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Offer Signed on TEXAS MONEY PIT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
invite response
2017 Apr 20, 10:48am 1,612 views 3 comments
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PockyClipsNow
2017 Apr 20, 10:59am
RE in texas is a normally a money pit except for flippers who know what they are doing or get lucky and buy low.
This is because of endless land, no NIMBY or slow growth laws restricing building, and HIGH AS HELL (up to 3%) property tax which they reassess when price go up.
Its actually a great state which will always have affordable housing because of these reasons.
Your mistake was buying with a loan, you should pay cash, then rentals are profitable, in a good year.
David9
2017 Apr 20, 11:16am
Your mistake was buying with a loan, you should pay cash, then rentals are profitable, in a good year.
I think that statement applies if you are a 'Straight, White, Male'.
Although, I do admit, I enjoyed being the town Jezebel as a Gay White Male.
However, even with my computer skill, no one would hire me.
Thus, I had to abandon the State in 2009.
PockyClipsNow
2017 Apr 20, 5:57pm
Theres lots of gay people in Austin. You must have visited it.
Austin isnt exactly Castro street or SF but gays there are slightly less likely to get a beat down from drunk rednecks than in Dallas. right?
Dear Patrick.net Friends,
After 11 years, I have an offer signed for asking price, $128,900 on my Dallas Condo ! I paid $91,000 for it in 2006. The condo is not updated and as is. The Property Value dropped into the $70,000 range for many years. Even then, the taxes were high at just over $2,000. This year, the taxes went up to $3,400. Enough is enough !
I have endured renters sending my half the rent, evictions, a $3,000 Air Conditioning fan, a $7,000 mini upgrade (Which at $200 a month clear, when the rent was paid !I still have not gotten back !!!)
I am not a religious person, but THANK GOD this Money Pit / Monkey is nearly off my back !
Oh, sure, those who bought in California several years back, congrats. :-)