question for Fonz

[Lao Tzu]

You've said you own & lease real estate. Can you fill me in on your situation?

1. where did you get the real estate
2. what are your annual expenses & annual profits
3. what was the price when you purchased
4. did you opt for a full purchase or a mortgage
5. what kind of real estate is it.

I find investing interesting as hell.

Anyone else with personal experience feel free to chime in. I know i've probably asked this question before but i enjoy reading the responses.

 

[Fonz]

You've said you own & lease real estate. Can you fill me in on your situation?

1. where did you get the real estate
2. what are your annual expenses & annual profits
3. what was the price when you purchased
4. did you opt for a full purchase or a mortgage
5. what kind of real estate is it.

I find investing interesting as hell.

Anyone else with personal experience feel free to chime in. I know i've probably asked this question before but i enjoy reading the responses.

This is what I have:

1. Madrid(2 Appts. 1 2-Bdr and 1 1-Bdr)
(My mom actually purchased them and put them under my name)
2. $3000/year for community stuff and repairs/maintenance etc...
Rent(If both are being rented) comes in at 350,000pts/month.
Thats about $2,000(approx.)/month or $24,000/year
So, Net is about $21,000/year. I'm in the lowest tax bracket.......LOL so I pay pretty much nothing.(Being out of the country and a student helps here)
3. About 60 million Pesetas for both(Approx: $360K)
(They're worth about $600K now(100 million Pts))
4. Didn't purchase them. Mom did. Gave them to me.
5. Residential

Fonz

 

[Xiodus]

Your in spain? What are you doing there?

 

[Fonz]

Your in spain? What are you doing there?

Born in Spain. Spanish national. But educated abroad in the
entirety of my education.

Fonz

 

[sermon_of_mockery]

damn,spoiled much J/K wanna adopt me?

 

[Fonz]

damn,spoiled much J/K wanna adopt me?

I wish spoiled......LOL

People almost always invariably equate well off=easy life.

Nope.

MUCH, MUCH higher expectations when you're well off.

A Ph.D would probably merit a pat on the back.....
(Dead serious here)

Fonz

 

[teen1216]

Fonz, you attending school in the States or elsewhere?

 

[sermon_of_mockery]

I wish spoiled......LOL

People almost always invariably equate well off=easy life.

Nope.

MUCH, MUCH higher expectations when you're well off.

A Ph.D would probably merit a pat on the back.....
(Dead serious here)

Fonz

I know you've worked hard in school,but please don't whine about being well off.And yes you are whinning.

 

[Fonz]

Fonz, you attending school in the States or elsewhere?

States.

SM...the bigger your life gets the more problems you encounter.

The simpler the better IMO.

Fonz

 

[thx9000]

You need to pull the equity out of you apartments. You're only getting $24,000/yr on $600,000 of property plus appreciation of course. I have no idea what property taxes are like over there, but assuming they follow the trend of always higher than US based taxes (shit they even have an owner's tax on TV's and radios in EU) then you are probably paying at least 7K of that 24K towards property taxes.

Even if personal property taxes are zero, you’re still not doing well. I know for a fact you could purchase two 300K townhouses here in N. VA and rent them for at least $2200ea and perhaps $2500ea per month (53K to 60K/yr) and still enjoy historical appreciation of 8% per year (or the more recent 17% per annum if your lucky).