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  1. #11526
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    13,961
    In the process of selling a duplex that I bought in western NJ in 2016. Income producing in a funky artsy town etc. Selling it for very very slightly above what I paid 5 years ago. Talk about a kick in the balls. Just need to get out while I still can. "Hot market" too lol.

    Yeah, file that one under the lessons learned file.

  2. #11527
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    46,540
    Well, you didn't lose money.

    What "funky, artsy town" in western NJ? I did not know that was a thing.

    Let's do some livin'
    After, we die

  3. #11528
    Join Date
    Dec 2011
    Location
    Timbers of Fennario
    Posts
    2,451
    Quote Originally Posted by Whiteroom_Guardian View Post
    In the process of selling a duplex that I bought in western NJ in 2016. Income producing in a funky artsy town etc. Selling it for very very slightly above what I paid 5 years ago. Talk about a kick in the balls. Just need to get out while I still can. "Hot market" too lol.

    Yeah, file that one under the lessons learned file.
    Lambertville?

  4. #11529
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    13,961
    Quote Originally Posted by FussyDutchman View Post
    Lambertville?
    Just up the road. Really small town. Too small clearly.

  5. #11530
    Join Date
    Dec 2011
    Location
    Timbers of Fennario
    Posts
    2,451
    Quote Originally Posted by Whiteroom_Guardian View Post
    Just up the road. Really small town. Too small clearly.
    I grew up in T'ville so it was an educated guess. At least it's been producing income for you and hopefully, with minimal maintenance. Good luck with the sale.

  6. #11531
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    46,540
    How much was the property tax?

    Let's do some livin'
    After, we die

  7. #11532
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    13,961
    Quote Originally Posted by Benny Profane View Post
    How much was the property tax?
    "Only" $3500/year taxes. Sewer is $2200/year haha.

    There are houses in the $1M range on 40 acres 10 minutes from the ski area that pay the same taxes here!

  8. #11533
    Join Date
    Jan 2010
    Location
    2 hours from anything
    Posts
    8,672
    We closed on both our transactions. Upgraded house, mountain bike trails out the door, and less land to care for. Paid $215k more for the new house than the old house but the old house appreciated $100k in 3 years. Our payment is almost exactly what it was on the old house when we originally bought it with a 4.25% interest rate, new rate is 2.375%. Would actually be a cheaper payment except we have way higher insurance costs. Basically lived in our last house for free when you factor in all costs. Not bad for only having it 3 years. We planned on the old house being our forever house but plans change. New house needs a new roof though so...

    View from the old house Click image for larger version. 

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    View from the new
    Click image for larger version. 

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    Sent from my iPhone using TGR Forums

  9. #11534
    Join Date
    Aug 2006
    Posts
    6,128
    Quote Originally Posted by neufox47 View Post
    We closed on both our transactions. Upgraded house, mountain bike trails out the door, and less land to care for. Paid $215k more for the new house than the old house but the old house appreciated $100k in 3 years. Our payment is almost exactly what it was on the old house when we originally bought it with a 4.25% interest rate, new rate is 2.375%. Would actually be a cheaper payment except we have way higher insurance costs. Basically lived in our last house for free when you factor in all costs. Not bad for only having it 3 years. We planned on the old house being our forever house but plans change. New house needs a new roof though so...

    View from the old house Click image for larger version. 

Name:	IMG_2782.jpg 
Views:	103 
Size:	1.09 MB 
ID:	365643

    View from the new
    Click image for larger version. 

Name:	IMG_2950.jpg 
Views:	105 
Size:	985.5 KB 
ID:	365644


    Sent from my iPhone using TGR Forums
    Wow! Congrats! You've had a busy winter!

    Sent from my SPH-L710 using TGR Forums mobile app

  10. #11535
    Join Date
    Dec 2011
    Location
    Timbers of Fennario
    Posts
    2,451
    Nice R, great view and sounds like an upgrade all around! Perfect timing on the rates for sure, we close on a refi Friday, 2.125% is almost stealing.

  11. #11536
    Join Date
    Nov 2002
    Posts
    6,748
    Star Valley Ranch is well over an hour away from any source of income, and requires at least 350 a square to build currently. That doesn't include well, septic, the lot, or sitework.


    Yep. That describes almost anywhere expect places with access to a cheap (mostly undocumented) labor pool. Everybody wants affordable housing, environmental sustainability, living wages and restoration of the middle class.

    But they also want a custom home with solid surface counter tops and 750sq. ft. of living space per adult. Apparently now, boys and girls can't share bathrooms. A three car garage is small. And oh, while your at it, I'll take two of those houses.

    Until public policy incentivizes higher densities and smaller homes, this is gonna be reality. We will see how the new rural transplants can deal with the isolation. I'm already seeing it in my neighborhood. People see you walking the dog and than come outside and want to talk to you. Sure, COVID has something to do with it, but it's a different scene. Suburbia in the mountains only exists in a few places and hopefully that doesn't change too quickly. I get a lot of "people sure are nice around here","Yep...sure are" keep walking.

  12. #11537
    Join Date
    Sep 2006
    Posts
    5,262
    In case anyone wants to launder some cash - Here's a good opportunity.

    https://www.yahoo.com/news/trumps-tr...165752058.html

    Eric Trump on Wednesday morning tweeted out a real estate listing for a luxurious beachfront home in Florida with an asking price of $49 million, nearly $31 million more than an LLC controlled by Eric and Donald Trump Jr. paid for the property in 2018, when it was purchased from President Donald Trump's sister, Maryanne Trump Barry.

    Located next door to Trump's Mar-a-Lago club in Palm Beach, the home is technically owned by 1125 South Ocean LLC, according to the Palm Beach Daily News.

    Broker Lawrence Moens started advertising the property as an "exclusive" listing over the weekend, according to the Daily News.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  13. #11538
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    46,540
    So, is that a comp price, or did they just get an awesome price a few years ago, because, you know...

    Let's do some livin'
    After, we die

  14. #11539
    Join Date
    Sep 2006
    Posts
    5,262
    Based on the Trump MO; undervalue assets for tax purposes, overvalue for loan purposes.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  15. #11540
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    46,540
    Well, not really that. But, I'll bet a ton of people offered them assets at really low prices the past few years to curry favor of some sort. And, of course, they bit.

    Let's do some livin'
    After, we die

  16. #11541
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    639
    Quote Originally Posted by Toadman View Post
    Based on the Trump MO; undervalue assets for tax purposes, overvalue for loan purposes.
    Sounds like a sound strategy. I invite you to share yours....lol.

  17. #11542
    Join Date
    Feb 2019
    Posts
    5
    Clementine. Great trails. Ride there often when getting out of snow in Reno. Did that house come with a BBQ?

  18. #11543
    Join Date
    Sep 2006
    Posts
    5,262
    Quote Originally Posted by sirbumpsalot View Post
    Sounds like a sound strategy. I invite you to share yours....lol.
    My strategy is not to get audited by the IRS. But, it sure would be nice to only have a $750 fed tax bill this year.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  19. #11544
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    639
    Quote Originally Posted by Toadman View Post
    My strategy is not to get audited by the IRS. But, it sure would be nice to only have a $750 fed tax bill this year.
    TDS

  20. #11545
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    46,540
    Well, let's just take the wind out of the sails of any substantial Vermont appreciation.

    https://www.compassvermont.com/news/...e5ee3521d.html

    Let's do some livin'
    After, we die

  21. #11546
    Join Date
    May 2007
    Location
    Sandy, Utah
    Posts
    13,191
    Quote Originally Posted by Benny Profane View Post
    Well, let's just take the wind out of the sails of any substantial Vermont appreciation.

    https://www.compassvermont.com/news/...e5ee3521d.html
    I run my rental through Killington Management company (its in Pinnacle). You call up the Grand and ask for my unit (or other units). Mines considered an A+ rental or some shit....we did a lot of stuff to improve it over the rest of the units.
    http://www.firsttracksonline.com

    I wish i could be like SkiFishBum

  22. #11547
    Join Date
    Nov 2005
    Location
    Making the Bowl Great Again
    Posts
    13,146
    Just called and they laughed when I asked about Skidog's pad.

  23. #11548
    Join Date
    May 2007
    Location
    Sandy, Utah
    Posts
    13,191
    Quote Originally Posted by RootSkier View Post
    Just called and they laughed when I asked about Skidog's pad.
    Lol. Unit A23.

    Sent from my Pixel 4a (5G) using TGR Forums mobile app
    http://www.firsttracksonline.com

    I wish i could be like SkiFishBum

  24. #11549
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    8,343
    Just called and about A23 and they said yeah the guy with the small dick owns it.

  25. #11550
    Join Date
    May 2007
    Location
    Sandy, Utah
    Posts
    13,191
    Quote Originally Posted by Mazderati View Post
    Just called and about A23 and they said yeah the guy with the small dick owns it.
    That's the unit

    Sent from my Pixel 4a (5G) using TGR Forums mobile app
    http://www.firsttracksonline.com

    I wish i could be like SkiFishBum

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