Rental Property
Phantom Pain
Posts: 9,876
Anyone have one ?
I may have the opportunity to buy one
Just nervous about the money of course and not getting a renters
It would be a seasonal rental for summers so I wouldn't have rent money all year long
Any advice ?
I may have the opportunity to buy one
Just nervous about the money of course and not getting a renters
It would be a seasonal rental for summers so I wouldn't have rent money all year long
Any advice ?
My drinking team has a hockey problem
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Post edited by Unknown User on
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Comments
Did you look at what other similar places are renting for in the area and then calculate the total rent you would receive during the seasonal period (with adjustments for potential vacancy)?
Does that amount cover your mortgage payment for the year? Is the property in an area where values are increasing?
Just a few things I would look into.
down the shore? where at?
i wish you the best of luck man! been my goal to have a place down there by 35. sadly, i'm not certain it will happen as it will take some convincing of the new wife.
i know some people who have places down there and the may-september rent $ should more than cover your yearly piti payments.
i'm interesting in hearing the advice you get in this thread...
Yeah..it would be strictly for renting
Similar units are getting between $2800-3100 a week..but I think when they bought the market was way up. The unit Im looking at would be drastically lower in price so I could lower my weekly rental fee and still be ahead
Mortgage price is up in the air because there are 11 units available and they are set to go to Auction. I have a price I wont go higher than so I can kind of figure out a monthly payment
The unit is 100yds from the beach so I think the values will definitely climb back up or at least be in demand for renters regardless of the market
Do you have any property you rent ?
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
How much of a risk did you take when getting your property ?
I'm just nervous with the unknown and not getting renters and losing my shirt
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
what shore?
and if you don't mind me asking, roughly how much do you expect them to go for?
Yes sir..Wildwood Crest
Just kinda putting my feelers out there...my brother is a Real Estate agent in NJ and the Father-in-Law owns his own office in Philly
Im definitely looking for something to have down there if for nothing else to get it paid for and have some equity to move on to maybe another property
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Wow..nice
This would be a resort town in NJ
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Wildwood Crest NJ
The bidding starts at $125,000 before they were put up for auction the average was over $500,000
11 Units available
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
wow
Maybe I can cut you in for a good Mortgage rate
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
No, but I work in commercial real estate...specifically, the multifamily segment. Sounds like your unit may be attractive due to the fact that you are able to charge a lesser amount for weekly rent. Stick with your price ceiling and you should be ok. It's still a good time to buy in a lot of markets and it sounds like this property will increase within the next 5 years.
you can honestly get a better deal from a different company.
i've always wanted a place in sea isle...but everything is still ungodly expensive there. guess i gotta expand my thinking.
steps from the beach and a jumping party town
i could rent it in the summer for around 10,000 per month...but iam a beach bum and would totally lost w/ out it
although with the big surf competition coming in around labor day/....i am totally thinking about it
i could rent it and stay with my brother who lives 20 minutes away
My sister had a place there a few years back, it certainly is nice to have a place to crash for a few days get away.
She sold it though :(
i thought you've said that was your parent's or brother's house? :?
did you inherit it?
my parents are looking to buy a place down the shore too, but they are leaning towards delaware. they're gonna move down there in a couple years since they'll both be retired.
well yea its a family house..my brother bought his own in the next town
i was just using the term I ...lol that sounds funny
i was just bringing up price examples between where pain is talking about and long beach ny
yeah but he's getting his on an auction...normally the price would be in line with what you said.
that's awesome to have a place to go down to anytime you want. my family used to have a place in sea isle but sold it like 20 years ago. i wish i started saving $ at a much younger age than i did. :roll:
My father bought a place down the beach in DE while i was in high school. We had it as our summer place and then when he retired a few years back, he moved there permanently. It really is a great place for retirees. He loves it there. The winters are a little dull, but he usually spends them in FL. I'm heading down this weekend to visit him and Dogfish Head!
oh that blows...my parents thought about selling it years back....but we were able to convince them to keep it (thank god)
and they have also become beach bums in the past 10 years
and the best part is that its the 1st town in long island..so its only a 40 min drive or train ride as opposed to 3 hours down the shore or to the hamptons
quality brew!
yeah, they've been talking about moving down there forever. my dad is always coming up with weird ways to spend his retirement/make money. his latest idea is to get a hot dog cart license and sell them on the beach down there. :roll:
Tell your Dad that those snow cone stands are really popular in the summer and so are the beach fries. People will stand in line all day for them! :?
Thats what we're thinking the location can't be beat its so close to the beach
I'm little nervous about the auction part of it not knowing a set price...we have to have money in hand and theres no guarantee we'll get a unit for the right price
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Same here I grew up going to Ocean City NJ don't know much about Wildwood
We would probably have a few partners in on it to help with the cost especially in the even we dont have renters
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Thats what Im talking about something to have for life
$10K a month ?!?? Rent that shit !
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
Thanks dude...Yep...I was putzing around on the local real estate websites they have plenty of property down there
If this doesn't work out with the auction I'm gonna definitely keep looking
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers
East Monterey Ave ?
Seems close to everything
Did she rent it out or just use it for herself ?
The ONLY thing better than a glass of beer is tea with Miss McGill
A protuberance of flesh above the waistband of a tight pair of trousers