quote:
He's flipping his house today? He bought it purely as a flipping investment? Or did he just do the traditional get out of college and buy a house because he's supposed to and is going to live in it for 5+ years as his starter house? I'm banking on the latter which suggests to me he like most people don't factor in all the costs of owning a place to live in. It's not an investment - it's a house. When you're young you should be investing your free cash not locking it up in a house and renting money.

What? He said he's up about 10%, you asked if he factored in maintenance wear/tear/repair. I asked what % have these issues with home year one. Usually 0, so his 10% is accurate.

FYI I'm up $125k in my house I closed on in Aug 2012. I've put about 5k into house uplighting and mudroom. I've spent $0 in maintenance.

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Posted by cwill

Member since Jan 2005

54753 posts

Posted on 11/18/14 at 2:50 pm to ItNeverRains

quote:
What? He said he's up about 10%, you asked if he factored in maintenance wear/tear/repair. I asked what % have these issues with home year one. Usually 0, so his 10% is accurate.

No its not, it's meaningless...he bought a house to live in that he's trying to think of as an investment equivalent to being in the market when it's not.

quote:
FYI I'm up $125k in my house I closed on in Aug 2012. I've put about 5k into house uplighting and mudroom. I've spent $0 in maintenance.

Did you buy the house to live in or as an investment? Are you selling? After you sell are you going to rent or buy a comparable house at the new higher prices or downsize into a smaller house or move somewhere out in the burbs where houses are cheaper?

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