RWF, Inc.

Discussion in 'Original Pictures Forum' started by tthomass, Aug 27, 2007.

  1. flairland

    flairland LawnSite Senior Member
    Posts: 640

    Awesome property and house Tom, I'm jealous. Are you planning to make this 'home' for a while?
     
  2. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    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!
     
  3. flairland

    flairland LawnSite Senior Member
    Posts: 640

    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?
     
  4. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    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!
     
  5. DVS Hardscaper

    DVS Hardscaper LawnSite Fanatic
    Posts: 6,430

    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".
     
  6. STL Ponds and Waterfalls

    STL Ponds and Waterfalls LawnSite Bronze Member
    Posts: 1,177

    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.
     
  7. flairland

    flairland LawnSite Senior Member
    Posts: 640

    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!
     
  8. kreft

    kreft LawnSite Bronze Member
    Posts: 1,645

    Anything new todd?
     
  9. Lawnworks

    Lawnworks LawnSite Fanatic
    from usa
    Posts: 5,407

    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.
     
  10. BostonBull

    BostonBull LawnSite Senior Member
    Posts: 520

    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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