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All Forum Posts by: Richard C.

Richard C. has started 19 posts and replied 1919 times.

Post: Where the American Population is moving

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

I don't have a dog in the suburban/urban fight at all.  I'm in rural villages whose population has remained very stable for over a hundred years, and are unlikely to either grow or shrink by any significant amount.

But I've been reading about the New Urbanist revolution that is always, "Just around the corner" for 30 years.  And it ain't here.  So at this point, I am naturally very skeptical.

Post: Where the American Population is moving

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614
Originally posted by @Allen Clark:

@Richard C. - would love to see that data. Typically Forbes is not exactly the most quantitative in their writing. 

Everything I see in the Seattle area is anecdotal of course. The suburbs are booming, building new SFHs like crazy. Traffic is getting worse and new roads are not getting built. Downtown is booming too. In the suburbs rent is about $1.25 - $2 per square foot. In the city you can charge $3 per square foot. It seems to me that owning rentals within walking distance to downtown makes sense right now. However, I only have two properties and I bought them in locations where I might want to live some day. So for me, I am catering to the young urbanite. 

I would still love to see demographic research that considers what these young urbanites will do in ten years. Will they go to the suburbs or stay in the city. Time will tell but there should be data that can predict. 

http://fivethirtyeight.com/datalab/think-millennia...

 http://www.wsj.com/articles/millennials-prefer-sin...

http://www.forbes.com/sites/joelkotkin/2013/12/09/...

http://www.newgeography.com/content/004532-millenn...

As any data analyst can tell you, BEWARE CONFIRMATION BIAS!

Post: Where the American Population is moving

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

Duplicate post, sorry.

Post: Where the American Population is moving

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614
Originally posted by @Allen Clark:

The interesting thing for me is the trend toward urban. In Seattle, it seems that the people coming into the city that are in their 20s want to be walking distance to downtown and live in an interesting neighborhood. Couple that with strong tech based salaries and rents are soaring in the city. I would love to see some demographic research data that dives into housing preference ie urban vs suburban. 

 That has actually been done, and the trend toward urban is largely a myth.  I don't have the link handy, but Forbes magazine did an article on it a while back.

Two answers, both serious, but only one that SOUNDS serious.

First, check and see if you are paying by the "tip" (individual pickup at a flat rate) or by the ton.  Sounds like you might be paying by the ton.  This often actually works out cheaper, by the way, so don't immediately switch to by the tip without doing the analysis.

Second, while I don't think it is likely to be true in Alabama, in large parts of the Northeast, garbage hauling is controlled by certain families of Italian extraction, and pricing is what they say it is.

Post: Flipping Brownstones

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

I grew up in Boston.  There are not 10s of thousands of Brownstones.  There are not even 10s of hundreds.

But yes I take your point about scale.

The flip side is that if your one million dollar project goes sideways, you're in trouble, where if one of your 10 $100k projects goes sideways, you could be OK.

Post: Flipping Brownstones

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614
Originally posted by @Rick Jones:

Hi Everyone,

I have been looking for information or stories about investors flipping multifamily houses like brownstones in major cities. These would represent much higher end flips compared to standard SFR but would yield much more also. For example buy a outdated brownstone for 1.7 million, renovate for 200-300k then sell individually or as one for millions in profit. The principles are largely the same though. Buy low, renovate and sell. Granted, larger down payments are needed but I would rather raise $200k for one large project down payment than have multiple smaller SFR projects ongoing.

Has anyone had experience with this?  I may expand my direct marketing to include Boston just to feel out the number of owners who might be motivated.

Thanks

Rick

 What makes you think you can add "millions" in value for a $200k rehab?

You can possibly add significant value if you can do condo conversions, but understand that doing so is not simple.

Post: Changing tenants and cleaning

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

Professionally cleaned.  Always.  Would you want to move into a place that the last tenant "maybe" cleaned?

Post: Non-essential Request by Tenant

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

This isn't a "don't let the tenant take advantage/it's not essential/don't get pushed around" question.

The only question you need concern yourself with is this:  Is the siding dirty?

If it is, wash it.  If it is not, don't wash it.

I always err on the side of neater and better maintained, myself.  Helps with both the tenants and the neighbors.

Post: Buy sheds from Costco/Home Depot/etc and rent them out?

Richard C.Posted
  • Bedford, NH
  • Posts 2,011
  • Votes 1,614

The only advantage I can see to individual sheds as opposed to self storage steel and masonry buildings is that you can scale slowly, by buying new sheds only as you need them.

In every other way, cheap wooden sheds are going to be inferior to a storage building, and that will probably be reflected in the rent you can charge.