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OT - Budgeting/Money Talk

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Comments

  • Mickey
    Mickey Posts: 19,694
    Jeremiah said:
    @Mickey‌ that's something that's always interested me. How did you get into it? What demographic (income level) do you shoot for?

    s Here in Salado I have 4 doors (2 duplexes) these are the oldest at about 13 years. Started at $825 and now at $875. Salado has $1200 duplexes so we are not at the top but in all that time I doubt I have had 30 days all total w/o rent (do the math). Now Belton is lower levels so over there the 10 doors bring from $675 to $775 for duplex and $800 on the 1100 foot houses. I stay in the middle. Someone moves and a yard sigh has it tinted in a couple of days so before they move I have a renter ready (no rent loss). Got into it by killing my 401 after a hell of a loss and going my own future.
    Salado TX & 30A  FL: Egg Family: 3 Large and a very well used Mini, added a Mini Max when they came out (I'm good for now). 

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  • Jeremiah
    Jeremiah Posts: 6,412
    edited October 2014
    We're currently renting our house in myrtle beach. But as I said we bought it before the burst and now take a $150 loss every month on the rent vs mortgage. It's definitely not an income property, and I'm hoping to unload it next summer. Once rid of it I'd love to buy something local to us and rehab it and rent it. Like I said, Chilean miner.
    Slumming it in Aiken, SC. 
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  • Mickey
    Mickey Posts: 19,694
    Jeremiah said:
    We're currently renting our house in myrtle beach. But as I said we bought it before the burst and now take a $150 loss every month on the rent vs mortgage. It's definitely not an income property, and I'm hoping to unload it next summer. Once rid of it I'd love to buy something local to us and rehab it and rent it. Like I said, Chilean miner.

    You really want them close to you.
    Salado TX & 30A  FL: Egg Family: 3 Large and a very well used Mini, added a Mini Max when they came out (I'm good for now). 

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  • Jeremiah
    Jeremiah Posts: 6,412
    Thanks mickey
    Slumming it in Aiken, SC. 
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  • tarheelmatt
    tarheelmatt Posts: 9,867
    I think the one kicker for me would be I have to finance the property. Taking on that extra could be stressful.

    Though once my little girl is out of daycare, we could do something like that. At $650 bones a month is what we shell for that.
    ------------------------------
    Thomasville, NC
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  • tjv
    tjv Posts: 3,839
    couple things to consider.

    - most states offer some type of college fund for state supported colleges.  good thing to look into as it makes you commit to making it happen
    - if you go shopping for a specific item, leave the credit cards and extra cash in the car or at home.   hard to impulse buy if the availability to pay is not in your pocket.
    - on eating out, map out all the restaurant specials and when available
    - hang with folks/friends that are in your stage of life.  great source of new info and at times, a sounding board to complain/release stress

    t



    www.ceramicgrillstore.com ACGP, Inc.
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