Sacrifices at the altar of the County Fair Judges
7 years ago
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An offering on the alter of critique.
Comments (59)Maro You hide behind your words; however, I don't believe I possess a way with words. Of course no one expects to find perfect usage in forums. But, a Writer's Forum?? I am new to this Garden Web forum; and, probably haven't the right to be here. I just happened upon this forum after becoming bored with some of the others. The words here just seemed to pull me in. And, then I had to read every last post. I did, however, wonder just what "alter of critique" could mean. Is it more sacrilegious to use "alter" when you meant to use "altar" than it is to use commas at random?...See MoreShare the story of how you acquired your first rental property
Comments (20)I bought a condo before getting married. I bought my first condo (2bed/2bath) with the intention of getting a roommate to help with the mortgage. When we married, my husband already had a house, so I moved into the house, and we turned the condo into a rental. We had about $100 per month negative cash flow in the beginning. Many years prior to that, my then single husband bought a house in a suburb. Hated it, and bought another in the city and turned the suburban house into a rental. But, he remodeled the new house, ran out of money, rented out the house and he himself rented a small room to save money.... When he finally moved back into the newly remodeled home, he had many roommates to help with the finances. When we were first married, we built a mother in law apartment in the basement and rented that out. That helped with our expenses. We did not ask her to leave until my son was 2 years old. We then reclaimed the basement for ourselves. (You asked for stories and sacrifices...) We now have enough cash flow so not having rental income for a few months is not a big deal. This gives us the luxury of picking "good" tenants. We only pick tenants who are professionals with good jobs and stellar credit and rental record. The longest we have had vacant rental is about 3 months. We are also in an urban environment where many young professionals cannot afford to buy due to the housing price. Most houses in a suburban subdivision do not make a good rental, unless you can make the rent 1/3 or less than the monthly mortgage of buying the property. (now days, that may not be true because of the downpayment requirements have gone up for buying a home...) Like most everything else in real estate, it's location, location, location that determines the rentability, the amount of rent, the type of tenant etc. We have never needed to go to section 8 route. My condo is very close to the University and Medical school. We almost always have medical residents as tenants(currently dental student and the working spouse). We don't rent to undergrads. They have "no income" and do not qualify in our minds. Our suburban house is near many tech firms in the area, and we tend to get techies with well paying jobs living in the house. melle sacto, not only do you need to have enough money to get through prolonged vacancy, you need to be able to deal with unforseen emergencies quickly. These rentals are your investments. You don't want to do anything to devalue that investment. For example, we had a leak in a very old bathroom. We decided that it was a good time to update the bathroom rather than "patch" fix the bathroom when the tenants moved out. The tenants move out when they want to not when you have the money to fix the bathroom. Like any other business, you need to have available capital when you need it. In order to rent the property quickly, you need to make it look fresh with regular painting, yard maintenance, deep cleaning, etc etc. The most recent tenant turn over uncovered very old sliding glass doors that were not closing property due to age and settling etc. It was noticeable enough and would have detracted from the house from the potential tenants point of view. Again, we had to spend a few thousand $ to get them replaced. This is a regular part of being a landlord. We will probably get one more rental, either a duplex or a quadplex. (our next door neighbor probably has 10 houses/buildings or more) Anything larger than that, we are not willing to manage ourselves. We call trades people for just about everything that needs to be done. It is not worth doing it ourselves at this point. Initially, you will have to do everything yourselves, ie painting, yard work, cleaning, etc. If you and your husband are handy, you will spend less money versus calling someone in. Again, this is not on your schedule but the house's schedule. My brother has a dulplex that he rents out and also the house my parents willed to him. He too had to spend money when things happen. (both of our rentals needed new blower for the furnace this last winter.) We just laugh when these things happen.... Unlike calliope, I consider the risk I take with the rentals as a controlled risk. I actually think it is much less of risk than money I put in the stock market. However, a rental has little potential for huge growth as would in some stocks. To be a successful landlord, you also need to learn your market. In some markets, it is not a feasible business model. For example, I would not buy a rental in a rural area with high unemployment. But I would buy a rental in an urban environment with a large number of transient well paid professionals. Rental properties are a part of our entire portfolio along with other more and less risky things....See MoreInheriting valuable property in CA - Tax question
Comments (23)In my area the property owners taxes lock upon reaching retirement age and the school district taxes are removed from the appraisal list when tallying the total tax due. I experienced a similar situation with my Grandmothers house. The county overvalued her older home due to square footage based on the sale price per square for homes in her area. What were once large tracts of farm/ranch land with farm houses out in the country 40 miles from Houston ended up becoming subdivided neighborhoods and what were once nice homes on smaller tracts of land became McMansions after bulldozing the original home. The property taxes quadrupled after her passing. I was forced to raise the rent so high on a tenant of 10+ years that they bailed. If we had a break in the taxation we could have kept the place in the family. Unfortunately we couldn't and had to sell. It was heartbreaking. What we found out was that the county undervalued the land and way overvalued the home. I'm not calling anyone here right or wrong. But, it would have been unfair to her new neighbors if I'd of kept MeMa's place at her taxes which were locked in in the mid 70's. Having said that, I can assure you that if I could have got the break I'd of taken full advantage of it regardless of how it affected everyone else. After all it's LAW regardless of how fair/unfair it may be to other property owners. Good Luck with your situation. See ya, Kelly...See MoreAugust: cicadas, cucumbers, and cumulous clouds. Good reads?
Comments (71)Friedag, thank you for fascinating anecdote about Allingham and du Maurier. I had no idea about their rivalry. I think the two remind me of each other in that Allingham (in my opinion) is trying to write mysteries which can be taken seriously as novels in their own right. In this aspect I think she struggled as a writer, but she did succeed in adding a deeper level to the standard murder mystery. I'm still not sure whether I admire Margery Allingham as a writer, though I loved The Case of the Late Pig. Professionally, she was so eclipsed by Christie and Sayers, that I feel a bit sorry for her. In Dancers in Mourning, for example, her detective Albert Campion finds himself falling in love with the unhappy wife of a man who is a suspect in several murders. Campion agonizes about how to proceed with his investigation, and the reader is meant to sympathize with his personal unhappiness, and his professional scruples. I was reminded of My Cousin Rachel, in that the narrator's shifting perceptions of Rachel shape whether the reader perceives Rachel as a murdering fortune-hunter, or merely as a victim of jealous paranoia. With the exception of The Murder of Roger Ackroyd (published at the beginning of her phenomenal career) Christie would not have added such a complex layer of characterization to an already successful formula. What amazes me about Christie is how she was able to churn out 3-4 novels a year for decades without going bonkers at the sameness of what she was writing. (To be fair, Christie was very pressured by her publishers not to stray from her set formula.) I hope to start Sayers in the fall. I have never read Georgette Heyer, but she is on my list of writers to try. Heyer's reputation has improved considerably in the last few years. She is an interesting example of the ebb and flow of a writer's respect among critics and readers. I know someone who helps choose the titles for a local book club made up mostly of career women in their 40s and early 50s. I suggested My Cousin Rachel as a possible title. She crinkled her nose in polite disdain, and made some dismissive comment about Daphne du Maurier's books. It was this incident that made me think she had become "old hat" to contemporary readers. Heyer suffered this same fate for years....See More- 7 years ago
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