Author Topic: The Real Estate Investing Thread  (Read 13952 times)

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Offline chum1

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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

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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

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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


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feels good.

Online Pete

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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

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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

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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.


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Offline Institutional Control

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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


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Offline catastrophe

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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

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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.


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Offline DQ12

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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.


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lumber becoming more reasonable and foreclosures opening up will help quite a bit imo.


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Offline Dugout DickStone

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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.


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lumber becoming more reasonable and foreclosures opening up will help quite a bit imo.

indeed

Offline catastrophe

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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

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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


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

Offline sys

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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.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline KITNfury

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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.
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Offline IPA4Me

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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.

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Offline wetwillie

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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.

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Also a rapid appreciating asset in the current market
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Offline IPA4Me

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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

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Re: The Real Estate Investing Thread
« Reply #68 on: June 24, 2021, 08:08:16 AM »
Wait, didn’t you JUST buy a place?


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Offline KITNfury

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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!
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Offline IPA4Me

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Re: The Real Estate Investing Thread
« Reply #70 on: June 24, 2021, 08:20:07 AM »
Wait, didn’t you JUST buy a place?


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Nope. Deal didn't go. Still in my place that I built in 2006.

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Offline steve dave

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Re: The Real Estate Investing Thread
« Reply #71 on: June 24, 2021, 08:30:05 AM »
Wait, didn’t you JUST buy a place?


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Nope. Deal didn't go. Still in my place that I built in 2006.

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Oh, that makes sense then.


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Offline steve dave

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Re: The Real Estate Investing Thread
« Reply #72 on: June 24, 2021, 08:30:35 AM »
Wait, didn’t you JUST buy a place?


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Nope. Deal didn't go. Still in my place that I built in 2006.

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Oh, that makes sense then.


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Offline Kat Kid

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Re: The Real Estate Investing Thread
« Reply #73 on: June 24, 2021, 09:03:19 AM »
Wait, didn’t you JUST buy a place?


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Nope. Deal didn't go. Still in my place that I built in 2006.

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Oh, that makes sense then.


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Makes sense.

Offline Kat Kid

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Re: The Real Estate Investing Thread
« Reply #74 on: June 24, 2021, 09:03:54 AM »
Wait, didn’t you JUST buy a place?


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Nope. Deal didn't go. Still in my place that I built in 2006.

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Oh, that makes sense then.


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Makes sense.