Author Topic: The Future of Lakewood  (Read 497659 times)

Offline grodnoking

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Re: The Future of Lakewood
« Reply #320 on: July 06, 2016, 08:18:04 PM »
How do you explain the 6+ Duplexes for rent available in cedarwood hills?

Is this investors who cannot sell, or buyers who cannot afford the mortgage?

Either way the bubble is confirmed imho.

http://masaumatan.com/MasaRentals.pdf
Means nothing. There may be a huge surge in appartments, but there is also a huge amount of people moving in. These apartments move fast.
I'm not who you think I am.

Offline David Smith

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Re: The Future of Lakewood
« Reply #321 on: July 06, 2016, 08:18:46 PM »
"Tax wise"?
On the books. Under the table they're raking it in.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #322 on: July 06, 2016, 08:25:13 PM »
Means nothing. There may be a huge surge in appartments, but there is also a huge amount of people moving in. These apartments move fast.
I'm talking upstairs units for rent.

I didn't even mention the dozens of apartments for rent...

Offline cholent

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Re: The Future of Lakewood
« Reply #323 on: July 06, 2016, 08:52:39 PM »
I'm talking upstairs units for rent.

I didn't even mention the dozens of apartments for rent...
Many people buy but don't plan on moving upstairs immediately.  This way they're paying the mortgage down till they feel the need to move up
Don't ask stupid questions and you won't get stupid answers

Offline grodnoking

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Re: The Future of Lakewood
« Reply #324 on: July 06, 2016, 09:00:41 PM »
I'm talking upstairs units for rent.

I didn't even mention the dozens of apartments for rent...
Still plenty of people moving into Lakewood, who wish to rent untill they find a place to buy. And plenty of people who like renting in general. You'll see the bubble when prices become abnormally low.
Currently lakewood has a 14 year rental rate (where you rent the house for 14 years and make enough to cover the price of the house ((but not the mortgage))) which is very long for an average market, but its always been like that. When it hits 16 you'll know we're in trouble.
Also if the price of house stops climbing (meaning house bought this year stay the same price for many years) then many house owners expecting the rent to cover a large amount of the mortgage will never get enough.
« Last Edit: July 06, 2016, 09:04:57 PM by grodnoking »
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Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #325 on: July 06, 2016, 09:03:21 PM »
Many people buy but don't plan on moving upstairs immediately.  This way they're paying the mortgage down till they feel the need to move up
Right, cuz the cannot afford not to rent it out. = Taking out a mortgage way out of their league

Offline yitzf

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Re: The Future of Lakewood
« Reply #326 on: July 06, 2016, 09:04:12 PM »
On the books. Under the table they're raking it in.
I know is fun to bash but that has nothing to do with it.

 The cost to build the rental units goes into the cost of the project but if they don't sell the units then they don't recognise that revenue. For example if they build 10 units and it costs $3 each and they can sell for $5, if they sell all they make $20 profit ($50 revenue less $30 cost). But it they sell only 7 then they still have a cost of $30 but only revenue of $35 for a $5 profit.
I'm not saying it's legit, but it has nothing to do with money under the table.

Offline cholent

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Re: The Future of Lakewood
« Reply #327 on: July 06, 2016, 09:05:17 PM »
Right, cuz the cannot afford not to rent it out. = Taking out a mortgage way out of their league
Not necessarily. Many choose to save money by continuing to live in a basement as long as feasible even when they own a house. I personally know many who have done this. I'm surprised you don't.
Don't ask stupid questions and you won't get stupid answers

Offline grodnoking

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Re: The Future of Lakewood
« Reply #328 on: July 06, 2016, 09:07:21 PM »
I know is fun to bash but that has nothing to do with it.

 The cost to build the rental units goes into the cost of the project but if they don't sell the units then they don't recognise that revenue. For example if they build 10 units and it costs $3 each and they can sell for $5, if they sell all they make $20 profit ($50 revenue less $30 cost). But it they sell only 7 then they still have a cost of $30 but only revenue of $35 for a $5 profit.
I'm not saying it's legit, but it has nothing to do with money under the table.
That simply brings in the money slower, and charges the taxes slower, which is good for people who get large tax deductions (like for giving charity). I'm fine with that.
I'm not who you think I am.

Offline David Smith

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Re: The Future of Lakewood
« Reply #329 on: July 06, 2016, 09:09:08 PM »
I know is fun to bash but that has nothing to do with it.

 The cost to build the rental units goes into the cost of the project but if they don't sell the units then they don't recognise that revenue. For example if they build 10 units and it costs $3 each and they can sell for $5, if they sell all they make $20 profit ($50 revenue less $30 cost). But it they sell only 7 then they still have a cost of $30 but only revenue of $35 for a $5 profit.
I'm not saying it's legit, but it has nothing to do with money under the table.
Who said it's illegitimate? They're making money in the rentals, while keeping the projects profit tax free. Nothing wrong with that.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline grodnoking

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Re: The Future of Lakewood
« Reply #330 on: July 06, 2016, 09:10:27 PM »
Right, cuz the cannot afford not to rent it out. = Taking out a mortgage way out of their league
I know someone who plans on buying land, building a duplex, living in a single basement, and renting out the rest. He's backed by relatives who dont have money on hand, but can bail him out in case of emergency (aka buy it off him), which makes the mortgage not out of his league.
I'm not who you think I am.

Offline grodnoking

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Re: The Future of Lakewood
« Reply #331 on: July 06, 2016, 09:11:37 PM »
On the books. Under the table they're raking it in.

Who said it's illegitimate? They're making money in the rentals, while keeping the projects profit tax free. Nothing wrong with that.
That was a fast turn around. Playing devils advocate arn't you?
I'm not who you think I am.

Offline David Smith

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Re: The Future of Lakewood
« Reply #332 on: July 06, 2016, 09:13:11 PM »
That was a fast turn around. Playing devils advocate arn't you?
I have nothing against people playing around to keep their revenue as tax free as possible. Never did. When the loophole or workaround is legal, all the better.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #333 on: July 06, 2016, 09:19:02 PM »
Not necessarily. Many choose to save money by continuing to live in a basement as long as feasible even when they own a house. I personally know many who have done this. I'm surprised you don't.
I do know a few. All of them are not saving, simply cannot afford the mortgage .

Offline yitzf

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Re: The Future of Lakewood
« Reply #334 on: July 06, 2016, 09:36:33 PM »
Who said it's illegitimate? They're making money in the rentals, while keeping the projects profit tax free. Nothing wrong with that.
You gotta speak to an accountant about that. I would think that you would need to capitalize and depreciate the rentals and not expense them.

Offline Super Speed

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Re: The Future of Lakewood
« Reply #335 on: July 06, 2016, 11:27:04 PM »
I know is fun to bash but that has nothing to do with it.

 The cost to build the rental units goes into the cost of the project but if they don't sell the units then they don't recognise that revenue. For example if they build 10 units and it costs $3 each and they can sell for $5, if they sell all they make $20 profit ($50 revenue less $30 cost). But it they sell only 7 then they still have a cost of $30 but only revenue of $35 for a $5 profit.
I'm not saying it's legit, but it has nothing to do with money under the table.
This is what I meant.

Offline Ydad

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Re: The Future of Lakewood
« Reply #336 on: July 06, 2016, 11:46:06 PM »
Means nothing. There may be a huge surge in appartments, but there is also a huge amount of people moving in. These apartments move fast.
-1. The rental market is 👎. I know more than a few guys with apartments just sitting around. And rent in new rentals are totally down.

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #337 on: July 06, 2016, 11:53:25 PM »


You gotta speak to an accountant about that. I would think that you would need to capitalize and depreciate the rentals and not expense them.

These developments are probably structured to be RE investors as opposed to dealers.( Cap gains vs regular IT) The owners of the LLC's are the investors not the builders.

So you are correct that they would be taking depreciation, not inventory write offs..

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #338 on: July 10, 2016, 04:01:05 PM »

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Offline grodnoking

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Re: The Future of Lakewood
« Reply #339 on: July 10, 2016, 04:42:51 PM »
What's the chaver fund?



And how do I get invited?
I'm not who you think I am.