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  #611  
Old 01-27-2009, 09:56 PM
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flairland flairland is offline
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Awesome property and house Tom, I'm jealous. Are you planning to make this 'home' for a while?
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  #612  
Old 01-27-2009, 10:27 PM
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tthomass tthomass is offline
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Yes, it will be home away from home for a while. I plan to purchase other investment properties too.........this one is just a stepping stone. Time comes for me to pack up and build my own place I'll be able to do so and have it paid or close to it.

As my brother-in-law told me.........."if you don't have a mortgage, you're rich"...............I'd be happy with paying the mortgage if I could trade in my overhead!
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  #613  
Old 01-28-2009, 08:28 PM
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flairland flairland is offline
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When you say investment, are you talking fix it up and flip it? Or fix it up and rent it? How long do you intend to live at this current property? When you get a mortgage for a property like this, or any other investment property, will you increase the mortgage principle to allow cash for improvements, or how do you cover those costs?
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  #614  
Old 01-28-2009, 10:03 PM
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tthomass tthomass is offline
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Costs are out of pocket. I am in the process of refinancing already and taking on additional principle for a few things.

I will live here for who knows how long. I'm young but plan to stay at this house for some time.

Its an investment because I paid 60% of what it peaked at and I'm backed up to a new community being built with $3mil+ houses. Both my property value and taxes will rocket in a few years.

Here's a thought........don't bail out CNN, let them go out of business and people may realize they have more $ in their account then the media tells them!
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  #615  
Old 01-28-2009, 10:17 PM
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DVS Hardscaper DVS Hardscaper is online now
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Yeah. Expensive nearby homes and property value is great if you wanna sell.

But if you plan to live there a long long long time - I want my property value to remain AS LOW as possible, property taxes can be quite taxing! Some of my neighbors talk about high property values, and every time I say "screw that, that just means more money I have to pay".
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  #616  
Old 01-28-2009, 11:01 PM
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STL Ponds and Waterfalls STL Ponds and Waterfalls is offline
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The guy that bought my parents home a few years back is being forclosed on for the back taxes which comes to 18K in almost 3 years. It was a nice quite cheap area when I was a kid '70's '80's '90's but the yuppies fixed that.
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  #617  
Old 01-29-2009, 02:39 PM
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flairland flairland is offline
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Here's a thought........don't bail out CNN, let them go out of business and people may realize they have more $ in their account then the media tells them![/QUOTE]


100% agree!
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  #618  
Old 03-08-2009, 06:56 PM
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kreft kreft is offline
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Anything new todd?
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  #619  
Old 03-08-2009, 10:12 PM
Lawnworks Lawnworks is offline
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Quote:
Originally Posted by STL Ponds and Waterfalls View Post
The guy that bought my parents home a few years back is being forclosed on for the back taxes which comes to 18K in almost 3 years. It was a nice quite cheap area when I was a kid '70's '80's '90's but the yuppies fixed that.
I have just come to realize that no one in this country actually owns there property. I just paid off my abode a couple months ago, but if I don't pay my property taxes the gov't takes my home... so in reality we will always lease our property from the gov't... all I have done is decreased my monthly payments.
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  #620  
Old 03-12-2009, 05:26 PM
BostonBull BostonBull is offline
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I will be copying the fence and gate you did on page #12. What kind of stain did you use on it, and how well does it hold up over the years?
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