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

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after seeing what hurricanes have done to some beach spots, I don't think I'd ever look to buy coastal NC property as an investment
 
Damnnamit ph. I was typing my response and my 8 yo asked again what super power I would want. This week he wants to teleport.
 
BeachBumDeac said:
Bitching about the unexpected costs of owning beach property is just peak ASD/BC. Well done Biff
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This

RJKarl said:
Close, he's counting on his inheritance from me. But he knows how many casinos were BKed for taking the under on how long I'd live.
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If I haven't also carved out a portion of the RJ estate then I have no faith in humanity or boards loyalty.

DeacDiggler said:
is there a compelling reason that we have mako's mom jokes rather than knight? seems like that's a better target.
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It's business when I'm with Mako's mom, never jokes. I get in, get out, tag in knight for round 2 and then get back to posting about it on the boards.

JuiceCrewAllStar said:
after seeing what hurricanes have done to some beach spots, I don't think I'd ever look to buy coastal NC property as an investment
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My family owns some property in Sunset with 3 other families. If you have 3 or 4 couples who you like and trust, I'd advise looking into going in with when on a beach property. In my case, I just mooch off of the weeks my family gets, but it seems to work well for everyone. Fuck having 100% responsibility from a rental standpoint. I was a landlord for a 2 bedroom house in Maplewood and about killed myself. Couldn't imagine a real rental situation
 
My family owns some property in Sunset with 3 other families. If you have 3 or 4 couples who you like and trust, I'd advise looking into going in with when on a beach property. In my case, I just mooch off of the weeks my family gets, but it seems to work well for everyone. Fuck having 100% responsibility from a rental standpoint. I was a landlord for a 2 bedroom house in Maplewood and about killed myself. Couldn't imagine a real rental situation


yeah, I like that concept, but to me, that's not an "investment property"
 
deaconson said:
Damnnamit ph. I was typing my response and my 8 yo asked again what super power I would want. This week he wants to teleport.
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My 8 year old asks me that about once a week.
 
JuiceCrewAllStar said:
My family owns some property in Sunset with 3 other families. If you have 3 or 4 couples who you like and trust, I'd advise looking into going in with when on a beach property. In my case, I just mooch off of the weeks my family gets, but it seems to work well for everyone. Fuck having 100% responsibility from a rental standpoint. I was a landlord for a 2 bedroom house in Maplewood and about killed myself. Couldn't imagine a real rental situation


yeah, I like that concept, but to me, that's not an "investment property"
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Yeah I was saying he should go in with some friends for a leisurely thing and not fuck with investment properties, but I copied your post instead of his.
 
JuiceCrewAllStar said:
My family owns some property in Sunset with 3 other families. If you have 3 or 4 couples who you like and trust, I'd advise looking into going in with when on a beach property. In my case, I just mooch off of the weeks my family gets, but it seems to work well for everyone. Fuck having 100% responsibility from a rental standpoint. I was a landlord for a 2 bedroom house in Maplewood and about killed myself. Couldn't imagine a real rental situation


yeah, I like that concept, but to me, that's not an "investment property"
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My grandmother bought an ocean front townhouse at Wrightsville Beach in the 70s. It’s been wrecked by a few hurricanes. She bought it for maybe a couple hundred grand. It’s probably worth close to a million now. It’s the best investment my family ever made.

That being said, my folks have rented it for a few years now and barely covered the property taxes and maintenance. It’s also a huge pain in the ass with just routine maintenance. Everything metal just just disintegrates in normal weather years.
 
My wife and I have discussed this for the future. On the one hand, it’d be great to have some rental income to offset the mortgage and maintenance for a vacation place.

On the other, I can’t stand the shitty kitchens with dull knives and bobo cookware, and I don’t want to put in the stuff I’d want because I don’t want it stolen.

We are heading to a cabin this weekend and I’m bringing some of our own kitchen stuff because I don’t want to deal with whatever they have.
 
In my opinion there isn't such thing as "rental income" unless you own multiple properties and have a manger. Trying to weigh benefits of income vs expenses/taxes/headaches/etc, is next to impossible unless you're running a well oiled machine.
 
JuiceCrewAllStar said:
after seeing what hurricanes have done to some beach spots, I don't think I'd ever look to buy coastal NC property as an investment
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Anything on the coast has some risk but using some intelligence as to location can really help. You can buy oceanfront property with 6 feet of elevation or 20 feet of elevation- makes a difference. You can buy property near the northern or eastern end of an island on the carolinas coast, where sand is generally migrating away from (think North Topsail, eastern end of Ocean Isle, etc.) - or you can buy near the southern or western end of an island where sand is generally being deposited - might determine whether your house falls in the ocean in 20 years. Etc. We owned a place on the second row for 12+ years and never spent a dollar on repairs from a storm - mostly just lucky... Some people build and buy houses where a house should never have been - think about parts of the Outer Banks where you can see the ocean and the sound separated by a spit of sand - who thinks it is a good idea to put a house there?
 
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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Umm this is amazing. Quite possibly your best work. My mother wanted to buy a beach house around Myrtle a year or two ago for the family. Luckily My brother and I talked her out of it, mainly because we never plan to go to Myrtle Beach again. It will undoubtedly be the last place to rid itself of the pandemic. COVID could rage unchecked there until 2030 and I would not be surprised. (Sorry Brews)

Also I want to vacation in different places and experience different things. Going to the same beach bungalow every summer doesn't do it for me.
 
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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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Tried to rep you but yeah, all of this.
 
Resilient Deac said:
In my opinion there isn't such thing as "rental income" unless you own multiple properties and have a manger. Trying to weigh benefits of income vs expenses/taxes/headaches/etc, is next to impossible unless you're running a well oiled machine.
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I mean by definition any rent is income. The question is whether or not the expenses outweigh the income.
 
How late is too late to have Christmas decorations up? I feel like my Christmas tree really ties my fucking room together.
 
Resilient Deac said:
In my opinion there isn't such thing as "rental income" unless you own multiple properties and have a manger. Trying to weigh benefits of income vs expenses/taxes/headaches/etc, is next to impossible unless you're running a well oiled machine.
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nativity_1.jpg


Good luck renting out a manger.
 
WFcatamount22 said:
How late is too late to have Christmas decorations up? I feel like my Christmas tree really ties my fucking room together.
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As a bachelor bro, you shouldn't even have Christmas decorations up. Anything more than a stocking or wreath? Street cred downgrade.
 
WFcatamount22 said:
How late is too late to have Christmas decorations up? I feel like my Christmas tree really ties my fucking room together.
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I was walking out the door this morning and my wife was trying to get me to take down the 2 that are on our front porch. Our neighborhood has kept decorations up since November as a sign of solidarity and cheer for kids. I'm going to ride it out until this weekend and then they're going back in the attic.
 
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