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Need a Hand?
Your Next Project Starts with Brownstoner
kansas city is a cesspool lethecal. but then again so it most of brooklyn, so you have a point.
*rob*
Lechacal–interesting. Hard, with the shifting rental market as well, to determine what the price point is for a brooklyn property to be economically sound as a rental property.
haha jester – i’ll have to try that haha.
Biff, you didn’t have a cameo in “To Catch a Thief”? I thought I recall seeing you, wearing your white dinner jacket, at the roulette wheel near Grace Kelly.
Sorry to interrupt with something related to real estate, but there is a story I would like to share that doesn’t fit on any of the non-OT threads.
I was in Kansas City, MO this past weekend visiting in-laws. One of in laws recently got terminated from a pretty well paying tech job on the West coast and moved back to KC to start investing in real estate. He has been buying $25,000 houses (I didn’t miss any numbers – and that includes the cost of initial rehab) and renting them out for $850 a month. Carrying costs are maybe $150 a month. Once after another. Sometimes multi-unit properties with similar economics. All cash, but he could finance if he wanted to.
That’s almost a 30% annual return with zero leverage.
By contrast, most property in prime Brooklyn is priced to generate a LOSS as an income property.
Lots of ways to read this, but I think the correct interpretation is that rental properties in Kansas City are substantially undervalued and property in Brooklyn is substantially overvalued as a result of a lingering expectation of appreciation (and thus a decoupling from value supported by income).
ditto, that’s my everyday life! I took a break from cooking during my vacation. No fried turkey or ambrosia last week.
And to combine the topics of the Brooklyn Bridge Movies With a View Series and ambrosia, Edward Scissorhands is playing on Thursday, August 27. There are also some great classic movies being featured, such as To Catch A Thief and The Maltese Falcon. And no, I am in no way affiliated with this film series.
dh, that’s be a good pickup line, I’ll have to try it: “I need a baby mamma – interested?” while making the “Call me” gesture with thumb and forefinger.
Apparently he didn’t, ditto. Didn’t you hear about the accident??? It involved the stove and fireworks.
didn’t you read the trailer gas stove instructions?