JustMee01’s Activity

Mon Jul 25

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 9:32 AM

Re: Can't make the math work.

If the whole rental property thing is a way you think you will game the financial aid system, you are likely mistaken.

I am not thinking I will "game" the system. Is there any need to be insulting? I am trying to [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 7:49 AM

Re: Can't make the math work.

Based on spinning's point, from a college asset perspective it would probably be more effective to pay off the mortgage. Equity in the parent's primary residence is not counted in some of the evaluation methods.

The negative [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 7:15 AM

Re: Can't make the math work.

Another comment on real estate and taxes. Mortgage interest is tax deductible and mortgage principle is not. This means the income used to pay off the principle is profit, and is taxed as such at your ordinary income rate (after depreciation [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 7:11 AM

Re: Can't make the math work.

I don't know how they check real estate valuation but its not really that hard to get a ballpark estimate of current valuation for most properties. Zillow will give anyone a value for a property. When I got a home equity loan they used some [more]

Sun Jul 24

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 9:08 PM

Re: Can't make the math work.

Thanks for the head's up, spinning.

I'll bookmark that link.

So cash in the bank, equity in rental property, or some equivalent combination of cash, rental equity, and rental mortgage debt are all the same from a college [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 1:04 PM

Re: Can't make the math work.

Thanks for the advice Jack. I will keep it in all in mind. You've been very helpful already.

As far as the mortgage is concerned, I just want to be sure that I can pull money back out later, if (when) the market crashes, college [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 10:17 AM

Re: Can't make the math work.

Jack,

This is the situation. We have cash doing nothing. The price is good. The current tenants are the current owner's family. We do not need cash flow from this property today. We certainly need it eventually. I don't like money [more]

Sat Jul 23

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 5:54 PM

Re: Can't make the math work.

Jack,

Now I better understand the other poster's question. And the mortgage issue becomes stickier... Having a mortgage and these rents NOT covering it would be a disaster. I'd be stuck going cash and eating the residual time on the [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 5:47 PM

Re: Can't make the math work.

r.a.d.

This is confusing. Will you be collecting market level rent on this property ?

No. It will be unoccupied, which isn't a problem since my purchase is cash. We'll be updating and looking for new tenants. The [more]

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 1:09 PM

Re: Can't make the math work.

Jonathan,

Thanks again.

"Investment rate non-owner occupied mortgages of 1-4 units generally run 0.25% to 0.5% higher than owner occupied single family home rates."

I guess that this quote is pretty high. [more]

Fri Jul 22

NL

Boards Post

JustMee01 posted to the Real Estate Investing board. 5:23 PM

Can't make the math work.

What am I missing? People buy and rent houses in our area all the time. We know several people who do it. I can't figure out how they're making it work. Maybe someone experienced can help...

As background, we're in western New [more]

Thu Jul 21

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 7:20 PM

Re: Estimating expenses

Thanks!

NL

Boards Post

JustMee01 posted to the Real Estate Investing board. 5:05 PM

Estimating expenses

Having never had a rental property, I'm having a hard time guesstimating expenses when evaluating a property.

If a property is in good working order (heat/plumbing/etc.), is there a rule of thumb to guess at expenses on a property? There [more]

Fri Jul 15

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 1:29 AM

Re: Asbestos in rentals?

Thanks to all for the suggestions. Asbestos is one of those ugly words that scares people off. I suspect that some bargains are created that way. It's probably in a lot of the cheaper houses available in our area given the general age of those [more]

Thu Jul 14

NL

Boards Post

JustMee01 posted to the Real Estate Investing board. 4:47 PM

Asbestos in rentals?

Is there any liability to consider here? Asbestos when broken is dangerous. If intact, it's often best left alone. Is there any liability to consider when renting a house that has asbestos in it? Is disclosure adequate, or should it be [more]

Wed Jul 13

NL

Boards Post

JustMee01 replied to the Real Estate Investing board. 10:06 AM

Re: Commercial rentals?

Is it low enough that you could rent it as residential and it'd cash flow?

I think it's almost certain to be the case and the realtor believes so as well. On the repairs end, it will need some work, but new heat/AC and vinyl [more]

Tue Jul 12

NL

Boards Post

JustMee01 posted to the Real Estate Investing board. 8:52 PM

Commercial rentals?

Hello All,

There is a foreclosure rental property in our area that is available at a very low price. It's in a high traffic area, near a lot commercial shopping and businesses. It had been used by someone as a residence (hard to believe [more]

Wed Jul 6

NL

Boards Post

JustMee01 replied to the Value Hounds board. 4:08 PM

Re: no place to hide redux and CEFs

MonsterFluff,

I'm glad the cefconnect website was of help.

I don't currently own any CEFs but have held them in the past. All were NY Munis. When I've used them, I didn't go very in-depth with their holdings, beyond [more]

Wed Jun 29

NL

Boards Post

JustMee01 replied to the Value Hounds board. 3:08 PM

Re: no place to hide

MF,

Denny mentioned covered calls. If you're cash strong and want to stay that way, the opposite strategy of naked puts covered with cash could generate some income. Write out of the money puts on stocks that you would accept if they [more]

Sun Jun 26

NL

Boards Post

JustMee01 replied to the Investing Beginners board. 6:50 PM

Re: New college Fool

Lawsuits happen fairly frequently. Sometimes they're well-founded, sometimes they're garbage. But quality companies encounter them far less frequently. So yes, they're a danger-sign. But no, they aren't always a reason to disqualify a [more]

Show More Activity ...

CAPS Stats & Trivia

CAPS Player Rating < 20
Player Rank 0 out of 74879
Score 0.00
Score Change Today 0
Accuracy 0.00%
Active Picks 0
Total Picks 0
Best Pick ( 0)
Worst Pick ( 0)
Average Score per Pick 0.00
Charms Earned 0
Highest Rated Favorite No Favorites Selected
Go to JustMee01’s CAPS page

Boards Stats & Trivia

Big red star, 1000 posts
Board Posts 2140
Recs Received 3099
People who have rec'd these posts 554
Recs to Posts Ratio (last 30 days) N/A
Threads Started 434
Threads Started Percentage 20.28 %
Most Frequent Board Ford Motor Company
Very First Post Biotech Investors Club? (2/2/2008)
Percentage of Posts Rec'd 51.82 %
Show JustMee01’s 10 Latest Posts