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RiverOtter
12-14-2004, 04:28 PM
Long story short I own a lake / river lot in the hottest area of town. Since I bought it 2.5 years ago the neighborhood has taken off like crazy. I can now MORE THAN DOUBLE my investment. Origionally MrsRiverOtter and I were gonna build on it and live happily ever after. Now we're thinking the money would be nice to 1031 into other real estate investments. Plus the cost of construction went from $115/ft to 160+/ft. We were planning on a big house but don't want to be house poor. Any thoughts? Anybody? Beuler? Beuler?

voodoomedman
12-14-2004, 04:34 PM
Long story short I own a lake / river lot in the hottest area of town. Since I bought it 2.5 years ago the neighborhood has taken off like crazy. I can now MORE THAN DOUBLE my investment. Origionally MrsRiverOtter and I were gonna build on it and live happily ever after. Now we're thinking the money would be nice to 1031 into other real estate investments. Plus the cost of construction went from $115/ft to 160+/ft. We were planning on a big house but don't want to be house poor. Any thoughts? Anybody? Beuler? Beuler?
First and foremost I would say to think about where you really want to live for primary purposes. Yes of course being house poor is not a good thing so weigh that heavily. Aside from that... your primary house is where you are at all the time and you need to make sure that you and your wife are happy. Happiness is first, Money is second. We have investments and we just bought our vacation house in Havasu but if it meant that we were trapped with the cost then we wouldn't have done it. Although we bought our house new we need something bigger and with a bigger yard as our family is about to start growing. This was a big decision factor. If I couldn't afford to upgrade my house here then there would be no house there. But heck if your not set on living on the lake then make yourself some money so you can really retire when it is time, not just live on social security and be a prisoner of your home and the senior special at denny's.

throwerb
12-14-2004, 05:34 PM
Long story short I own a lake / river lot in the hottest area of town. Since I bought it 2.5 years ago the neighborhood has taken off like crazy. I can now MORE THAN DOUBLE my investment. Origionally MrsRiverOtter and I were gonna build on it and live happily ever after. Now we're thinking the money would be nice to 1031 into other real estate investments. Plus the cost of construction went from $115/ft to 160+/ft. We were planning on a big house but don't want to be house poor. Any thoughts? Anybody? Beuler? Beuler?
Sell it all, move your family in with mine and let's get that new E-ticket with the his and HERS windshields :idea: ;) And that senior plate at denny's has always looked good to me. :D

NashvilleBound
12-14-2004, 05:37 PM
Long story short I own a lake / river lot in the hottest area of town. Since I bought it 2.5 years ago the neighborhood has taken off like crazy. I can now MORE THAN DOUBLE my investment. Origionally MrsRiverOtter and I were gonna build on it and live happily ever after. Now we're thinking the money would be nice to 1031 into other real estate investments. Plus the cost of construction went from $115/ft to 160+/ft. We were planning on a big house but don't want to be house poor. Any thoughts? Anybody? Beuler? Beuler?
You should be able to build on it for about $65-90sf. Its easy. If you want to sell the lot let me know and I'll run down and take a peek...besides getting me outta here....

throwerb
12-14-2004, 05:46 PM
You should be able to build on it for about $65-90sf. Its easy. If you want to sell the lot let me know and I'll run down and take a peek...besides getting me outta here....
Can I go with you.

NashvilleBound
12-14-2004, 05:47 PM
I'll wait....could be our first project. We do need to find something to keep YOU outta trouble.....

Phat Matt
12-14-2004, 05:52 PM
Long story short I own a lake / river lot in the hottest area of town. Since I bought it 2.5 years ago the neighborhood has taken off like crazy. I can now MORE THAN DOUBLE my investment. Origionally MrsRiverOtter and I were gonna build on it and live happily ever after. Now we're thinking the money would be nice to 1031 into other real estate investments. Plus the cost of construction went from $115/ft to 160+/ft. We were planning on a big house but don't want to be house poor. Any thoughts? Anybody? Beuler? Beuler?
If you think you would make money on just the lot, what do you think it would be worth with a nice house on it? Remember, new houses can be built anywhere, but their are only a finite number of lots.

RiverOtter
12-14-2004, 05:54 PM
Sell it all, move your family in with mine and let's get that new E-ticket with the his and HERS windshields :idea: ;) And that senior plate at denny's has always looked good to me. :D
LMAO!! I have thought of selling it ALL!

RiverOtter
12-14-2004, 05:55 PM
You should be able to build on it for about $65-90sf. Its easy. If you want to sell the lot let me know and I'll run down and take a peek...besides getting me outta here....
$65 - $90????? Who the heck charges that? :idea:

RiverOtter
12-14-2004, 05:57 PM
If you think you would make money on just the lot, what do you think it would be worth with a nice house on it? Remember, new houses can be built anywhere, but their are only a finite number of lots.
Good point. I have thought of starting a house and see if it sells before I finish. Most likely would in this particular neighborhood.

NashvilleBound
12-14-2004, 06:08 PM
$65 - $90????? Who the heck charges that? :idea:
Me. Well, I dont charge that...thats what it costs me. A typical home costs me about $65sf. When you get into the $400k+ it runs about $90(granite/solid surfaces) Are you beating around the bush here?? You know my numbers on my upcoming projects...you know I am in that field. Come on Otterboy

RiverOtter
12-14-2004, 06:11 PM
Me. Well, I dont charge that...thats what it costs me. A typical home costs me about $65sf. When you get into the $400k+ it runs about $90(granite/solid surfaces) Are you beating around the bush here?? You know my numbers on my upcoming projects...you know I am in that field. Come on Otterboy
I thought you were just in the field part of the field :D If I could build it for that I might, jusy might not sell it.

NashvilleBound
12-14-2004, 06:48 PM
Keep in mind that if you own a lot in a community and it gets built out, after a few years your lot will start loosing value. The homes will be aging and you want to sell this lot for a new home to be built in a community that is now 5? 10? years old... get the picture? I have 9 homes underconstruction now plus that development your helping me get started....if your going to make good money on the lot sell it. The second reason for divorce in the US is building a home together..... if you want to talk about your options...you've got my numbers...but its going to cost you lunch tho...AND NO OTTER FOOD :D Good stuff :jawdrop:

RiverOtter
12-14-2004, 06:55 PM
Keep in mind that if you own a lot in a community and it gets built out, after a few years your lot will start loosing value. The homes will be aging and you want to sell this lot for a new home to be built in a community that is now 5? 10? years old... get the picture? I have 9 homes underconstruction now plus that development your helping me get started....if your going to make good money on the lot sell it. The second reason for divorce in the US is building a home together..... if you want to talk about your options...you've got my numbers...but its going to cost you lunch tho...AND NO OTTER FOOD :D Good stuff :jawdrop:
You're on. We'll talk. And yes, the good stuff Ryan's :D Just kiddin!

NashvilleBound
12-14-2004, 06:57 PM
You're on. We'll talk. And yes, the good stuff Ryan's :D Just kiddin!
I went to Ryan's here in the Boro...I liked it. Killer deserts. This is bad....I am turning into a TN'n. :2purples:

RiverOtter
12-14-2004, 07:02 PM
I went to Ryan's here in the Boro...I liked it. Killer deserts. This is bad....I am turning into a TN'n. :2purples:
Oh crap. If yer dinin at Ryan's you'll be shopin at Walmart next :D

NashvilleBound
12-15-2004, 05:23 AM
Oh crap. If yer dinin at Ryan's you'll be shopin at Walmart next :D
:supp: :supp: :supp: :supp: :supp: :supp: Ahhhh helll.................I'm doomed.

RiverOtter
12-15-2004, 05:27 AM
:supp: :supp: :supp: :supp: :supp: :supp: Ahhhh helll.................I'm doomed.
Then you'll have a shotgun rack in your truck window, But it will be hard to see from the outside becaues of the Rebel Flag you'll have in the back window.

NashvilleBound
12-15-2004, 05:34 AM
Then you'll have a shotgun rack in your truck window, But it will be hard to see from the outside becaues of the Rebel Flag you'll have in the back window.
LMAO...the visual is killing me.

RiverOtter
12-15-2004, 05:36 AM
LMAO...the visual is killing me.
Oh course by now you'll be towing a 30' toon with a used 50 horse Johnson trying to pull your kids and their friends on skiis. Not that this happens in the South.

throwerb
12-15-2004, 07:43 AM
Oh course by now you'll be towing a 30' toon with a used 50 horse Johnson trying to pull your kids and their friends on skiis. Not that this happens in the South.
I want to be pulled first. :D

RiverOtter
12-15-2004, 08:07 AM
I want to be pulled first. :D
Hope ya been working out.

NashvilleBound
12-15-2004, 11:28 AM
I want to be pulled first. :D
Few slip knots around your wrists...good to go. I getta drive!

throwerb
12-15-2004, 01:56 PM
Hope ya been working out.
I hope the boats been working out ;) :D

RiverOtter
12-15-2004, 02:01 PM
I hope the boats been working out ;) :D
LMAO

throwerb
12-15-2004, 05:01 PM
LMAO
You'de be laughing alright.