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02-07-2019, 07:40 AM | #31 |
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Join Date: Aug 2006
Location: Parts Unknown
Casino cash: $8456765
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My friend lives in Ohio, he grew up here and moved there in the early 90’s. He started flipping houses to rent out about 10 years ago. He bought some of them for as little as $25,000 outright. He then refurbishes the entire house. He has 6 houses rented out at at least $1,200.00 per month. Currently working on house number 7. He has a full time job and does this on the weekends. After he finishes house number 7 he can retire lol. He pays $600 a year in property taxes per house.
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02-07-2019, 07:40 AM | #32 | |
I’m a Mahomo!
Join Date: Aug 2004
Location: Mid-Missouri
Casino cash: $6771021
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Quote:
Wait until the buyer sues you & their home inspector because of the front door sticking & cracks appearing a year after you sold the house.
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02-07-2019, 07:44 AM | #33 | |
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Join Date: Aug 2006
Location: Parts Unknown
Casino cash: $8456765
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Posts: 22,064
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02-07-2019, 07:49 AM | #34 | |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2900564
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Quote:
It just amazes me how many ways they figure out how to tax a person. Do you have to annually purchase a sticker on your car to have the privilege to park in your own driveway? That is so common in Illinois that the citizens think it is normal and they are used to it. |
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02-07-2019, 07:55 AM | #35 |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
Casino cash: $6232680
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Nah, this place is 55 years old and there are no signs that is has shifted a bit in that time. Not one single crack in the basement and garage floor or anywhere on the foundation. No stress fractures in the drywall. It's rock solid. Whoever is buying it is hitting the jackpot.
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Posts: 70,443
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02-07-2019, 07:55 AM | #36 | |
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Join Date: Aug 2006
Location: Parts Unknown
Casino cash: $8456765
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Quote:
We have what’s called inspection stickers on our cars. It has an electronic bar code on it that a cop can scan driving by. It used to be every year, but now it’s every other year. They check everything and if you fail you have 30 days to make the necessary repairs. |
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Posts: 22,064
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02-07-2019, 07:56 AM | #37 | |||
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1934734
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02-07-2019, 08:04 AM | #38 | |
Veteran
Join Date: Jan 2006
Location: Kansas City, MO
Casino cash: $6338777
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We just bought a house, asked for 7k off the asking price and found issues during the inspection. I could fix a lot of them myself we asked for another 1000 to fix some stuff found in the inspection, agreed on 500 back at closing. |
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Posts: 2,446
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02-07-2019, 08:07 AM | #39 |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
Casino cash: $6232680
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Too late for that.
No, just stupid shit, a lot of it I was aware of but hadn't had the time to repair yet. I figured whatever they found I could just fix by closing. What my realtor failed to tell me was that they would require all repairs be done by a qualified contractor. Some of the items were things that were clearly visible when the offer was made and a few others were plain absurd. I was ready to go to war over it at first, but then decided the 2k wasn't worth our sanity and I've been working on the place for 5 months straight anyway and I'm sick of it and I still have a metric shit ton of work to do to get us out of here by March 1st so I'll eat it to get the deal done. |
Posts: 70,443
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02-07-2019, 08:11 AM | #40 | |
Out Gunning CP's Fandom Police
Join Date: Aug 2000
Location: Laguna Beach, CA
Casino cash: $1983127
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Quote:
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"The CHIEFS, HAVE THEIR DYNASTY!" Last edited by TEX; 02-07-2019 at 08:24 AM.. |
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02-07-2019, 08:11 AM | #41 | |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
Casino cash: $6232680
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Posts: 70,443
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02-07-2019, 08:15 AM | #42 | |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2900564
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Quote:
Oh we had inspection stickers as well, and I had no problem with that as it helped to keep clunkers off the roads, but this sticker was just another tax. No explanation or benefit to it, other than a way for each village to extort more money from you. IIRC it was $25 per vehicle per year. Not a lot of money, but the fact that they could write you a ticket for not having one parked in your own driveway pissed me off. The Mrs. paid that crap each year even though I didn't agree |
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Posts: 33,576
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02-07-2019, 08:22 AM | #43 |
Resident Glue Sniffer
Join Date: Nov 2003
Casino cash: $4849358
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JoCo Ks. if a house was anywhere near being considered move in ready, they were sold the day they went on the market. It was definitely a balancing act on my part. I wasn’t hip in paying a ton then having to drop probably 20k on fixing shit and countless weekends working on it...then hopefully get money back when I sold it. Not to mention, I have zero tools so any project is already a money suck because I’d have to buy tools etc. So there were plenty of houses out there, but they needed quite a bit of work. I decided it was worth it to just be patient and when I found the house, go after it. Luckily I found a complete down to the stud remodel. New wiring, new ac, furnace, new appliances, floors, doors, etc. I sacrificed a little on location, backs up to a busy street. But got a 3 br, 2 full bath 2 car ranch with main floor laundry. Which is what I wanted when we started alll this shit last April. With this house, all I have to do is maintain it, and not have to deal with any major projects. Which is nice, since I have virtually zero interest in owning a home to begin with. Lol. But, with rent in this area, it’s basically a little cheaper to buy.
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02-07-2019, 08:27 AM | #44 |
MVP
Join Date: Aug 2000
Location: nemo
Casino cash: $1309900
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how many ceiling fans are in the house?
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"Mr. seclark. Wrong for gravy, wrong for jelly, wrong for biscuits." -rj "If every Planeteer who was disliked by another Planeteer stopped being a Planeteer we wouldn't have any Planeteers." -rj |
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02-07-2019, 08:27 AM | #45 |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
Casino cash: $6232680
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We're looking at moving to Cheyenne, and it's about the same way there. If we see something we really like we almost have to put in an offer without looking at it, which I am not comfortable with for obvious reasons. We're going out there this weekend to look at a few but I have no idea if they'll still be available by then. It's certainly not making this process any easier.
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