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Old 11-01-2011, 06:50 AM
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I am curious about how many of you guys own rental houses. I am looking to get started in the VA area. What are your thoughts on the best cities? I am possibly thinking college housing and middle class homes, no slum/ junk. Thoughts??
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Old 11-01-2011, 08:03 AM
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My acquisition was a no-brainer...the property next door to me came up for sale..and at a price I could not pass up.

I had owned rental property in the Tampa area for many years, and will be getting back in.

The secret always has been to buy the worst house on the best street over the best house on the worse street.

There has to be some really good deals out there right now...but all indications are it may be 8-10 yrs before we can expect some appreciable gains in value...
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Old 11-01-2011, 08:07 AM
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Originally Posted by jkapl001 View Post
I am curious about how many of you guys own rental houses. I am looking to get started in the VA area. What are your thoughts on the best cities? I am possibly thinking college housing and middle class homes, no slum/ junk. Thoughts??

Investing in a town where you can't keep an eye on your product requires a certain amount of nerve I don't find myself to have yet. I almost made the move on a condo in Fl. but ass. conditions scared me off.

Renting in a collehe town could be profitable but also you could get the wrong kids/adults in and have a major headache. A management co. or trusted relative will be in order for sure and you'll need a reliable contractor for fixes.

I'll be watching for the reply of others myself.
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Old 11-01-2011, 08:41 AM
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Damnit boy don't you read ! The freakin world is coming to an end and your buyin condos...! You need to be buyin zombie blasters, ammo, potted meat product, and L Ron Hubbard books....
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Old 11-01-2011, 03:56 PM
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If you are not getting a cash on cash return after all expenses - dont do it...

And if u r going to buy,,,, get one close that you can deal with on your own....

Good luck
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Old 11-01-2011, 04:18 PM
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Originally Posted by triplenet View Post
If you are not getting a cash on cash return after all expenses - dont do it...

And if u r going to buy,,,, get one close that you can deal with on your own....

Good luck
^Good advice!

I have residential property and its not been a headache but there is not much upside unless you can steel something that is in a neighborhood that is in the midst of turning around. I am in a tax bracket where the year to year losses don't help, I don't make money on the expenses to speak of and the value hasn't changed all that much.

Buy a commercial property instead...I wish I had bought/built a storage facility or a commercial strip center instead.

One of my business partners has small apartments buildings (4-5 units per building) near campus in a college town...he has done well. Down side is its in a different city and he has to pay to have it maintained.
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