What could you rent it for, if you bought the cute one and decided it wasn't for you, but you liked it as an investment, or you wanted to rent it some years and not others?
What could you rent it for, if you bought the cute one and decided it wasn't for you, but you liked it as an investment, or you wanted to rent it some years and not others?
Ah, here's a rental:
https://www.zumper.com/apartments-fo...ts-st-louis-mo
1050. Hmm. Meets 1 percent rule.
Bigger and cheaper! My next place definitely won't have stairs, though.Originally Posted by Tybee
I've vetted the other one, since I lived there, and I love the layout, size, private patio space, entryway, the large kitchen, en suite bath, pools. The over-the-top staging (and color combination), not so much. It's appreciated almost 1000% since I bought mine--from 35K to 319K--if my math is right.
Are you looking in earnest now, IrisLily? How exciting. (I get my thrills vicariously these days...)
$300 is nothing. The first high rise in Indy has a $1,200 monthly HOA. Monthly - 1217, Monthly, Association Home Owners, Common Cable, Exercise, Insurance Building Hazard, Maintenance All Ground, Maintenance Building Exterior, Pool, Security, Snow Removal, Trash Removal Prices have gone up as the units have been remodeled.
Well this old building has no exercise room, no pool, nor do I want to pay for those features.
The one thing that really bugs me about the building is that the lobby is dowdy. I mean it looks like aunt Mariam‘s living room. It has a lowered ceiling, ceiling tiles, n that beautiful gracious lobby entry. UGG.
Jane, I guess I’m looking in earnest because I’m besotted with this building. I’m looking at both units this afternoon so I’ll let you all know how it turns out. DH is cranky and unhappy if I buy something. So what else is new!
I've personally never known real estate to depreciate, though I know that can happen. So You can always sell if it becomes troublesome, but I doubt you will. When I bought my condo, I knew immediately when I saw it that I wanted it (after looking at many, many others). Wait for that feeling. It may be that you'll have to look at a few more buildings--or take on the lobby remodeling yourself. Waiting impatiently to see how this goes.
I always lose money on real estate. Always. With no exception!
brilliant find! This is what I need, to rent a unit in that building before I commit to buying.
Except that I’m not ready to move from my city house yet, but dang it, that unit is perfect! Thanks Tybee.It is one of the full one bedroom units that’s not too big for me but I don’t want an inch bigger.
Iris Lilies, we have also lost money. Not a lot. More than made up for it with other investments. RE has only been just housing and not a big part of our portfolio. Both my brothers got caught in serious downturns in their locales. One brother was in central CA when 2008 happened. Houses could and did decrease 90%. They both survived but it was a long time and took some big decisions.
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