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Forum » Misc investment brahs, need some input
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Thread: Misc investment brahs, need some input

post 1656638893 02-22-2022, 08:11 AM
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Misc investment brahs, need some input

I own a rental property in the Memphis area in a decent suburb. I've owned it since '04 and have been renting it out since '09. Payment is only $627, but house is actually very decent. I paid $120k for it. 3br, 2 ba built in '98, zero lot. I have great renters now, but they're heading back to Utah in July. Zillow has it at $220k, Redfin $212k. I currently owe $64K. I'm getting $1300/month rent now, but could potentially get $1500 since the market has went up. Yes, rent is stupid and it's actually cheap here. Landlording in Memphis is a fuking headache though. Everyone that has left in the past 12 years has left owing me something or destroying the place or both. The renter pool is just terrible. If I sell I would re-invest in something, but I just don't know what.

Selling pros
-no more headache
-selling at what could be market peak if it tanks I could lose tens of thousands
-Could avoid any future "pandemic" bullshyt with moratoriums on evictions and other handouts

Selling cons
-no more monthly income
-House needs a roof, it's fine, but from '98
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post 1656638953 02-22-2022, 08:13 AM
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Photos of said house. no virus I did the renovation myself in January 2020. Painted every square inch except ceilings and kitchen cabinets. All new flooring, new hot water heater, new light fixtures, new faucets, outlet plates, door knobs, hinges.

https://photos.app.goo.gl/1x68uAFVCEY5bfNF8
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post 1656641813 02-22-2022, 08:53 AM
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bumpit
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post 1656642563 02-22-2022, 09:08 AM
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Has it out performed your expectations or underwhelming?

If you're willing to sacrifice some $, you could work with a property management company.
Roof could be pretty costly to replace
post 1656642913 02-22-2022, 09:12 AM
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Originally Posted By CaseinPoint⏩
Has it out performed your expectations or underwhelming?

If you're willing to sacrifice some $, you could work with a property management company.
Roof could be pretty costly to replace
It's performed great, but, like I said, it bites me in the ass often. Spent $10k on this reno and those renters left owing me $5k and then the pandemic hit and my chances of winning in court were ZERO. I made that money up for sure, but it can be draining. I've considered property management, but it's hard to relinquish ALL control of something I own. I've considered it now since rent is up so high.

Thanks for the input, will rep later
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post 1656643203 02-22-2022, 09:17 AM
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post 1656643233 02-22-2022, 09:17 AM
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Originally Posted By ymer⏩
Sounds like you're fed up with renting it out.

I would sell and do whatever you want with the money.
misc party?
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post 1656643823 02-22-2022, 09:29 AM
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sell house and jump in gme,it will keep generate you 30-500% net returns per year until hedge funds close out positions or apes like me desperate and sell which isnt going to happen as i realized 60k net gains on 100k investment by swing trading last few times last year, if i traded all runups i would rake up 500-1milli net gains but i believed rando's on internet and their promises that gme woudl squeeze this and that day.
now im waiting for my entry price to exit position and start swinging big time on 80% of position.
just lol at buying property and wait 5-10 years to appreciate 100% and when you sell it you buyback different property with the same 100% appreciation in those years.
its cool when you have unlimited access to low apr credit lines and can borrow against your unpaid property to buy as many as you can but not everyone has this luxury.
post 1656644243 02-22-2022, 09:34 AM
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Originally Posted By puristhndrwrth⏩
sell house and jump in gme,it will keep generate you 30-500% net returns per year until hedge funds close out positions or apes like me desperate and sell which isnt going to happen as i realized 60k net gains on 100k investment by swing trading last few times last year, if i traded all runups i would rake up 500-1milli net gains but i believed rando's on internet and their promises that gme woudl squeeze this and that day.
Now im waiting for my entry price to exit position and start swinging big time on 80% of position.
Just lol at buying property and wait 5-10 years to appreciate 100% and when you sell it you buyback different property with the same 100% appreciation in those years.
Its cool when you have unlimited access to low apr credit lines and can borrow against your unpaid property to buy as many as you can but not everyone has this luxury.
gme?
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post 1656644403 02-22-2022, 09:37 AM
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post 1656644453 02-22-2022, 09:38 AM
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Originally Posted By ymer⏩
He's trying to scam you.
lulz what a fgt. I was about to google it, but I had to actually do some work. thx
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post 1656644503 02-22-2022, 09:39 AM
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Originally Posted By natypes⏩
I own a rental property in the Memphis area in a decent suburb. I've owned it since '04 and have been renting it out since '09. Payment is only $627, but house is actually very decent. I paid $120k for it. 3br, 2 ba built in '98, zero lot. I have great renters now, but they're heading back to Utah in July. Zillow has it at $220k, Redfin $212k. I currently owe $64K. I'm getting $1300/month rent now, but could potentially get $1500 since the market has went up. Yes, rent is stupid and it's actually cheap here. Landlording in Memphis is a fuking headache though. Everyone that has left in the past 12 years has left owing me something or destroying the place or both. The renter pool is just terrible. If I sell I would re-invest in something, but I just don't know what.

Selling pros
-no more headache
-selling at what could be market peak if it tanks I could lose tens of thousandsunlikely to be the case in the long term. Markets are currently down significantly, not a bad time to put some long term money in.
-Could avoid any future "pandemic" bullshyt with moratoriums on evictions and other handouts

Selling cons
-no more monthly income - not necessarily a bad thing when you look at the trade off. Rental income (at least in Canada) is taxed less favourably than dividend income or capital gains, and there is no headache of renters
-House needs a roof, it's fine, but from '98
Just some extra thoughts added next to the bold
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post 1656645123 02-22-2022, 09:52 AM
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Originally Posted By ymer⏩
He's trying to scam you.
elaborate on scamming part.
i have no incentives to scam anyone and never did so.
i see miscer trying to figure out way to make money and i suggested best to my knowledge
i made money on gme while working on roofing and see that 30% runups will happen roughly every 90 days until shorts close positions they will be forced to buyback ftds to keep price at the bay.
also if you check price OP ,it was 88 2 weeks ago or so now its 120 and was 130,so you could make 30% right here,im not talking about upcoming 20 days which will push price to 150-250 range before they short it back.
if you accuse someone back it up with evidences.
post 1656645233 02-22-2022, 09:54 AM
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Originally Posted By natypes⏩
lulz what a fgt. I was about to google it, but I had to actually do some work. thx
dont do it then.i coulndt care less dumbass.i just wanted to share my knowledge since you made post.
post 1656645533 02-22-2022, 09:59 AM
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Originally Posted By puristhndrwrth⏩
dont do it then.i coulndt care less dumbass.i just wanted to share my knowledge since you made post.
take it easy hoss
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post 1656645863 02-22-2022, 10:05 AM
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Originally Posted By puristhndrwrth⏩
elaborate on scamming part.
i have no incentives to scam anyone and never did so.
i see miscer trying to figure out way to make money and i suggested best to my knowledge
i made money on gme while working on roofing and see that 30% runups will happen roughly every 90 days until shorts close positions they will be forced to buyback ftds to keep price at the bay.
also if you check price OP ,it was 88 2 weeks ago or so now its 120 and was 130,so you could make 30% right here,im not talking about upcoming 20 days which will push price to 150-250 range before they short it back.
if you accuse someone back it up with evidences.
Obligatory not financial advice disclaimer

GME might be cool to put a bit of throw away money in, but probably not the best call to swap for his safer long term property play. Other shares might be better for that purpose.

All the best to you tho, definitely make some baller post if the shares sky rocket
post 1656646543 02-22-2022, 10:19 AM
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> Sell & 1031 proceeds from SFH to MFH 4plex or larger if able
> Depreciate the MFH year after year after year offsetting your personal income taxes
> Profit for the rest of your life.

Literally this is exactly what you should do.

Anyone saying anything else, other than **maybe** starting a fix-n-flip business with it has no clue what the power of commercial MFH can do.

PM if you want me to run some quick down and dirty numbers
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post 1656646893 02-22-2022, 10:25 AM
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Originally Posted By friesbruh⏩
> Sell & 1031 proceeds from SFH to MFH 4plex or larger if able
> Depreciate the MFH year after year after year offsetting your personal income taxes
> Profit for the rest of your life.

Literally this is exactly what you should do.

Anyone saying anything else, other than **maybe** starting a fix-n-flip business with it has no clue what the power of commercial MFH can do.

PM if you want me to run some quick down and dirty numbers
Honestly I would sell and reinvest in another area. Most of us here in Seattle have sold our properties due to the infinite moratorium imposed by the mayor and bought rentals in the neighboring counties. Not worth the headache.
post 1656647063 02-22-2022, 10:28 AM
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Originally Posted By tartface⏩
Honestly I would sell and reinvest in another area. Most of us here in Seattle have sold our properties due to the infinite moratorium imposed by the mayor and bought rentals in the neighboring counties. Not worth the headache.
I've considered pouring the money into a beach rental, but you bring up a good angle. I live in Mississippi and there's a town south of me that could actually be a much better place to have a rental property and the place is booming. Thanks.
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post 1656658283 02-22-2022, 01:41 PM
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Originally Posted By friesbruh⏩
> Sell & 1031 proceeds from SFH to MFH 4plex or larger if able
> Depreciate the MFH year after year after year offsetting your personal income taxes
> Profit for the rest of your life.

Literally this is exactly what you should do.

Anyone saying anything else, other than **maybe** starting a fix-n-flip business with it has no clue what the power of commercial MFH can do.

PM if you want me to run some quick down and dirty numbers
I'm not sure more units is what the OP is looking for since he states it's a pain. I think RE investment depends on the quality of the management company. Because I sure as hell didn't like dealing with tenants. Made more money investing in the stock, but I suppose that's not always going to be the case.
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post 1656658583 02-22-2022, 01:46 PM
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Sell and invest in vanguard 100, top 100 companies by market cap.

Should net you 15-20k a year from 200k. Almost what your getting from rentcels with no overhead or chit tenants. Just beware of the coming market correction.
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post 1656659103 02-22-2022, 01:55 PM
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Originally Posted By _zman⏩
I'm not sure more units is what the OP is looking for since he states it's a pain. I think RE investment depends on the quality of the management company. Because I sure as hell didn't like dealing with tenants. Made more money investing in the stock, but I suppose that's not always going to be the case.
Tenants outside of Memphis would be way better. Memphis is the ******* of the earth.
Originally Posted By Kev1972⏩
Sell and invest in vanguard 100, top 100 companies by market cap.

Should net you 15-20k a year from 200k. Almost what your getting from rentcels with no overhead or chit tenants. Just beware of the coming market correction.
dat risk tho
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