Home Depot house paint sux big time!!

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** Frank ** wrote: ...

That's probably more a result of where the property is located rather than whether it is owned or rental...
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wrote:

You must not be a landlord to ask that question.
How about the simple and common practice of bouncing footballs/baseballs/basketballs against the house walls?
"Hey, that's what my security deposit is for, right"?
Doug
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I have couple of units where the tenant put 3" nails on the facial all around the exterior of the house for Christmas lights - pull nails out, patch and repaint. One put holes around all the windows into the stucco - patch and repaint. One lost his keys (tenant's kid) and decided he had to pee on my exterior wall. Another one show off with his cars, cash, guns and jewelry so he was robbed (home intrusion) and I ended up repairing the broken front door and frame - painted one side of the exterior wall to match. The same tenant with the fancy cars hide his money and guns in interior walls and when he left, open walls and damaged structure had to be replaced and painted ... sorry, that's interior.
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** Frank ** wrote:

Reminders all of why to _NOT_ be in the rental business... :)
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The positive side is seeing property values double every seven years with the tenants paying a good part of the mortgage and the huge run up we had couple years ago before the market down turn. Income, shelter, leverage and of course you could deduct all your construction toys, I mean tools. When you get sick of the tenants and trash, occupy it 2 out of 5 years, and claim a huge $250k (or $500k if married) tax exemption on your gain ... sweet.
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** Frank ** wrote:

Maybe, maybe not... :)
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Not in today's market! :-\\
-- Oren
"equal opportunity, not equal results"
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wrote:

Not in today's market if purchased high and flip now, but the above is my long term investment average since 1975 including markets like today's. Doubling every seven years translates to about 10% average appreciation which is no big deal until you factor leverage into it. I think the national average is around 8% long term.
If you want to do this well in today's market right now, look into commercial properties which is not in lockstep with the residential downturn. It also has a better positive cash flow than single family units.
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** Frank ** wrote:

Ain't enough money in the world to get me to be involved in rental property if I had to do _anything_ on the maintenance aspect as being discussed in this thread... :)
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True on real rental properties. We rented two houses to four different Police Officers, two to a house. Rented them for two years. They wouldn't change a light bulb or pick up a beer bottle, and there were thousands. But, they did pay their rent on time.
Then we decided on vacation rentals. House payments were about $700 a week. We now get $300 a night, $1700 a week, $3900 a month. Plus $100 cleaning fee for each group, which we just pass along to the two lady team that cleans the house.
When you get those rates, the maintenance takes on another dimension. And the people who stay are a totally different class of people. In three years on two houses, we only had one bad group, a bunch of frat rats that came for the poker tournament.
Steve
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SteveB wrote:

Diff'rent strokes...I want nothin' to do with it, personally. I'll make my money other ways, thank you. :)
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The bulk of our investments is in first deeds of trust through a gentleman my wife went to high school with. Very high rates for short term deals. Loans secured by real property. Still, it's hard to ignore a cash cow like a vacation rental when lots of people who come to Vegas pay cash. The vig on hard money lending is good, but cash is always handy, too. For SOOOOO many things. ;-)
Steve
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I found my OUCH! point :)
-- Oren
"Well, it doesn't happen all the time, but when it happens, it happens constantly."
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On Mon, 15 Oct 2007 21:02:51 -0700, "** Frank **"

We have local taverns in Las Vegas (PT's Pub), so a guy mentioned one day (not in the pub) - if they build PT's near you BUY!
Twelve years; I've been here in Vegas, and commercial continues to expand. I'm expecting a new red light at my nearest (main) intersection.
I think/know you might be right :)
-- Oren
"I don't mind coming to work, but that eight hour wait to go home is a bitch!"
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wrote:

Many things affect the market, Oren, and region is one of them. Last year, Las Vegas was projected to run out of buildable land in the valley. If you can hold out, things should start to pick up again here next year, ratchet up for five more, then zoom when land fizzles out in Vegas.
We had our houses for sale, but now plan to continue using them as vacation rentals, and enjoy the cash flow until the market either picks up enough to get our price, or really starts jumping more than 8% per year in valuations. Now we're going to hire a resident manager, and just sit on them. Houses near Harmon and Sandhill.
Steve
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On Mon, 15 Oct 2007 21:33:14 -0700, "SteveB"

90 percent of Nevada is still held by Bureau of Land Management (BLM). the last 10 percent is owned privately.
I don't want them to auction off the land for more houses to compete with mine. Buy my existing one :-) Prices stay up when they don't release the land to developers.
A guy in the Anthem/Seven Hills (local Las Vegas) was getting 5K a month from a Casino Executive for a comfortable rental. The vacation rental paid for a brand new pool - for the rental home...
-- Oren
"Well, it doesn't happen all the time, but when it happens, it happens constantly."
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If the numbers work; why not?
I had two occupied rentals; double in price (recent bubble), so when the lease was up they were sold. Oh, no more tenants :) All in 18 - 24 months.
I moved across town and got us a single floor home :)
-- Oren
"If things get any worse, I'll have to ask you to stop helping me."
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As a landlord, still at an accelerated rate, though not as bad as the interior.
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-- re: opinions are like the proverbial appendages
FYI...it isn't an "appendage" that opinions are typically compared to.
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DerbyDad03 wrote:

I chosed it on for poorpoise fur the inference whoever would chooz to draw...
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