Ferrari Mailing List: Re: OT - Investing? Selling? No Ferrari COntent

[E M (pokiebaron]

Thanks for your good advise Robert.  I'm in the trade, so I can do, or know
ppl "here" who can do pretty much everything.  I'm on the lookout for some
places here, but I have always thought about a place a bit further south.
I've even thought about a place in Florida, as a few friends have them.  Of
course, due to distance, it would have to be a more managed property, and
not require as much hands on from me.

Again, thanks for your help Robert.

Ed
911SC

2008/11/20 robert_h_bowser [at] juno.com <robert_h_bowser [at] juno.com>

> General rules:
>
> 1.  If you can't afford negative cash-flow:  Property value no more than
> 100 times monthly rent (i.e., don't pay more than $200K for a house you
> can't rent for more than $2000 a month).
>
> 2.  If you need a tax deduction, and can afford negative cash-flow for 5 to
> 10 years:  Pay up to 200 times monthly rent (i.e., $400K house renting for
> $2000 a month).
>
> 3.  Rental properties are like children, they need constant attention and a
> lifetime commitment.  Make sure you are really willing to do that.
>
> 4.  If you are not a handyman jack-of-all-trades, forget it at any price.
>
> Of course, your results may vary.
>
> Right now, prices are still too high in most areas to make renting out a
> house pencil out.  I've been buying and renting out houses for 35 years now.
> Can be lucrative, but not an easy road to riches.
>
> Bob
>
> -- "E M" <pokiebaron [at] gmail.com> wrote:
> anyone have any thoughts on buying a rental property now.  Sounds like
> there
> are some deals to be had.  Or is the incoming gov going to make it harder
> than it's worth for outside investors?
>
> Thanks for your thoughts.
>
> Ed
>
> 2008/11/20 LarryT <l02turner [at] comcast.net>
>
> > Howdy -
> >
> > I know this is not a financial list but perhaps some of you can provide
> > some suggestions -
> >
> > My (very) small portfolio has been decimated over the past couple of
> months
> > - heading down faster than a (well the analogy I had in mind may not be
> > appropriate) Fast anyway.    Should I leave it in the hopes it'll return
> > eventually?  Sell what little is left?  Keep the good stuff (Mcd,
> Dominion,
> > some Mutual Funds?) or just dump everything and buy as much gold as I
> can?
> >
> > BTW, I'm almost 59, disabled and can no longer work - what I need is a
> > bailout of several million - maybe 5 or $6MM would do.  Course, all my
> bills
> > have been paid, never late - including my mortgage so I guess I'm SOL.
> >
> > Thx --
> >
> > Sincerely,
> > Larry T  (74 911, 91 300D 2.5T)
> > www.youroil.net Oil Analysis Kits &
> > Porsche Posters/Weber parts
> > .
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