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What Are You Buying Right Now? (non-OT version)

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Comments

  • alaskanassasin
    alaskanassasin Posts: 8,132
    Visited Louisville this last weekend, had a great time. Played Persimmon Ridge, spent Sunday at Keeneland (won a little cash), Buffalo Trace on Monday. Got some Eagle Rare 10yr and also picked up a couple of bags of Barrel Char. Anybody ever use it? Just wondering how to use and the effects on the meat?

    Drop them in your shine.
    South of Columbus, Ohio.


  • Ozzie_Isaac
    Ozzie_Isaac Posts: 20,386

    Maybe your purpose in life is only to serve as an example for others? - LPL


  • shtgunal3
    shtgunal3 Posts: 5,841

    How many pallets did you buy?

    ___________________________________

     

     LBGE,SBGE, and a Mini makes three......Sweet home Alabama........ Stay thirsty my friends .

  • Ozzie_Isaac
    Ozzie_Isaac Posts: 20,386
    shtgunal3 said:

    How many pallets did you buy?
    Was planning 3, but put an offer on a house today instead, so my fun money evaporated. 😢

    Maybe your purpose in life is only to serve as an example for others? - LPL


  • kl8ton
    kl8ton Posts: 5,683
    shtgunal3 said:

    How many pallets did you buy?
    Was planning 3, but put an offer on a house today instead, so my fun money evaporated. 😢
    Investment or looking to move?
    Large, Medium, MiniMax, 36" Blackstone
    Grand Rapids MI
  • Ozzie_Isaac
    Ozzie_Isaac Posts: 20,386
    kl8ton said:
    shtgunal3 said:

    How many pallets did you buy?
    Was planning 3, but put an offer on a house today instead, so my fun money evaporated. 😢
    Investment or looking to move?
    Investment.  We have told ourselves for years that we need more passive income, finally decided to make the jump and see how it shakes out.  We have passed up a few great opportunities in the past few years, Don want to kick ourselves again.

    Maybe your purpose in life is only to serve as an example for others? - LPL


  • kl8ton
    kl8ton Posts: 5,683
    SFH or a multiplex?
    Large, Medium, MiniMax, 36" Blackstone
    Grand Rapids MI
  • kl8ton
    kl8ton Posts: 5,683
    kl8ton said:
    SFH or a multiplex?
    @Ozzie_Isaac
    Large, Medium, MiniMax, 36" Blackstone
    Grand Rapids MI
  • Ozzie_Isaac
    Ozzie_Isaac Posts: 20,386
    kl8ton said:
    kl8ton said:
    SFH or a multiplex?
    @Ozzie_Isaac
    Single Family, would love a multiplex, or honestly storage buildings, but SFR is good starting point.  Should be positive cash flow of $500/month even with these higher rates.

    I am sure I am missing some details, but it seems to pencil out okay.

    Maybe your purpose in life is only to serve as an example for others? - LPL


  • Gulfcoastguy
    Gulfcoastguy Posts: 6,687
    Here is one thing that I never got through to my Dad. Put in the lease that you will enter the house at certain intervals to spray for insects and to do maintenance ( change the filters mainly) on the HVAC system. Both of those items, or rather the lack of them, caused very expensive problems on one of his properties. Plus you know that they will clean house at least that many times per year. Then decide who will cut grass. Pets are up to you but I would recommend a pretty stiff pet deposit especially for cats.
  • Botch
    Botch Posts: 16,167
    kl8ton said:
    kl8ton said:
    SFH or a multiplex?
    @Ozzie_Isaac
    Single Family, would love a multiplex, or honestly storage buildings, but SFR is good starting point.  Should be positive cash flow of $500/month even with these higher rates.

    I am sure I am missing some details, but it seems to pencil out okay.
    When I moved to Albuquerque, the Capt I was replacing at DNS was moving to Germany, but his wife wanted to keep their house, and rent it out.  He offered me a Property Manager position, $50/mo (1987 dollars), all I had to do was collect rent for him and take care of any "little repairs" that were needed.  This was in the Top Four Biggest Mistakes of my lifetime.  
    The first renters were there for a few months or so, skipped out on the last two rent payments (I wasn't responsible) and disappeared.  I got into the house after they left, and threw up a couple times; OMG how can people live like that?!?  I had to take 3 vacation days, plus a weekend to try to get it ready to show to new renters.  Be very careful of their "references", usually a family member or close friend who did not rent to them.  Don't accept a "40-lb pristine chunk of turquoise" as deposit from a self-employed jewelry maker.  Etc.  
    Finally got a decent renter, but then Murphy's Law/BotchLuck™ kicked in: the evening before any 3-day weekend, either Thurs or Fri night, every damn one, I'd get a phone call from the renter: "the water heater's out", "the swamp cooler isn't working", "the sprinkler system got a leak and there's a geyser in the front yard when I got home from work", etc (these are all actual incidents).  
    That Capt returned to a new assignment in Albu. right before I PCS'd, and took over, what a relief.  I've had two bosses over the years who really got into buying properties and renting, and they both got pretty wealthy doing it.  But, it requires a certain Intestinal Fortitude that I now know I don't have (reading the stories from other renters/campground owners on this forum reinforces that).  
    Good luck, Ozzie; knowing what I know, I'm sure you'll do okay!  
    ___________

    "When small men begin to cast big shadows, it means that the sun is about to set."

    - Lin Yutang


  • Corv
    Corv Posts: 430
    edited November 3
    A modest tip.... Put several hundred dollars a month into an escrow account for long-term things like the hot water heater, new roof, new driveway, carpet, etc. You'll be glad you did. In Colorado, the HOA fees seem to average between $300 and $400 a month for the condos, just for exterior maintenance, current and long-term. That's for a condo with shared walls, not a SFR. The interiors are not part of that because that's the owner's responsibility, but that can add another $100-$200.
    And there will be times when the place sits unrented for a while. October through February, here at least, are terrible times to find a new renter.
    Somewhere on the Colorado Front Range
  • Ozzie_Isaac
    Ozzie_Isaac Posts: 20,386
    Thank you all for your advice.  I’m trying to sort through all details. It’s a big jump and a bit intimidating.  The house we are buying will need a full interior refresh and need to sort through some other issues.  Hopefully it works out, but a bit scared at the moment of what we are biting off.

    Love the idea of “monthly” maintenance like air filters in the contract, allowing me access at least once a month, plus I know AC will be maintained.

    Also plan to put all proceeds into an account for this house, hopefully allowing that to go towards future opportunities, and be able to cover unexpected expenses or issues with this house.

    Internet is pretty interesting on their rules of thumb.  I would love to find a property that had profit of 10% of purchase price per year!  I can understand 10% of money you have invested, because you will also have appreciation, plus associated tax benefits,

    All the second guessing is starting!

    Maybe your purpose in life is only to serve as an example for others? - LPL


  • DoubleEgger
    DoubleEgger Posts: 17,893
    I had a friend who owned six rentals. He lost two to fires. In one of the rentals, a girlfriend piled up all of her cheating boyfriend’s clothes in the living room and torched the place. 

    He also found it ridiculously hard and costly to get rid of non-payers. 



  • fishlessman
    fishlessman Posts: 33,353
    Thank you all for your advice.  I’m trying to sort through all details. It’s a big jump and a bit intimidating.  The house we are buying will need a full interior refresh and need to sort through some other issues.  Hopefully it works out, but a bit scared at the moment of what we are biting off.

    Love the idea of “monthly” maintenance like air filters in the contract, allowing me access at least once a month, plus I know AC will be maintained.

    Also plan to put all proceeds into an account for this house, hopefully allowing that to go towards future opportunities, and be able to cover unexpected expenses or issues with this house.

    Internet is pretty interesting on their rules of thumb.  I would love to find a property that had profit of 10% of purchase price per year!  I can understand 10% of money you have invested, because you will also have appreciation, plus associated tax benefits,

    All the second guessing is starting!
    Make your next property a waterfront
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
  • Corv
    Corv Posts: 430
    A friend alerted me to this at a nearby Home Depot last night. It was on clearance for $29.

    Somewhere on the Colorado Front Range
  • CTMike
    CTMike Posts: 3,367
    edited November 5
    Purchased 8 Staub 0.275 qt mini-cocottes in various colors. Our Thanksgiving menu includes individual Pumpkin Sticky Toffee Puddings instead of pumpkin pie. 
    MMBGE / Large BGE / XL BGE (Craigslist Find) / SF30x80 cabinet trailer - "Ol' Mortimer" / Outdoor kitchen in progress.  

    RECOVERING BUBBLEHEAD
    Southeastern CT. 
  • Gulfcoastguy
    Gulfcoastguy Posts: 6,687
    Purchased a lot of hand thrown ceramic mugs this past weekend at the art festival. Christmas purchasing about a third done.