Gadzooks rogue- that does sound like a bloodbath.
(Not so)Funny thing on the property taxes around here is how the assessed values have declined sharply but the levy rates per $1,000 have gone up so unfortunately not a corresponding equivalent drop in prop tax rates paid.
I'm simply looking at it as investment and cash flow. Can buy a fixer, put 25% down, another 5-10% for cosmetics, and turn around renting it with ROE approaching 20+% annually even with 1 or 2 months allowed as vacancy cushion.
BUT it's a total pain in the arse having neighbors call at 5 AM to say the police are breaking up a raucous party the tenants decided to have where drywall, windows, and even the toilet bowl somehow breaks...
Much less of a pain in the arse getting 20%+ in the markets every year, but last year I couldn't do that and this year neither with a fair chunk of 'invest' money in cash.
Soooooo, I am deciding to take the path of pain in the arse. :-0
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
