How can anyone afford to rent any more?

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dammitgriff
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Re: How can anyone afford to rent any more?

Post by dammitgriff » Wed Apr 04, 2018 7:58 pm

TC6969 wrote:
23Preacher wrote:
Wed Apr 04, 2018 10:56 am
Yea,I'm retired an diggin' life right now =:bye
Its a wonderful thing isn't it?

Last month, I read about a state park that sounded interesting, so I unplugged the main power, switched the refrigerator to solar, laid my monitor down on a pillow, took my guitar out of the drivers seat and drove away!

Camping fees were only $11.00 per night.

I might find 4 or 5 parks around central Florida and do a rotating camp out for a few years!
Check out CheapRVLiving on YouTube. Good info there, videos by a Navy Veteran.
R/Griff

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Re: How can anyone afford to rent any more?

Post by TC6969 » Wed Apr 04, 2018 9:10 pm

I'll do that.
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Re: How can anyone afford to rent any more?

Post by Mighty Hd » Thu Apr 05, 2018 8:24 pm

Rentprop1 wrote:
Tue Apr 03, 2018 6:21 pm
I have a customer who moved here from NYC, ( 59th and Park Ave ) he said his rent was $16,000 per month for a 3 bedroom [smilie=011.gif] , fvck those stupid fvckers anyways [smilie=011.gif]

A fool and his money are parted.

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Re: How can anyone afford to rent any more?

Post by captain steinbrenner » Thu Apr 05, 2018 8:57 pm

flashooter22 wrote:My rent is 2100 a month for a single family in a nice gated community in central Palm Beach County. I found this fairly average for the area. Will finish off my lease this summer and I am closing on new construction in the northwest part of the county. With the way home prices are, it ended up being a better deal for me to build then buy something thats on the market right now.
Building is always the best thing to do.
I own a little less than an acre here by Gun Club and Congress, I have plenty of room to make a 2500 square feet house and with Gods will I’ll start breaking ground by the end of June.
Remember I’m a contractor and if you need help with anything lmk please.


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How can anyone afford to rent any more?

Post by dammitgriff » Thu Apr 05, 2018 9:50 pm

We need some advice building (installing?) a Deltec manufactured home on raised columns in Monroe County...the permitting process and county codes are a nightmare. Want to jump into that mess and help us out? Do we need a lawyer? Whiskey? Both?
R/Griff

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Re: How can anyone afford to rent any more?

Post by captain steinbrenner » Fri Apr 06, 2018 6:41 am

I have zero experience with that, I even had to Google it..
It seems the building cost is pretty much the same as conventional house construction, from what I’ve seen I would rather do a cbs house instead.


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Re: How can anyone afford to rent any more?

Post by dammitgriff » Fri Apr 06, 2018 7:08 am

Thanks, yep, we would if they made concrete blocks with a curve in them...the round shape of the Deltecs is inherently more hurricane-resistant.
Also, factory-made homes in sections is “supposed” to be a lot faster to set and assemble.
We will likely just keep our current little trailer and renovate it. Hard as hell to find qualified, reliable help down there.
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How can anyone afford to rent any more?

Post by captain steinbrenner » Fri Apr 06, 2018 7:14 am

Keep in mind that a round house will not be appealing to many people if you ever decide to sell it.
I’ve seen it happen to a friend in Loxahatchee, he had a hard time selling his round house.
A well built cbs home built to code has nothing to fear.


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How can anyone afford to rent any more?

Post by dammitgriff » Fri Apr 06, 2018 7:18 am

Gotcha, and I agree. We are currently planning on retiring there, because the wife enjoys the views of the Gulf across the street. Raised columns will provide much better views—and flood mitigation from storm surge, of course.
First, though, by my calculations, I’m gonna have to work until I’m 70...:banghead:

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Re: How can anyone afford to rent any more?

Post by jwperry » Fri Apr 06, 2018 8:43 am

10 years ago I had a 600-ish square foot apartment in Orlando, near Mall at Millennia (which I thought was the good side of town!) and paid around $1k a month for it. No utilities included, so after water/power/internet I was about $1300/month. Some months were Ramen & ketchup soup months, other months were more fancy.

I moved out of there and into a 10x12 room in a house for 14 months to save for my first house. I was able to save $1k month for the down payment. It also helped that I bought during the downturn when prices were depressed. The laws they were passing didn't make it any easier to be a first time home buyer.

Now I live in Auburndale and commute to Orlando for work. I4 sucks, but it is the only way that I could provide a decent home for the family away from the growing levels of nonsense & crime.

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Re: How can anyone afford to rent any more?

Post by lakelandman » Sat Apr 07, 2018 11:57 am

My Sister EX- from NY pay 3000 for this s';t hole Studio he took me to once about the size of a small kitchen like Rent say F&^ those prices... :ham'r :ham'r
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Re: How can anyone afford to rent any more?

Post by REDinFL » Sat Apr 07, 2018 12:33 pm

dammitgriff wrote:
Thu Apr 05, 2018 9:50 pm
We need some advice building (installing?) a Deltec manufactured home on raised columns in Monroe County...the permitting process and county codes are a nightmare. Want to jump into that mess and help us out? Do we need a lawyer? Whiskey? Both?
R/Griff
As far as permits, as I recall from about 15 years ago, there was an annual quota system. Probably worse, now. Another issue the .gov was making noises about was the sewage. There was a huge debate about some fancier septic systems vs the county building a high tech treatment plant and, you guessed it, mandatory hookup. I don't know how that turned out.

I badly wanted to move to the Keys 20 ears ago but, my wife ddn't, so we wasted life up here in Pinellas. I have been considering buying my freedom, we'll see, making that decsion around May or June. Preparatory to that possibility, I'm just looking for rentals to get an idea what I'm up against. If one doesn't have kids to leave an ''estate'' I don't care about owning.

While a round house might be an oddity in, say, Pinellas, and looked upon with disdain in Palm Beach, it might be just fine in the Keys. I have seen some there.

Good luck.
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How can anyone afford to rent any more?

Post by dammitgriff » Sat Apr 07, 2018 1:22 pm

Thanks, Red. I remember the quota “system” (racket!) but my little place is in a zoned mobile home subdivision on the north end of Little Torch Key...it’s survived every hurricane season since 1987! No problem replacing the MH with a site-built or manufactured, but they mandate it has to be built on a raised column foundation.
The central septic is online and we were ordered to hook up to it or else...that cost us $8,000 amortized into property taxes over 20 years. Also, had to pay $2500 to pump out and backfill my perfectly good septic tank and connect my house to the main, and the company who did the work dug a diagonal trench across my yard instead of straight down my property line from the tie-in point parallel to my fence. I’m still pissed about that. Oh, and now that we are dependent on government sewage treatment, it created a living hell after hurricane Irma took out the power to the treatment plants—nobody could use their own bathrooms for weeks after the storm!
Cannot get competent contractors down there that guarantee their work. Had Keys Roofing repair and reseal the roll roofing on my mobile home and they tried to get out of their warranty a couple years later when a leak developed (!).
R/Griff

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Re: How can anyone afford to rent any more?

Post by Orlando Paulitician » Sat Apr 07, 2018 2:12 pm

fish wrote:
Wed Apr 04, 2018 9:21 am
Thanks for the article link!
Our married daughter lives in an Orlando apartment, they are saving up to buy a house.
I have no idea what young people, first time home buyers, have to do to buy a house these days.

Can recall after the last economic crash, rules were changed to make it harder to buy a house on credit.
So I’m guessing that means a larger down payment.

Those of us that have V.A. loan guarantees are lucky.
Wife and I paid off this house years ago, it’s a POS, but no debt!

Patiently waiting for the next economic crash so I can get the pool resurfaced for reasonable $$$
(last quote to resurface, put in new pumps=$12k)
Quote to put a screen over it= $25k
Quote to replace this tiny house’s paper soffits w/ aluminum=$6k

Me= F.U.!!!!!
It's funny because some kinds of consumer credit, such as credit cards with no collateral backing, are exceedingly easy to get, but other kinds of consumer credit, such as a mortgage collateralized by actual property, seem to be hard to get.

I graduated with my accounting masters $52K in debt in Dec 2016.

With all the credit card offers I was getting, I was able to use the 0% interest-bearing balance transfer offers from providers such as BOA, Chase, Amex, and Discover to arbitrage my 6%+ $52K federal student loans over 18 months into 5.4% $6K federal student loans and $8K of 0% interest credit card debt.

No collateralized assets to speak of if I default, and my available card credit increased by 1000% in the span of a year, from $6K to $60K.

Now let's compare that with when I tried to cosign for my dads home loan application. he has been a customer of the bank for 2 decades, has about $35K in income, and I cosigned for him at $52K income.

If he defaulted on the home loan, I would be on the hook, and the bank could repossess the home.

The loan officer straight out ignored my dads calls after I filled out the paper.

Go figure.
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How can anyone afford to rent any more?

Post by dammitgriff » Sat Apr 07, 2018 2:49 pm

Banks and the government are responsible for the inversion of the risk, and you already know how profits are privatized while the risk and failure is socialized and underwritten by taxpayers.
Government and banks need to be divorced immediately after this next financial crash, which is imminently overdue.
Charles Hugh Smith is on the right track here:
https://www.oftwominds.com/blog.html?fullweb=1
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Re: How can anyone afford to rent any more?

Post by firemedic2000 » Sat Apr 07, 2018 6:33 pm

I tripped when I saw whst rental property was going for on 1 bedroom apts ect...... it's absolutely stupid. He'll my home on the bay with a boat lift was only 800.00 amonth vs over 1k for those apts.
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Re: How can anyone afford to rent any more?

Post by FfNJGTFO » Sat Apr 07, 2018 6:42 pm

firemedic2000 wrote:
Sat Apr 07, 2018 6:33 pm
I tripped when I saw whst rental property was going for on 1 bedroom apts ect...... it's absolutely stupid. He'll my home on the bay with a boat lift was only 800.00 amonth vs over 1k for those apts.
I'm sure you know this already, but rental units are, very much a "supply & demand" kinda thing. People rent when:

1) They can't afford to scrape up a down payment to buy a property;
2) They might not be staying in that location, longer term.

I had to rent for a very long time until I got help from my family in getting the down payment for my first townhouse together. After that, I never looked back. With one exception.... I did rent a house for $700.00/mo on a 1.75 acre property in Fort White, Fl, for 6 months until I could buy my place down in Wesley Chapel (for which I was able to pay cash).

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Re: How can anyone afford to rent any more?

Post by Rentprop1 » Sat Apr 07, 2018 10:16 pm

FfNJGTFO wrote:
Sat Apr 07, 2018 6:42 pm

I'm sure you know this already, but rental units are, very much a "supply & demand" kinda thing. People rent when:

1) They can't afford to scrape up a down payment to buy a property;
2) They might not be staying in that location, longer term.
Those are actually 2 rare exceptions to the rule, there are two types of renter's those in transition to buy a house like they just moved from another area, and those who will never be able to afford a home.

most ( 80% or better ) renters are paycheck-to-paycheck types, and yes while they may not have enough money for the down payment they also lack the pride that comes with home owner ship ( these are the people that Park in their yard, leave their garbage cans on the street for days, don't keep u with the lawn, or keep up the outside of their house etc, etc ).......they used to say that it's smart to rent unless your only gonna be in a place for 3 years or less...but with today's market you're still throwing money away even after 1 year.

Rentprop as in rental properties ....I know what I'm talking about ....lol
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How can anyone afford to rent any more?

Post by dammitgriff » Sat Apr 07, 2018 11:29 pm

Hey Rentprop—
You left out the fact that housing is in yet another bubble (overvalued) and interest rates are rising even as real median household incomes adjusted for inflation have stagnated over the last 25-40 years.
Tell me, how much money does a person have to make per year to be able to afford a Florida home with a median price of over $220,000?
R/Griff

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Re: How can anyone afford to rent any more?

Post by firemedic2000 » Sat Apr 07, 2018 11:39 pm

Rent nailed it on the head. Rent and Mike I would consider are very knowledgeable in this area.

Mike if I remember is a flipper also. Which is what I like. But rent is right. Perfect example there's a duplex next to me. These idiots let their trash can fill up till it was running over. They only had pull it 15 ft to the curb.

But noooo my wife actually pulled it out to the curb. Because we own the properties on both sides of this duplex and we just put the property next to them for sale by owner right now before listing it on the mls (my wife's a broker) for 435k and we did not need F'ing garbage laying in the driveway of the renters next to it.

But we will sell it. Because water front property and basically a new stilt home with a hugh dock setup for a lift. That goes right out into the bay. At the mouth of the Little Manatee River. I built this house myself. I'll never build another stilt house either. Working 3 stories up sucks [smilie=011.gif]

Fortunately they are moving from what I've heard. When the girl lived there by herself she was great. But she got married to a pos junker. That has a F everyone attitude.

But as rent stated home ownership is about personal pride and responsibility. Most people do not have this quality. They either as in the vast majority of cases as stated 1. live check to check. 2. Don't want the responsibility as in mowing grass or maintenance. They'd rather pickup the phone and call someone to fix it.

Now there is a third. Exclusive rental properties. That are very hard to get into and have waiting lists. These are very expensive to live at but they can have every amenity there is. Plus location, location and who's, who living here.

My last year living in Nashville years ago. I got into one of these communities. I was single 26 years old making a ton of money and single women were so easy to pickup because you lived here it was not funny. [smilie=011.gif]

These types of people are mobile people that want amenities in a great area. They can't buy and be tied down to a specific area because of their work. Being transferred acrossed the country from one year the the next or every few years

That's a tough life to live. I did it early in my life. Moving every year or two is a pita plus your never in any place long enough to make good friends or have relationships.
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