All Forum Posts by: Lynn Burson

James Altucher has a podcast on rent vs own, I think.  There are a few others like Peter Schiff, I think.

They will be contrarians so they are going to be on the side of renting.  

Lars,

I am currently involved in the Destin/Miramar/Sandestin market.  However, this is not from a condo perspective but rather VR homes, lots, notes...with partners.  I do have experience with one condo (2/2) that was in Hidden Dunes & used more of as a second home & rented minimal.

I would check the regional maps on VRBO / HA for each condo of interest & work my way down. The association fees can be high but provide several amenities. The access to specific beaches also have an impact on issues such as parking, chairs...  Location is important & thus reflected in the units price.

The SOWAL RE forum is a good place to ask questions. Flipkey / TA has an active Destin forum from a renters pov. If you are comfortable dealing with people then managing your own unit will obviously provide the best ROI.

An available & reliable one stop source for this information (gross, net..) is not easy to find. The cost associated with the condo can be provided by a realtor.  I think using the peak summer months will help off set the units costs but as with anything it depends.   

There is nothing owed and they bought 20 years ago for $179k, I think. They are eligible for the home sale tax exclusion for married couples, I think.

Its a decent house with a good flow (4/3 one story) and a large yard. The wear & tear is to consider obviously but to me its just a house that increased well due to the region.

Thanks for the input.

For two building projects as an example, we called three local banks that do portfolio loans. We took the average of the three and that is what we used. These are for vacation rentals that we did interest-only with a balloon at five years.

Obviously this is different then your situation but is the same concept.  We had done business with the banks so we knew what the local market was at. Splitting profits as previously mentioned is also a good way when you're doing a quick deal such as a flip.

Thanks Rob. The CS market has really done well as of late.

Its in Pebble Creek and I think even owner finance wouldnt be worth it. Just sell it & be done with it.

Everyone needs some money. This house is part of a fragmented portfolio that I guess they will place the monies in a tax exempt MMA?

They planned-have other revenue streams for retirement.

They would use a PM (I do not want to mess with tenants) & they have no further use for it.

The 2500/month was for a smaller house 4 streets over with a 1 year lease.

It is a college town & not VR, which is my main focus. I was curious as to "does this make sense" from a traditional SFR? What would you do...

Yeah, they are just thinking of something for themselves, unconventional,...vs listing and getting a one time check.

It's in College Station & I will encourage them to change the flooring/counter tops and list it.

For some reason they want to do owner finance which they did on two previous houses. Those two did well but in both cases the buyers refi or sold anyway.

Parents retiring in approx 18 months & own a house they use minimal. Some simple numbers:

Sell as is at $350 to 375k with maybe 25k of updating/min repair. It is a 4/3 & 20 years old

White collar, golf course area. Price range for area 350k to maybe 900k on golf course.

A similar house rented for $2500/month this summer. They do not need the money & are interested in renting or owner finance vs a traditional sell. The area is not a typical rental but a community of 175K & growing. Thoughts?

We own our home. It's a choice that my wife made or demanded? To me it is forced savings that will eventually cost you MONEY over time.

The only thing of value is the dirt it sits on...otherwise it need frequent repairs, updating,.. I know each ailse of Home Depot like the back of my hand.

There are several memories, schools for the kids...the whole nesting thing but to me capital that is not very liquid and we have limited mobility. I think the avg person moves approx every 6 - 7 years?

I have done business with family (parents, sibling...) & yes it can be risky...but what isn't? All RE transactions with $$$ cause various levels of stress.

We pay what the current market is thus not to have favoritism, bias...