Housing

[GinandTonic]

7k us for a house? Wow. A garage in the se on england starts at three times that.

 

[JerichoHill]

Be careful with that logic. You know and I know that returning 18% annually on equities is not realistic.

I invest myself. My averaged rate of return has been 15% since 1998.

The hiccup year, of 2001, was 10%. Despite the stock market fall and recession, I still made out like a bandit.

My approach is similiar to that of Buffett, but much more narrowly focused on a select group of industries. I do get some busts, but more often than not I am right about a company (hence I make money)

 

[marioh]

I know I use to live in Chicago ... LOL Now I flip houses in the rural south I just bought one at the courthouse steps for $7000 not a totally crappy neighborhood its about an 1930's vintage and 1800 sq ft. granted I'm going to have to do a lot of work to it, but all it cost me is time and supplies, really nothing major like jacking up all the floors. Might have $15,000 total in it when finished and sell it for mid $50's - low $60's

Sweet. Basically doubling your money in the end. I can't even imagine buying property for only $7000, much less a house. For $7000, I'd expect to be buying something like the unabomber's shack in wyoming.

I need to get the hell out of NYC. It's really warping my sense of reality. I'll see a house for sale for $400,000 and the first thing that jumps into my mind is, "the place must be a dump".

 

[JerichoHill]

yeah, we're doing a 100k renovation/addition on my gf's place, which will increase its value by 200-300k

location. we can walk to shops, dining, good neighborhood, good schools, and walk to the metro

 

[Leatherneck]

Sweet. Basically doubling your money in the end. I can't even imagine buying property for only $7000, much less a house. For $7000, I'd expect to be buying something like the unabomber's shack in wyoming.

I need to get the hell out of NYC. It's really warping my sense of reality. I'll see a house for sale for $400,000 and the first thing that jumps into my mind is, "the place must be a dump".

Around here $400K would by you a palace, the main reason so many people retire here just on the money they use selling there house on the west (left) coast or up in NE. I have 2 friends right now trying to sell their FL homes to move here, after one visit. Hard to sell a coastal home in FL BTW nowadays.
Granted when I say court house steps it's court house steps and it was pouring down a hard rain and the sale stayed outside and you have to settle up right there I think there was 2 others at the sale. I've seen them sell for less as little as $4000 to way to much for others, they are are foreclosures and the bank only wants what's owed. Oh and I'll quaduple my money the $15K included the price of the house too, might go $20K total, so far I've dropped about $5-6K in supplies I do all the work myself, labor is what will kill you.

 

[Whomp]

I invest myself. My averaged rate of return has been 15% since 1998.

The hiccup year, of 2001, was 10%. Despite the stock market fall and recession, I still made out like a bandit.

My approach is similiar to that of Buffett, but much more narrowly focused on a select group of industries. I do get some busts, but more often than not I am right about a company (hence I make money)

Still not as good on invested capital.
However you are kicking Warren's butt all over town since BRK hasn't even doubled over the same timeframe ($50,300/share to $90,550/share)

I think you need to give up the economist work and get that hedge fund started with me then.

 

[greenpeace]

I live in San Francisco and the prices for housing are insane. Houses that are small two-story houses that aren't sperated from the other houses and aren't very "luxurious" usually cost aroung a million or more, I kid you not.

 

[JerichoHill]

I think you need to give up the economist work and get that hedge fund started with me then.

Give up my uber-stable government gig? Never! I am managing my portfolio. Stable investment (gov) coupled with my risky investments (housing, poker, stocks) equates to me living in cancun, retired, and surrounded by clones of jessica alba.