Replies to post #2548 on Real Estate Bubble (RUBBLE)

[littlefish]

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