[Crashby]

Well... sort of.

I put my house on the market on Thursday expecting to have a month or two before it sold.... giving me time enough to buy a replacement.

Fast forward 36 hours and its sold... 6% over asking price no less. Sheesh... I had 2 offers on the 1st day.

I have 2 other investment houses... one sold a couple weeks ago, and closes around April 1st. The second will be done in a couple weeks and will go on the market around April 1st as well. Guess I'll move in there for a couple months until I find a new home for me.

This may actually be better as my furniture, etc. will 'stage' the investment house as it's put on the market. It is however somewhat in the hood...

Turns out my personal house was my best 'flip' yet... 72% price increase in 4 years...

Check out the photos and virtual tour - My new Realtor did quite the sweet job:
http://www.homesteadnet.com/advancedsearchresults.asp?mls=&minprice=0&maxprice=5000000&zipcode=&streetname=hampden&minbed=0&minbath=0&mingarage=0&minsqfeet=0&minacres=0&waterdesc=any&waterfrontname=&minyearbuilt=0&maxyearbuilt=2007&numofresults=5&x=0&y=0

 

[BurlyShirley]

Sweet! sounds like you need to buy a brand new kickass MTB with that 6% eh?

 

[Squeaver]

Well, at least you made a profit. I just hope that when it comes time to sell our house that we will make a decent profit, something to put down on a new house wherever we get orders to. Good luck with your new house hunting.

 

[Crashby]

The profit came largely from a complete renovation incl. an attic conversion. I think that my area has only appreciated about 8-9% since I owned it. Its really what got me started in the house flipping business. Ironic that I made more money on it than the other houses . Also, since I was primary occupant over the time frame, my gains are tax free.

 

[mshred]

Sometime in my life i want to flip a house like that, but I'm always scared that i will end up with no money and home. It give me nightmares man! NIGHTMARES!

 

[jimmydean]

Nice work!

Dude, a house for $100k is unreal to see. When I moved to Portland 14 years ago, you could get a house for less than that. But now the 900 sqft condos list for $175k. Of course they also are sitting empty along with a majority of the houses on the market right now.

 

[Crashby]

Nice work!

Dude, a house for $100k is unreal to see. When I moved to Portland 14 years ago, you could get a house for less than that. But now the 900 sqft condos list for $175k. Of course they also are sitting empty along with a majority of the houses on the market right now.

Yep... Buffalo/Rochester/Syracuse is the most affordable housing in the country. But it has the 4th highest property taxes.

For your 'dream' house here around Rochester (2500 sq house in the country with 10 acres or so (300-400k-ish)), you can expect to pay close to 10 grand a year in taxes.

In a completely unrelated note, I snapped this cameraphone pic of David Beckham and his wife 'Posh' this afternoon at Venice Beach...

 

[jimmydean]

Wow, that's insane tax right there. A friend owns 14 acres and about 2800 sqft home and the taxes run about $3000 a year. Oregon has some crazy property taxes, but nothing like that.

 

[douglas]

house looked great in the virt tour

Venice beach, what a fun place to hang out at!

 

[splat]

Good Job!!

where are you planning to move to ?

and Yeah New York State has Insane taxes, I know I think Taxachusetts is bad , then look at NY and Mass ain't so Bad.

 

[Crashby]

Good Job!!

where are you planning to move to ?

and Yeah New York State has Insane taxes, I know I think Taxachusetts is bad , then look at NY and Mass ain't so Bad.

The profits were pretty good on this "residential flip" that I'm going to do at least one more (live and rehab with the intention to sell in 24 months) - once again for the tax free gains. After that, I may get a place to settle down with (Pittsford, Mendon, Victor, Brighton (if you are familiar with Rochester).

 

[fuzzynutz]

10 grand a year in taxes for 10 acres is not bad at all. I live on about 1/4 acre and pay over 12k a year in taxes.

 

[TreeSaw]

Wow Crashby! Congratulations!!!! You'd be welcome to crash at our place, but it's a heck of a commute

 

[manimal]

wow, i didn't realize that rochester was that affordable, well aside from the property tax. that house price is relative too what i pay down here. 2400sqft, 1 acre for $127k and i only paid $1100 in taxes last year.

 

[Sherpa]

10 grand a year in taxes for 10 acres is not bad at all. I live on about 1/4 acre and pay over 12k a year in taxes.

People who pay 12k a year in property taxes here live in 10,000+ sqrft houses that cost easily over a mil.

 

[Crashby]

If you are looking for a residence that you plan to sell for a profit in a few years, you really have to watch those variable costs (maily property taxes). If I got a place that was 8k/yr in taxes, around these parts, that could really lower your margins.

 

[DRB]

I thought it was going to be some sort of house you were buying fell thru thing leaving you completely in the lurch which totally sucks.

Your's is a good kinda homeless.

 

[Mtbkngrl]

Nice. Want to sublet my apartment til sept?

 

[Crashby]

Nice. Want to sublet my apartment til sept?

...only if you stop by.... frequently...