Author Topic: The Real Estate Investing Thread  (Read 6237 times)

0 Members and 1 Guest are viewing this topic.

Offline chum1

  • Pak'r Élitaire
  • ****
  • Posts: 20854
    • View Profile
Re: The Real Estate Investing Thread
« Reply #50 on: June 23, 2021, 11:38:52 AM »
Houses in my neighborhood have been selling for 40-80% above what we paid for ours 11 years ago. Given that prior increases up until recently have been pretty modest, it seems like a huge jump.

Offline 420seriouscat69

  • Don't get zapped! #zap
  • Wackycat
  • Pak'r Élitaire
  • ****
  • Posts: 63922
  • #1 rated - gE NFL Scout
    • View Profile
Re: The Real Estate Investing Thread
« Reply #51 on: June 23, 2021, 11:40:09 AM »
Houses in my neighborhood have been selling for 40-80% above what we paid for ours 11 years ago. Given that prior increases up until recently have been pretty modest, it seems like a huge jump.
It's so dumb

Offline Dugout DickStone

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 46783
  • BSPAC
    • View Profile
Re: The Real Estate Investing Thread
« Reply #52 on: June 23, 2021, 11:49:57 AM »
Congrats to everyone who owns property because this crap is wild


Sent from my iPhone using Tapatalk

feels good.

Offline Pete

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 25799
  • T-Shirt KSU Football Fan, Loves Lawrence and KU
    • View Profile
Re: The Real Estate Investing Thread
« Reply #53 on: June 23, 2021, 11:56:08 AM »
I am considering a cash out refinance at a super low rate to buy some acreage at my fav vacation area in Cass County, MN.

Offline Dugout DickStone

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 46783
  • BSPAC
    • View Profile
Re: The Real Estate Investing Thread
« Reply #54 on: June 23, 2021, 11:59:55 AM »
So what do you do with it? Look to sell or just save less and consume more?

buy more at the next dip

Offline steve dave

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 81071
  • Romantic Fist Attachment
    • View Profile
Re: The Real Estate Investing Thread
« Reply #55 on: June 23, 2021, 12:13:52 PM »
Houses in my neighborhood have been selling for 40-80% above what we paid for ours 11 years ago. Given that prior increases up until recently have been pretty modest, it seems like a huge jump.
It’s nuts. We built ours 7 year’ish ago and are confident we could unload it in a week for double what we built it for. Refi’d to a 15 yr at 2.875 and am kicking myself for not cashing out equity on it because inflation is going to whip 2.875’s ass near term and I bet I could find a really fun way to invest that equity and lose like 50% of it.


Sent from my iPhone using Tapatalk

Offline Institutional Control

  • Pak'r Élitaire
  • ****
  • Posts: 13878
    • View Profile
Re: The Real Estate Investing Thread
« Reply #56 on: June 23, 2021, 12:36:36 PM »
Congrats to everyone who owns property because this crap is wild


Sent from my iPhone using Tapatalk

It's the opposite feeling of owning crypto.

Offline catastrophe

  • Pak'r Élitaire
  • ****
  • Posts: 12745
    • View Profile
Re: The Real Estate Investing Thread
« Reply #57 on: June 23, 2021, 12:48:00 PM »
I can’t figure it out. You’d think in an efficient market the soaring costs would result in more houses going up for sale, which absolutely has not been the case. Either we broke the market with ridiculous interest rates or the bubble will burst in the near future.

Offline steve dave

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 81071
  • Romantic Fist Attachment
    • View Profile
Re: The Real Estate Investing Thread
« Reply #58 on: June 23, 2021, 12:50:46 PM »
I can’t figure it out. You’d think in an efficient market the soaring costs would result in more houses going up for sale, which absolutely has not been the case. Either we broke the market with ridiculous interest rates or the bubble will burst in the near future.
You have to live in a house. There is no bubble bursting anytime in the near future.


Sent from my iPhone using Tapatalk

Offline DQ12

  • PCKK7DC Survivor
  • Pak'r Élitaire
  • *******
  • Posts: 21431
  • #TeamChestHair
    • View Profile
Re: The Real Estate Investing Thread
« Reply #59 on: June 23, 2021, 01:49:44 PM »
I can’t figure it out. You’d think in an efficient market the soaring costs would result in more houses going up for sale, which absolutely has not been the case. Either we broke the market with ridiculous interest rates or the bubble will burst in the near future.
You have to live in a house. There is no bubble bursting anytime in the near future.


Sent from my iPhone using Tapatalk
lumber becoming more reasonable and foreclosures opening up will help quite a bit imo.


"You want to stand next to someone and not be able to hear them, walk your ass into Manhattan, Kansas." - [REDACTED]

Offline Dugout DickStone

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 46783
  • BSPAC
    • View Profile
Re: The Real Estate Investing Thread
« Reply #60 on: June 23, 2021, 02:04:12 PM »
I can’t figure it out. You’d think in an efficient market the soaring costs would result in more houses going up for sale, which absolutely has not been the case. Either we broke the market with ridiculous interest rates or the bubble will burst in the near future.
You have to live in a house. There is no bubble bursting anytime in the near future.


Sent from my iPhone using Tapatalk
lumber becoming more reasonable and foreclosures opening up will help quite a bit imo.

indeed

Offline catastrophe

  • Pak'r Élitaire
  • ****
  • Posts: 12745
    • View Profile
Re: The Real Estate Investing Thread
« Reply #61 on: June 23, 2021, 02:13:09 PM »
Agreed. Hadn’t thought about the foreclosure angle. We have definitely been messing with the market (in addition to COVID messing with supply chains for new builds).

Offline kim carnes

  • chingon!
  • Pak'r Élitaire
  • ****
  • Posts: 12811
    • View Profile
Re: The Real Estate Investing Thread
« Reply #62 on: June 23, 2021, 02:18:57 PM »
Congrats to everyone who owns property because this crap is wild


Sent from my iPhone using Tapatalk

I know a guy who bought a house for 2.2 in October and just got an offer for 2.9 🤯

Offline sys

  • Contributor
  • Pak'r Élitaire
  • *****
  • Posts: 38658
  • your reputation will never recover, nor should it.
    • View Profile
Re: The Real Estate Investing Thread
« Reply #63 on: June 23, 2021, 03:21:07 PM »
like the old saying goes, buy houses, they aren't making them anymore.
"lol, i understand military logistics quite well, thanks."

Offline KITNfury

  • Pak'r Élitaire
  • ****
  • Posts: 6743
  • Eat My Ass Whole
    • View Profile
Re: The Real Estate Investing Thread
« Reply #64 on: June 23, 2021, 03:25:21 PM »
like the old saying goes, buy houses, they aren't making them anymore.
:lol: practically the truth right now.
I once blew clove smoke in a guy's face that cut in front of me in the line to KJ's.

Offline IPA4Me

  • Pak'r Élitaire
  • ****
  • Posts: 6337
  • El Guapo
    • View Profile
    • Life Advice
Re: The Real Estate Investing Thread
« Reply #65 on: June 24, 2021, 05:06:18 AM »
I'm considering taking my equity and buying an RV for full time living.

Sent from my moto g power using Tapatalk


Offline wetwillie

  • Pak'r Élitaire
  • ****
  • Posts: 25738
    • View Profile
Re: The Real Estate Investing Thread
« Reply #66 on: June 24, 2021, 06:30:44 AM »
I'm considering taking my equity and buying an RV for full time living.

Sent from my moto g power using Tapatalk



Also a rapid appreciating asset in the current market
When the bullets are flying, that's when I'm at my best

Offline IPA4Me

  • Pak'r Élitaire
  • ****
  • Posts: 6337
  • El Guapo
    • View Profile
    • Life Advice
Re: The Real Estate Investing Thread
« Reply #67 on: June 24, 2021, 07:19:30 AM »
Dumping a house frees up almost $2K a month for investment and spending. $1500 a month at 6% is a much better return than paying a mortgage. I'm an empty nester and definitely don't need the space. Still weighing my options.

Offline steve dave

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 81071
  • Romantic Fist Attachment
    • View Profile
Re: The Real Estate Investing Thread
« Reply #68 on: June 24, 2021, 08:08:16 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk

Offline KITNfury

  • Pak'r Élitaire
  • ****
  • Posts: 6743
  • Eat My Ass Whole
    • View Profile
Re: The Real Estate Investing Thread
« Reply #69 on: June 24, 2021, 08:10:18 AM »
Dumping a house frees up almost $2K a month for investment and spending. $1500 a month at 6% is a much better return than paying a mortgage. I'm an empty nester and definitely don't need the space. Still weighing my options.
We're planning to do the RV thing for 6-12 months starting approximately 1 year from now. But I'll keep my house and rent it out. Rent should cover mortgage and expenses and throw a couple hundred each month our way. At the end of the trip, we'll buy another house.

We'll have our two young kids with us so we might intentionally drive the motorhome off a cliff or maybe my wife murders me in my sleep. Who knows? The possibilities are endless!
I once blew clove smoke in a guy's face that cut in front of me in the line to KJ's.

Offline IPA4Me

  • Pak'r Élitaire
  • ****
  • Posts: 6337
  • El Guapo
    • View Profile
    • Life Advice
Re: The Real Estate Investing Thread
« Reply #70 on: June 24, 2021, 08:20:07 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk
Nope. Deal didn't go. Still in my place that I built in 2006.

Sent from my moto g power using Tapatalk


Offline steve dave

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 81071
  • Romantic Fist Attachment
    • View Profile
Re: The Real Estate Investing Thread
« Reply #71 on: June 24, 2021, 08:30:05 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk
Nope. Deal didn't go. Still in my place that I built in 2006.

Sent from my moto g power using Tapatalk
Oh, that makes sense then.


Sent from my iPhone using Tapatalk

Offline steve dave

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 81071
  • Romantic Fist Attachment
    • View Profile
Re: The Real Estate Investing Thread
« Reply #72 on: June 24, 2021, 08:30:35 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk
Nope. Deal didn't go. Still in my place that I built in 2006.

Sent from my moto g power using Tapatalk
Oh, that makes sense then.


Sent from my iPhone using Tapatalk

Offline Kat Kid

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 19369
    • View Profile
Re: The Real Estate Investing Thread
« Reply #73 on: June 24, 2021, 09:03:19 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk
Nope. Deal didn't go. Still in my place that I built in 2006.

Sent from my moto g power using Tapatalk
Oh, that makes sense then.


Sent from my iPhone using Tapatalk
Makes sense.
@bentren

Offline Kat Kid

  • Global Moderator
  • Pak'r Élitaire
  • *****
  • Posts: 19369
    • View Profile
Re: The Real Estate Investing Thread
« Reply #74 on: June 24, 2021, 09:03:54 AM »
Wait, didn’t you JUST buy a place?


Sent from my iPhone using Tapatalk
Nope. Deal didn't go. Still in my place that I built in 2006.

Sent from my moto g power using Tapatalk
Oh, that makes sense then.


Sent from my iPhone using Tapatalk
Makes sense.
@bentren