How are your investments doing?

[ponytug]

The numbers I posted are average annual rate of return. It beats the S&P by a bit. If I calculated it right I think, discounting my contributions, my 5 year actual increase is around 93%. So just short of double.

93% over five years is 14.05%, pretty much where @CloverKnollFarms is.

Most venture funds fail to hit those numbers...

All the best, Peter

 

[Torvy]

Your numbers are cumulative.
His numbers were yearly

That's not how that works. 3yr and 5yr numbers are always reported cumulative.

 

[ultrarunner]

I'm also in the residential rental business, but in Europe. When you say taxes, do you mean just the property taxes, or are you including the associated income tax you'll need to pay too?
Because that's a very surprising amount of tax.
I calculate 2 month rental income for my insurance, local property tax, and maintenance expenses (I'm competent at minimising the later).
Income tax is another thing.

Property tax takes a ever bigger bite with some hefty increases but new rent control laws limit recovery.

A home rents for 3k a month with property tax now 21k… 7 months rent to cover property tax plus another for insurance .

 

[Sprinkler Fitter]

Property tax takes a ever bigger bite with some hefty increases but new rent control laws limit recovery.

A home rents for 3k a month with property tax now 21k… 7 months rent to cover property tax plus another for insurance .

I can’t believe people would pay $3000 a month to rent a house.

 

[riptides]

I can’t believe people would pay $3000 a month to rent a house.

That's a going rate for apartment rentals around here.

Houses, cost even more.

 

[ponytug]

I can’t believe people would pay $3000 a month to rent a house.

It's the local market, and partly the math of what a mortgage would be. A friend's family just sold a 3 bedroom, 3 bath, 1,790sq.ft. family home for $5.6M. Updated kitchen and bathrooms. I think that it was on the market for less than two weeks. Cash sale in a desirable neighborhood.
80% mortgage would be $37k/mo, plus monthly taxes and insurance of $12k(ish).
Not a particularly fancy house, just the location.

That's way out of my league, but you get the idea.

All the best,

Peter

 

[riptides]

It's the local market, and partly the math of what a mortgage would be. A friend's family just sold a 3 bedroom, 3 bath, 1,790sq.ft. family home for $5.6M. Updated kitchen and bathrooms. I think that it was on the market for less than two weeks. Cash sale in a desirable neighborhood.
80% mortgage would be $37k/mo, plus monthly taxes and insurance of $12k(ish).
Not a particularly fancy house, just the location.
View attachment 4356481

That's way out of my league, but you get the idea.

All the best,

Peter

Just the look, sitting on 10 or less acres here....

600-700k

 

[ultrarunner]

I can’t believe people would pay $3000 a month to rent a house.

It depends… had several doctors, 1 engineer and two military families and one retired couple that were fantastic as they wanted to spend time here… the home has had weddings and family reunions…

3k is a bargain compared to the cost of ownership unless looking at decades of ownership.

 

[ultrarunner]

It's the local market, and partly the math of what a mortgage would be. A friend's family just sold a 3 bedroom, 3 bath, 1,790sq.ft. family home for $5.6M. Updated kitchen and bathrooms. I think that it was on the market for less than two weeks. Cash sale in a desirable neighborhood.
80% mortgage would be $37k/mo, plus monthly taxes and insurance of $12k(ish).
Not a particularly fancy house, just the location.
View attachment 4356481

That's way out of my league, but you get the idea.

All the best,

Peter

Atherton?

 

[Sprinkler Fitter]

It depends… had several doctors, 1 engineer and two military families and one retired couple that were fantastic as they wanted to spend time here… the home has had weddings and family reunions…

3k is a bargain compared to the cost of ownership unless looking at decades of ownership.

So do they live in it or abnb?

I guess I would never live where homes are that expensive.

 

[lman]

That's a going rate for apartment rentals around here.

Houses, cost even more.

Probably paid with Federal government tax money that we paid.

 

[MossRoad]

... $37k/mo
....

Not too long ago that was my annual pay.

 

[ponytug]

Not too long ago that was my annual pay.

Exactly. Well out of my league.

@ultrarunner No, not even Atherton, or Monte Sereno. A corner of Los Altos, rather close to Mountain View.

All the best,

Peter

 

[riptides]

Exactly. Well out of my league.

All the best, Peter

I recall my first paycheck. I think I blurted out something like what the hades is FICA?

 

[DarkBlack]

That's not how that works. 3yr and 5yr numbers are always reported cumulative.

? What did I say that’s, “not how it works”?

 

[ultrarunner]

So do they live in it or abnb?

I guess I would never live where homes are that expensive.

Rental from shortest of 1 year to longest 4 year for the Colonel who has his daughter in the local High School and used housing allowance.

 

[ultrarunner]

Exactly. Well out of my league.

@ultrarunner No, not even Atherton, or Monte Sereno. A corner of Los Altos, rather close to Mountain View.

All the best,

Peter

Oh my… my father owned clear several acres in Monte Serena… after I was born the bills started to pile up and he let go of his dream and sold the property… in the 80’s 800 to million homes on the property… no idea the cost 40 years later…

My birth changed many things including moving from Santa Clara to Oakland California to accept a steady job…

If only a crystal ball for a look into the future.

 

[ultrarunner]

So do they live in it or abnb?

I guess I would never live where homes are that expensive.

I’m a bargain with 5 bedrooms on 17 waterfront acres compared to local listings…

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[plowhog]

A friend's family just sold a 3 bedroom, 3 bath, 1,790sq.ft. family home for $5.6M.

Housing values are driven by location, density, cost of new construction, and more.

Yesterday I walked my dog past a nearby house for sale. The broker wrote:

"Recent new-construction in the area has commanded approximately 1,300+/-sf"

$1,300 ft ???

Neighbor sold two years ago at $1,000/ft, and I thought that was astronomical ...

 

[Fuddyduddy1952]

I've never understood property values. I guess it depends on what appeals to the tastes of the majority? My wife & I have had two addresses, both born/lived in same town about 12 miles from where we've lived now 45 years. Last year I found a place for sale, beautiful new 4.3K' home on 175 acres that was bordered by hundreds of acres all around in a conservancy (beautiful old forest). Miles of new fencing, paddocks, 18 horse stalls, lots of buildings, arenas, beautiful creeks, lake, custom riding area custom designed (that alone was a mil), water & electric most everywhere, postcard views, off of a secondary paved road with almost no traffic (house 1/2M off the road). Generac generator...list goes on. 10 miles South of a nice town with all the shopping/restaurants you'd need & 10 miles North of an exclusive large lake (20,600 acres) with restaurants, shopping.
Wife didn't want to move (15 miles from home now)...too sentimental.
That place sold for $1.25 Mil.
If someone were to board horses that alone would way more than pay mortgage.
We visited a good friend & his wife in Palos Verdes, Ca. in their 1K' townhouse, one of hundreds in this complex, no yard (zero), 2 car garage. We had to park on the street far away.
We ate in a restaurant not far, $65 pizza worse than Dominos. His place is worth about that.
??????