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Chat Thread 2021: huge historic day today ! you are living history congrats !

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Sounds crazy huh, It happened to us and we got a bill for it. We don't rent anymore.

I'm convinced that if you care about the property and what's inside, you can't really be successful as a beach condo landlord is to not really care about the condition of the interior of the unit, rent it as much as possible, and replace anything that gets broken with the cheapest possible option on every occasion.
 
BeachBumDeac said:
Bitching about the unexpected costs of owning beach property is just peak ASD/BC. Well done Biff
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He brought it up. I was advising him of the real world problems of owning a vacation rental.

And as one of the private financiers of this message board, I will not be addressed in such a manner.
 
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LOL that was a terrific rant.....and I'd say accurate. Dealing with renters is a colossal pain in the ass no matter where the property is, but a small beachfront place that you can rent for $1500/week is going to be one of the worst. If you get a nicer place that you can charge $4,000/week for, you'll reduce the riffraff, but that's not likely the plan if I'm following you.

If you can avoid being a landlord, you should, unless that's your full time job.
 
Cool beans, bros. Perhaps we shall just retire to the beach at a later date, but it definitely doesn't sound worth the headache from those that knows. I'm lucky enough to have different family that own beach places so I'll continue taking advantage of that shit. My wife will likely be disappointed, and it's not even Saturday night.
 
hmm couple of teachers affording a beach property? guess all the conservatives are right about those overpaid teachers only working 9 months a year.
 
BarcaDeac said:
hmm couple of teachers affording a beach property? guess all the conservatives are right about those overpaid teachers only working 9 months a year.
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Buy an affordable house, invest well, live with-in your means.


And sling that rock on the side, bro. Supplement your income.
 
mako1331 said:
Buy an affordable house, invest well, live with-in your means.


And sling that rock on the side, bro. Supplement your income.
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I'll be happy to show you an "affordable" beach house in Malibu, You should be able to get one for about $7M.

If you can get OK'd by the block committee, you could get into Sunset Beach for about $1.5-2M, but it's a few hundred yards to a cool, fairly empty beach. By buddy played music at their annual Summer block party. I spoke to a few of the neighbors. None of them could remember someone moving onto those two blocks in the past 40-50 years who wasn't related to someone who already lived there or wasn't friends with multiple people.

Before you jump to a contusion. there are people of different races who live there.
 
RJKarl said:
I'll be happy to show you an "affordable" beach house in Malibu, You should be able to get one for about $7M.

If you can get OK'd by the block committee, you could get into Sunset Beach for about $1.5-2M, but it's a few hundred yards to a cool, fairly empty beach. By buddy played music at their annual Summer block party. I spoke to a few of the neighbors. None of them could remember someone moving onto those two blocks in the past 40-50 years who wasn't related to someone who already lived there or wasn't friends with multiple people.

Before you jump to a contusion. there are people of different races who live there.
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ouch.
 
DeacDiggler said:
he's counting on that inheritance from his mom's side job
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side job? when you love your job its not work. also, she does not take money. the occasional favor or barter sure. its poetry. a work of art. she really is in it for the love of the game.
 
is there a compelling reason that we have mako's mom jokes rather than knight? seems like that's a better target.
 
Because (I think) Knight is the one who started making the jokes.
 
BiffTannen said:
Considering it would be an out of town vacation rental, weigh the following events which are likely or possible to occur and be handled by your management company:

Broken/missing lamp - management company bills you $75 to replace lamp instead of billing their renter
You need a doorbell - installs doorbell for $150 without consulting you (you don't actually want a doorbell)
Plumbing problem - pay plumber $250/hour for shoddy work
Someone stole some framed picture from 1984 off the bedroom wall - management company suggests you get some artwork

Then, you come down for two weeks in July to enjoy YOUR vacation rental condo and find that all of the linens that you purchased at Bed Bath & Beyond are all stained/missing/mismatched/and reduced in number by 15%. Your glassware is a bunch of cheap mismatced shit. There's a lot of weird stuff in the cabinets, including 10,000 coffee filters, but you can't find any of the spices you left there. Your locked owner's closet has been breached. There are stains on the carpet and pretzels between the sofa cushions. Sand lines the baseboards. Any games or cards that you've left for yourself and the renters are basically unplayable due to missing pieces. Your furniture has been moved into configurations you never imagined a sane person would even experiment with.

If you can tolerate all of that and don't mind spending every bit of your "profit" in "everyday wear and tear" then you should go for it. Not to mention that strangers have been fucking on your sofa and barfing in your kitchen sink.
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Someone put this in the hall of fame.
 
deaconson said:
side job? when you love your job its not work. also, she does not take money. the occasional favor or barter sure. its poetry. a work of art. she really is in it for the love of the game.
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Damn I thought I was the only one getting in that shit for free.
 
BiffTannen said:
Sounds crazy huh, It happened to us and we got a bill for it. We don't rent anymore.

I'm convinced that if you care about the property and what's inside, you can't really be successful as a beach condo landlord is to not really care about the condition of the interior of the unit, rent it as much as possible, and replace anything that gets broken with the cheapest possible option on every occasion.
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A lot of things definitely happen that you don't expect but I wouldn't be so negative about it - it depends on your long term plan, what you can afford, what risk level you can tolerate, how good an initial deal you can get, and what is going on in the market where you are looking. A perfect plan to me would be to buy today in a place where you like to vacation and will like to vacation years from now. Furnish and equip it as cheaply as possible to still be an attractive rental. Pay the bills and the mortgage out of pocket while using all rental income to pay down any mortgage as fast as possible. Use it yourself as you want, mostly off-peak to avoid losing large amounts of rental income. Once it is paid off your cash flow should turn more positive and you'll have a "free" place to stay or even retire.

Best case scenario would be a house vs a condo - to avoid the condo fees that can be quite high and continue to rise - and never go away. A house can be more difficult to maintain, etc. but I think it is overall a better situation if you can swing it.
 
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