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Discussion in 'Heavy Equipment & Pavement' started by Scag48, Sep 4, 2007.

  1. Scag48

    Scag48 LawnSite Fanatic
    Messages: 6,067

    Thought I'd throw up update as to what I'm up to. Back to school in 3 weeks, I'm taking 18 credits this quarter :dizzy: I'm trying to finish as much as I can in the next 2 quarters so I only have to finish 5 or 10 credits via online classes spring quarter. I'm headed into an apprenticeship with the local operator's union in April, I won't be able to go to school full time, so the remaining credits will have to be done online or maybe at night, we'll see what they offer.

    Buying some property somewhere, I'm really gonna be broke when that happens. Looking for something I can hold for about 5 years and flip. Just land, no smaller than half an acre. We'll see what I find, I have my eye on 2 or 3 pieces right now. Wrong time to buy, going to wait until December before I put in any offers unless I find something that is an absolute steal. There's more money in buying a condo and fixing it up, renting it to cover the mortgage, and selling it, but I don't want to manage a rental business. My parents bought the place I live in 2.5 years ago and it's gone from the $90K they paid for it all the way up to about $150K right now, not a bad investment.

    Buddy of mine from back home is selling a fully loaded '04 Chevy 2500HD for cheap, picking that up in a couple weeks once he buys a new '08. Anyone want to buy an Audi? :drinkup: Fresh valves on cylinders 1 and 5 after the timing belt decided to snap with only 50K on the belt, I wasn't happy about that. I'll throw some pics up of the truck once I get everything done on it, she'll be getting a headache rack, strobes, the whole deal. It'll be nice having a vehicle I'm not worried about having to work on, the car is freaking me out lately.
  2. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Messages: 2,454

    Scag....sounds like a plan.......proactive and forward thinking.
  3. ProLandscapes

    ProLandscapes LawnSite Member
    Messages: 185

    Sounds good but don't buy property right this second. The market is slowing very fast and I think you could save 10 to 50% in the next two years. Trust me I own 3 properties, this is the wrong time to buy.
  4. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Messages: 2,454

    Well here we go........Scag, traditionally, when the housing market takes a dump what areas of real estate "move" and what areas don't? Raw ground does not produce an income, so your payments are dependant on you producing an income above and beyond your living expenses.......tough to do in a soft economy and from my experience, most raw ground does not appreciate at the rate you would hope (buyers market). Housing market starts to fall apart and apartments seem to do well.....duplex? triplex?. Consider alternative ways to purchase: deliquent tax sales, forclosures, REO's.........that is buying wholesale and not retail. It is a great time to be ready to pull the trigger on real estate on the above 3. Read some books or buy a course and self teach on these little known/used techniques.......Commercial/Industrial real estate is another gig altogether, and I assume you are looking at residential........Let go of the idea of not liking to be a landlord, if you buy it right, you can hire a management company..........Lot's of really neat ways to skin the cat and the market is becoming ripe to be skinned........I see awesome opportunity if it is approached right.......I am not just saying this, these are some of the things I am doing and getting set-up to do.........
  5. Construct'O

    Construct'O LawnSite Bronze Member
    from Sw Iowa
    Messages: 1,387

    You did say skin the cat? I have been a cat skinner:cool2: for years.

    Scag by the way good luck with your new adventure!:usflag:
  6. Fieldman12

    Fieldman12 LawnSite Bronze Member
    Messages: 1,504

    Sounds like your getting a plan together Scag48 which is a very good thing. As for real estate it can be a double edged sword if your not careful. If you was buying land that you could rent out to grow a crop or something else besides build a house on it I would say go for it. As far as land goes that is strictly for a house only I would wait until prices get better. I figure prices on land that can only be used for houses will drop due to the great decline in house building. Your area may be different and things could be booming there for all I know.

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