property taxes

I have several friends that have about 800,000 to a mil in rental houses and they make about 45,000 a mouth in clear profit

I have several friends that have about 800,000 to a mil in rental houses and they make about 45,000 a mouth in clear profit Originally Posted by CatMan4u

5 homes at a total value of 800k...rented at 3k a month would be 15thousand a month collected in rent..long way from 45k a month " clear profit" LMAO wtf is the deal with you guys? are you just stupid?

https://www.rentcafe.com/average-rent-market-trends/us/

https://fred.stlouisfed.org/series/MSPUS,,,,average home price is 400k..so 5 homes = total value of 2 million..you would have to rent at 5400 a month each

5 homes at a total value of 800k...rented at 3k a month would be 15thousand a month collected in rent..long way from 45k a month " clear profit" LMAO wtf is the deal with you guys? are you just stupid? Originally Posted by deacon

Hey Deacon I am very good at math and a far cry from studio
Maybe you can interpret this
Several years ago I was connected with a couple money men that was also very connected
We bought a 70 lot subdivision with 50 homes almost done out if bank revision. For 3 mil I helped them finish all the houses for 4 vacant lots each guy kept 22 houses and sold the remaining 8 houses to pay the fix-up cost so let's see if you can do the math
22 houses at 2250 s month.that equals almost 50'000a month and a few rent for 3000 a month and.i kept those lots for 10years and sold them for a huge profit
So here's a case you clearly didn't have a clue what the details are

5 homes at a total value of 800k...rented at 3k a month would be 15thousand a month collected in rent..long way from 45k a month " clear profit" LMAO wtf is the deal with you guys? are you just stupid? Originally Posted by deacon

Hey Deacon I am very good at math and a far cry from studio
Maybe you can interpret this
Several years ago I was connected with a couple money men that was also very connected
We bought a 70 lot subdivision with 50 homes almost done out if bank revision. For 3 mil I helped them finish all the houses for 4 vacant lots each guy kept 22 houses and sold the remaining 8 houses to pay the fix-up cost so let's see if you can do the math
22 houses at 2250 s month.that equals almost 50'000a month and a few rent for 3000 a month and.i kept those lots for 10years and sold them for a huge profit
So here's a case you clearly didn't have a clue what the details are ohhhh by the way they sold the remaining lots off and got it where they had exactly 2 million in them

Catman..you ARE a good math guy!

I hate taxes... ughhh government rules... but I can understand the need for taxes

Is missouri the only state with end of year property taces?

I dont remember them when I lived in Texas

hmmm

last i checked renters pay sales tax and if they live in mo they pay earnings tax...it amazes ,e how ignorant some people are Originally Posted by deacon

yes
but they dont pay property tax(JC doesnt send them a bill for LIVING HERE)


like the rest of us who also pay on earnings and sales tax
no, I am ignorant of nuclear physics and some calculus,
but so are 99% of people, so saying anyone is "ignorant" is obvious, you gotta be more clear

Wow. A whole bunch of you need to go back to school and and pay more attention
Timmy as a tenant you will not get a property tax bill you choose not to own a house so your name will not be on the deed. But your landlord s name is I promise you he or she has factored in that cost to determine the rent rate I guarantee they are making a decent profit And a bunch of you guys have a college degree. A o you should be able to understand this

Hey Deacon I am very good at math and a far cry from studio
Maybe you can interpret this
Several years ago I was connected with a couple money men that was also very connected
We bought a 70 lot subdivision with 50 homes almost done out if bank revision. For 3 mil I helped them finish all the houses for 4 vacant lots each guy kept 22 houses and sold the remaining 8 houses to pay the fix-up cost so let's see if you can do the math
22 houses at 2250 s month.that equals almost 50'000a month and a few rent for 3000 a month and.i kept those lots for 10years and sold them for a huge profit
So here's a case you clearly didn't have a clue what the details are ohhhh by the way they sold the remaining lots off and got it where they had exactly 2 million in them Originally Posted by CatMan4u

60k per home eh? lol! yea i had a friend who went to vegas and put 3million on red..

you might as well won the lottery...now can we get back to the real world?

Ya all lets not argue lets focus on lil Timmy!
Timmy has issues as we all know and needs your guidance and help to get him through this difficult time in his life.
Lol

Ya all lets not argue lets focus on lil Timmy!
Timmy has issues as we all know and needs your guidance and help to get him through this difficult time in his life.
Lol Originally Posted by BigDeal

I fully agree. All.of my comments are true and factual
The biggest problem I see is there is too much false information people are spreading. For instance a national realtor and a very large home builder is stating we have historically high interest rates witch is completely bull shit. I bought my first house in 1976 and paid 6and 3/4 interest just like it is today. Then when I built my first brand new one in 1980i paid 11℅ when Jimmy Carter was president. So this old man lived it
The real issue is that houses and most things have doubled in the last 4 years.
So if you're going to tell him anything make sure it's true

Is missouri the only state with end of year property taces?

I dont remember them when I lived in Texas

hmmm Originally Posted by DallasRain

every state has property taxes...some just do not have personal property taxes..