10 year life plan.

[DeadEye_Dan]

I'm 10 years into my 5 year plan, it's going pretty swell.


I plan to keep working and acquiring income producing real estate. I've got money in the market, but I don't trust it and I'm not banking on it being there down the road.

What exactly do you have in income producing real estate?

I've got a couple small commercial buildings, a couple of single family rental houses, and some agricultural land.

I've bought all the buildings out of foreclosure in the past 5-6 years for fractions of what they are worth.
As an example, I bought a foreclosed 2,200 sqf office for $20/sqf, put about $13/sqf into renovations and lease it out at $11.50/sqf on a triple net lease.

[goodkarmarising]

Become a redneck millionaire.

[Olly]

Watching WaterfowlForum.Net hit its 12th anniversary.

[Flightstopper]

I'm 10 years into my 5 year plan, it's going pretty swell.


I plan to keep working and acquiring income producing real estate. I've got money in the market, but I don't trust it and I'm not banking on it being there down the road.

What exactly do you have in income producing real estate?

I've got a couple small commercial buildings, a couple of single family rental houses, and some agricultural land.

I've bought all the buildings out of foreclosure in the past 5-6 years for fractions of what they are worth.
As an example, I bought a foreclosed 2,200 sqf office for $20/sqf, put about $13/sqf into renovations and lease it out at $11.50/sqf on a triple net lease.

Nice, that is also something I'd like to get into with rental houses. It's crazy how much people get for rentals here. I've never understood how a rental can be more than the mortgage on the house.

[gila-river]

Be in my bosses position at work. Have our house paid off.

[aunt betty]

I'm 10 years into my 5 year plan, it's going pretty swell.


I plan to keep working and acquiring income producing real estate. I've got money in the market, but I don't trust it and I'm not banking on it being there down the road.

What exactly do you have in income producing real estate?

I've got a couple small commercial buildings, a couple of single family rental houses, and some agricultural land.

I've bought all the buildings out of foreclosure in the past 5-6 years for fractions of what they are worth.
As an example, I bought a foreclosed 2,200 sqf office for $20/sqf, put about $13/sqf into renovations and lease it out at $11.50/sqf on a triple net lease.

Nice, that is also something I'd like to get into with rental houses. It's crazy how much people get for rentals here. I've never understood how a rental can be more than the mortgage on the house.

Part of the additional cost is the piece of mind factor. It's like leasing a car that comes with a maintenance agreement included.

For instance a homeowner bears the burden of when the home needs a new roof. Lets say that's around $7500 and is spread out of 20 years. That's only a mere $31.25/month but most people never go so far as to calculate it. Do the same for the furnace, air conditioning, plumbing, sewer drains, lawn care, tree care, etc.

[assateague]

Factor in property tax and homeowner's insurance also, and rentals aren't that much more expensive.

[Flightstopper]

Factor in property tax and homeowner's insurance also, and rentals aren't that much more expensive.

With taxes and insurance we pay $1100 a month. A house just down the street that is slightly smaller and not nearly as in good condition as my house rents for $1300 a month. It will also be leased again far before the current residents move out.

[assateague]

Don't get me wrong, I'm not saying it's not cheaper. Just that it's not that much cheaper, all things considered, particularly when it comes to maintenance, like Betty was saying. It wouldn't take too much to wipe out that $2,400 a year differential for a few years, like a roof. Or an HVAC unit.

[aunt betty]

The neighborhood I live in was built for lower-middle class but has slid into upper-low class.
Only a few home-owners left that actually live in their homes.

Been comparing taxes online and it's sick...
The homes owned by people who live in them are WAY overvalued as far as tax assessment.
The bank-owned ones are identical homes yet are valued at a fraction of what a owner has.
Think about a "cracker-box" neighborhood where all the homes are identical. Same floorplan on every single one.

The bank-owned homes are valued at a little less than half and they pay less than half the taxes.
The home I'm in is taxed at around $2000/year while the one next-door (bank-owned) is only $750 YET IS A BIGGER HOME.

How the???

[Goldfish]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

[Bootlipkiller]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

Bump that post count up so maybe when you cash in you can buy a pair of men's pants this time.

[Goldfish]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

Bump that post count up so maybe when you cash in you can buy a pair of men's pants this time.

Ass



But seriously, who's pants do you think cost more? Guys or girls?

[aunt betty]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

Bump that post count up so maybe when you cash in you can buy a pair of men's pants this time.

Ass



But seriously, who's pants do you think cost more? Guys or girls?

You obviously never had a teenage daughter or you wouldn't ask that question.

[Bootlipkiller]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

Bump that post count up so maybe when you cash in you can buy a pair of men's pants this time.

Ass



But seriously, who's pants do you think cost more? Guys or girls?

Ha! I know my wife will spend $125.00 on jeans and mine are $25 to $40. Women are crazy.

[Bootlipkiller]

Watching WaterfowlForum.Net hit its 12th anniversary.

Wait... He didn't say bringing it to it's 12 anniversary.

He's going to sell boys. I better start post whoring. Flint, give us a heads up if he starts a shopping list at any specific retailer

Bump that post count up so maybe when you cash in you can buy a pair of men's pants this time.

Ass



But seriously, who's pants do you think cost more? Guys or girls?

You obviously never had a teenage daughter or you wouldn't ask that question.

I think he already knew the answer to that question Betty Mae sour biscuit.

[aunt betty]

I think he already knew the answer to that question Betty Mae sour biscuit.

GONNA SPLAIN THIS TO YOU ONE MORE TIME. MKAY?

AT made sour biscuits using the recipe I provided. He used ten-year-old baking powder and that's why HIS were sour.
You need to get this straight in your head.
My biscuits are perfect. AT's are sour.
Betty...pefect
AT...sour
Betty...perfect
AT...sour
Betty...perfect
AT...sour


MKAY?

[sws002]

I think he already knew the answer to that question Betty Mae sour biscuit.

GONNA SPLAIN THIS TO YOU ONE MORE TIME. MKAY?

AT made sour biscuits using the recipe I provided. He used ten-year-old baking powder and that's why HIS were sour.
You need to get this straight in your head.
My biscuits are perfect. AT's are sour.
Betty...pefect
AT...sour
Betty...perfect
AT...sour
Betty...perfect
AT...sour


MKAY?

Wait. Your biscuit recipe calls for 10 year old baking powder?

[aunt betty]

I think he already knew the answer to that question Betty Mae sour biscuit.

GONNA SPLAIN THIS TO YOU ONE MORE TIME. MKAY?

AT made sour biscuits using the recipe I provided. He used ten-year-old baking powder and that's why HIS were sour.
You need to get this straight in your head.
My biscuits are perfect. AT's are sour.
Betty...pefect
AT...sour
Betty...perfect
AT...sour
Betty...perfect
AT...sour


MKAY?

Wait. Your biscuit recipe calls for 10 year old baking powder?

Yeah but only if it's not expired, like your sense of humor.

[Tomkat]

I will be easing into retirement. Ranch will be paid off, things should be pretty sweet. I will be training my third lab about that time.

[aunt betty]

In ten years I plan on being a dick...still.

[RonE]

The neighborhood I live in was built for lower-middle class but has slid into upper-low class.
Only a few home-owners left that actually live in their homes.

Been comparing taxes online and it's sick...
The homes owned by people who live in them are WAY overvalued as far as tax assessment.
The bank-owned ones are identical homes yet are valued at a fraction of what a owner has.
Think about a "cracker-box" neighborhood where all the homes are identical. Same floorplan on every single one.

The bank-owned homes are valued at a little less than half and they pay less than half the taxes.
The home I'm in is taxed at around $2000/year while the one next-door (bank-owned) is only $750 YET IS A BIGGER HOME.

How the???

Most places have a process for protesting what owners think are unfair taxes. Usually if you can show that the value of the house is lower than the tax assessor has you on the tax rolls for they will lower your taxes. You can show similar properties with lower assessed valuations or you can show recent sales that are below the assessed valuation. I've only protested once but the result was a 40% reduction in real estate taxes.

[aunt betty]

The neighborhood I live in was built for lower-middle class but has slid into upper-low class.
Only a few home-owners left that actually live in their homes.

Been comparing taxes online and it's sick...
The homes owned by people who live in them are WAY overvalued as far as tax assessment.
The bank-owned ones are identical homes yet are valued at a fraction of what a owner has.
Think about a "cracker-box" neighborhood where all the homes are identical. Same floorplan on every single one.

The bank-owned homes are valued at a little less than half and they pay less than half the taxes.
The home I'm in is taxed at around $2000/year while the one next-door (bank-owned) is only $750 YET IS A BIGGER HOME.

How the???

Most places have a process for protesting what owners think are unfair taxes. Usually if you can show that the value of the house is lower than the tax assessor has you on the tax rolls for they will lower your taxes. You can show similar properties with lower assessed valuations or you can show recent sales that are below the assessed valuation. I've only protested once but the result was a 40% reduction in real estate taxes.

I figured there was a way to be re-assessed. The problem is that these homeowners all want to believe their homes are worth twice as much as they actually are because "it's their retirement nest egg". Two falls ago there were close to 30 homes for sale in this subdivision. They all got bought by realtors or banks and then devalued because of the selling prices. Nothing is for sale now.

I need to work on getting the one I'm in devalued or whatever. Hell, the club I like is $1200/year to be a member. Smell what I'm stinking?

[assateague]

I think he already knew the answer to that question Betty Mae sour biscuit.

GONNA SPLAIN THIS TO YOU ONE MORE TIME. MKAY?

AT made sour biscuits using the recipe I provided. He used ten-year-old baking powder and that's why HIS were sour.
You need to get this straight in your head.
My biscuits are perfect. AT's are sour.
Betty...pefect
AT...sour
Betty...perfect
AT...sour
Betty...perfect
AT...sour


MKAY?

Wait. Your biscuit recipe calls for 10 year old baking powder?

[Juice Box]

I love titties and beer!

[3legged_lab]

I made some of your biscuits, after all the mucking around with flour and lard and going to buy sour milk... er buttermilk they came out pretty good. Then the following weekend I took a 5 dollar bag (20 count) of Pillsbury grands out of the freezer and popped them in the toaster oven - 18 minutes, and zero dirty dishes later, I had four of the best tasting biscuits I'd ever had.

[capt1972]

I made some of your biscuits, after all the mucking around with flour and lard and going to buy sour milk... er buttermilk they came out pretty good. Then the following weekend I took a 5 dollar bag (20 count) of Pillsbury grands out of the freezer and popped them in the toaster oven - 18 minutes, and zero dirty dishes later, I had four of the best tasting biscuits I'd ever had.

[aunt betty]

I made some of your biscuits, after all the mucking around with flour and lard and going to buy sour milk... er buttermilk they came out pretty good. Then the following weekend I took a 5 dollar bag (20 count) of Pillsbury grands out of the freezer and popped them in the toaster oven - 18 minutes, and zero dirty dishes later, I had four of the best tasting biscuits I'd ever had.

Good. Keep in mind there is no freezer in my camp, boat, or blind.
I've made grandys too, they're good.

[3legged_lab]

I'm just yanking your chain betty, I did make your recipe and they came out pretty good.

[aunt betty]

I'm just yanking your chain betty, I did make your recipe and they came out pretty good.

It ain't my recipe.
Google "biscuit recipe" and it'll come up 50 times from 50 different authors.
It's like "americana".