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Posted on 2/23/21 at 8:25 am to DiamondDog
quote:
Stout, who is a good home inspector in Lake Charles. Trust you for a recommendation
To be honest I don't deal with many of them other than fixing the stuff they find for a few Realtors we work with. Let me ask around on who is the best and get back to you.
Posted on 2/23/21 at 8:38 am to Yellerhammer5
There is a boujee trailer park out in the Hamptons where the homes go for high 6/low 7 figures.
Posted on 2/23/21 at 8:40 am to TheeRealCarolina
quote:
There is a boujee trailer park out in the Hamptons where the homes go for high 6/low 7 figures.
I think they're called guest cottages
Posted on 2/23/21 at 8:51 am to stout
Thanks. I’ll check back in a bit. Appreciate you man
Posted on 2/23/21 at 9:05 am to DiamondDog
A trailer n the beach, who knew?
Posted on 2/23/21 at 9:12 am to stout
quote:
But the lot rent ranges around $2500 to $3000 give or take
This property has been there since 1963. Ownership is taking in between $800K and $1,000,000 per month in lot rent. They probably own many of the 306 mobile homes and bank rent on those, too. Not a bad gig.
Posted on 2/23/21 at 9:14 am to stout
quote:
You purchase the trailer and only rent the lot.
Those prices explain why on an episode of Hoarders, a guy who owned a hoarded to the ceiling doublewide was being 'helped' by the park owner to move his trailers off (he had a second on a back street) and the park owner provided him with one double wide in which to live.
Esp if the guy had stopped paying his pad rental.
Posted on 2/23/21 at 9:25 am to stout
This story blows up the whole trailer park shtick.
Posted on 2/23/21 at 10:38 am to stout
I'd think it's pretty rare for any property, right off the beach, to become available to buy. Nearly all of those types of properties are rentals. Even some big mansion type homes on the beach are rentals that being in big money.
It's been that way since the 80's. In the 70's, they passed their famous Proposition 13. Prop was passed to keep property taxes from increasing too much. It has allowed families to pass down property to relatives without paying higher property taxes that home buyers will be paying. In the 80's, they amended the laws to pass down the tax break to family. My brother pays twice as much in taxes as one of his neighbors, who has lived in the same house for nearly 20 years. People who's families have owned property since the 70's are paying a fraction of what someone who buys now will pay.
People like Jeff Bridges own their parent's homes and pay tax rates from the 80's.
It even applies to business property taxes. They tried to take the businesses out of the tax loophole in 2020 with a Proposition 15. It failed. This is the same state that says they support taxing the rich, to even things out.
calmatters.org/economy
/www.capradio.or
ETA: If you buy one of these properties, you're not only going to pay that high price, there's a high likelihood that you'll pay appreciably more in property taxes than the guy you buy from.
It's been that way since the 80's. In the 70's, they passed their famous Proposition 13. Prop was passed to keep property taxes from increasing too much. It has allowed families to pass down property to relatives without paying higher property taxes that home buyers will be paying. In the 80's, they amended the laws to pass down the tax break to family. My brother pays twice as much in taxes as one of his neighbors, who has lived in the same house for nearly 20 years. People who's families have owned property since the 70's are paying a fraction of what someone who buys now will pay.
People like Jeff Bridges own their parent's homes and pay tax rates from the 80's.
quote:
Because of a ballot measure passed in 1986, California is the only state in the country where children get to inherit their parents’ low property taxes on the homes they leave behind. That’s why you may have heard that Oscar-winning actor Jeff Bridges is paying only $5,700 a year in property taxes on an oceanside Malibu home his parents bought in the 1950’s. Like the vast majority of those who benefit from this inheritance tax break, Bridges doesn’t live in the Malibu home–he and his siblings rent it out, for $15,000 a month.
It even applies to business property taxes. They tried to take the businesses out of the tax loophole in 2020 with a Proposition 15. It failed. This is the same state that says they support taxing the rich, to even things out.
calmatters.org/economy
quote:
In Liberal California, Election Shows Prop. 13 Tax Revolt Is Alive And Well
Tuesday, November 17, 2020
Ben Christopher | CalMatters
With the failure of Proposition 15, the $140 million campaign to hike property taxes on businesses across the state finally comes to a close.
Now begins a new statewide competition to explain what the results really mean.
For opponents, which include large business groups, commercial landlords and low-tax advocates, the lesson is clear: Forty years after California voters passed Proposition 13 — capping property taxes and hamstringing state and local governments’ ability to raise new revenue — the “tax revolt” is live and well.
The state’s voters may routinely elect and then re-elect Democrats, said Rob Lapsley, president of the California Business Roundtable, a coalition of large businesses that opposed the measure. But that doesn’t mean they want to weaken what he called the state’s “last remaining tax protection.”
“This was the most favorable political climate they could have asked for,” he said. “An anti-Trump climate driving a high-turnout election, a pandemic with deficits at cities and school districts across the state.”
That the measure failed despite all that “sends very clear signals that we are not going to see this again.”
/www.capradio.or
ETA: If you buy one of these properties, you're not only going to pay that high price, there's a high likelihood that you'll pay appreciably more in property taxes than the guy you buy from.
This post was edited on 2/23/21 at 11:12 am
Posted on 2/23/21 at 11:01 am to stout
This makes me think of Riggs from Leathal Weapon.
Posted on 2/23/21 at 11:10 am to stout
As a lake or beach weekend dwelling, sure.
As a permanent residence? No way
As a permanent residence? No way
Posted on 2/23/21 at 11:28 am to stout
quote:
You can find a nice place inland a little bit for $4K.
But then you are in generic suburb type places which is fine for a lot of people and especially if you have kids. But that double wide is not the market for those type of people. Its gonna be a single surfer dude, which there are a ton of in the OC.
Posted on 2/23/21 at 11:29 am to stout
I would do that way way faster than i would spend 2.3 million for some tiny house
Posted on 2/23/21 at 11:31 am to stout
Breaking news. Living on the beach is expensive. More on this story as it develops
Posted on 2/23/21 at 12:33 pm to Packer
quote:
I would seriously consider that if we weren't in the process of building a house now.
Eta: Didn't realize you had to finance the trailer too
It’s a suckers arrangement. They treat it similar to a bond for deed. ...so the minute you miss the payment they evict you. At best they allow you to remove the trailer. But given the prohibitive expense, it’s usually forfeited, repainted, and refinanced to the next guy. It’s basically a move taken straight out of Upton Sinclair’s The Jungle.
Posted on 2/23/21 at 12:35 pm to WestCoastAg
quote:
Breaking news. Living on the beach is expensive. More on this story as it develops
Nice to see you had a 5-minute break from sucking off Lebron
Posted on 2/23/21 at 1:02 pm to stout
Next thing you'll tell me is that smoking causes cancer and that fast food isn't good for you
Posted on 2/23/21 at 1:04 pm to stout
quote:
But the lot rent ranges around $2500 to $3000 give or take
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