17.8 degrees this morning when I walked the dog

[RayinPenn]

17.8 degrees this morning when I walked the dog. It hasn't been a particularly cold winter but I absolutely hate the cold. I am 57 and ready to retire but my son is only 12. I have been thinking with the real estate market as bad as it is maybe now is the time to buy. Then rent the unit I can move in. I don't have to make money on the unit just offset some of the carrying cost. Any thoughts?

[RichieB]

Yeah, tell me about it, Ray.

About the same here in NY.

BRRRRR !!!! :grumpy:

[ceejay]

I hate to break this to you RayinPenn, but the "real feel" temperature here is 18 degrees. :cold:

When I saw your post, I thought you were talking about down here in TV.

It is now about 33 but with the wind chill, that brings it to the 18.

We have had an absolutely beautiful winter...this is the first or second really cold day and I guess it's going to continue for a little while.

Good luck in your quest for retirement. I know that other's on here will give you the advice that you really need.

Signed,

The Weather Girl and Killjoy
CJ

[RayinPenn]

Yes but it supposed to be 78 in lady lake by Friday.

[njbchbum]

ray - my attitude is that it is never too soon to get out of the cold!!! of course that meant doing a double take this morning when i went to retrieve my newspaper from the driveway and saw my breath before my eyes! had to make sure that i was in florida! and i know that this afternoon will bring the 50s and warm sunshine. it might be a brief, unusual cold snap - but there won't be any snow to shovel!

[cappyjon431]

Mornings like this I wish I was still in Panama! BBBRRRRR!

[rubicon]

Every day is a blessing

[graciegirl]

Every day is a blessing


You are right Rubicon. Great post!!

I think you can wait to buy Ray. You can rent until your son in old enough to be here or out of the house. That is the way I look at it.

There will always be houses to buy. I wouldn't want to worry about renting a house out and maintaining it off site. Some do fine with it.

[gmcneill]

17.8 degrees this morning when I walked the dog. It hasn't been a particularly cold winter but I absolutely hate the cold. I am 57 and ready to retire but my son is only 12. I have been thinking with the real estate market as bad as it is maybe now is the time to buy. Then rent the unit I can move in. I don't have to make money on the unit just offset some of the carrying cost. Any thoughts?

Ray:

You asked for thoughts; these are mine...
If you can swing it financially, and if you are comfortable in and can commit to the role of landlord, then I say proceed.

Reasons in favor:

As a TOTV member since 2010, you already know that you have a wralth of resources and references within these forums.

The market here, while stronger than the rest of the country, is generally a
buyer's market. Once build out is reached in 4-5 years, coupled with a greater demand from retiring boomers, logic dictates
that TV market will shift towards sellers.

Mortgage loan rates are at/near historical lows.

Once you own in TV, even if you don't become a frog for awhile, establishes a tangible connection for you to your future. That connection brings a certain hopeful, peaceful calm to get you through the pressures of parenthood and working life.

I am 57; from PA- live in SoFla; and not quite retired. I have a TV home but do not rent it out bc I can't commit to landlord lifestyle. Besides, I want my home available for w/end escapes.

Best of luck with your decision!

[RichieB]

I just came in from the 18 deg cold, and it's really not that bad, since there's little to no wind here.

But at my age, I STILL HATE IT !!

[RayinPenn]

once build out is reached in 4-5 years, coupled with a greater demand from retiring boomers, logic dictates
that TV market will shift towards sellers.
I already own and rent a condo so I know the landlord thing pretty well. I expect with older established rentors (in the tv)I wouldn't experience all the nonsense I've had to deal with. As I sit here my tenant owes 2 months rent and is waiting their tax return to catch up. Plus I'd use a management company to handle things.
I guess a couple of vists are in order.

[RichieB]

As I sit here my tenant owes 2 months rent and is waiting their tax return to catch up.

Sometimes, when certain people get behind like that, it's awfully hard to catch up.

I would agree with you, Ray, that some visits might be in order.

Since I've been retired, and can devote more time to it, I fine tune things so that they don't hold on to a wad of my money. My refund this year will be 4 bucks.

My wife wants a BIG refund each year, and each year I have to convince her why she doesn't :icon_wink:

[gmcneill]

Ray: now you're thinking...I'd be surprised if you haven't already logged on to the villages website to check on properties ;)

Ritchie: Congrats on a near perfect return!

[natickdan]

17.8 degrees this morning when I walked the dog. It hasn't been a particularly cold winter but I absolutely hate the cold. I am 57 and ready to retire but my son is only 12. I have been thinking with the real estate market as bad as it is maybe now is the time to buy. Then rent the unit I can move in. I don't have to make money on the unit just offset some of the carrying cost. Any thoughts?

That's still 17 X's warmer than it was back in MA this morning ;)

[JeffAVEWS]

I live in TV full time but my brother did what you are suggesting, He bought and rents it out. He never has a problem with finding renters, He has many returns and has had to turn people away. I think he covers his costs for the year with just the seasonal rent.
He also has the added advantage of a cheap handyman to fix minor problems!


:a040:

[RichieB]

Ritchie: Congrats on a near perfect return!

I'm usually not that close, because there's usually some "surprise" that comes along that I didn't anticipate. I try to get within the $100 either way that they profess to like. I actually don't mind owing them a VERY SMALL amount. That way, the can't delay payment of any amount due. :icon_wink:

[RayinPenn]

I should add that we already are part owners in a 2 bedroom villa in a closed community in Sarasota. It's close to siesta key and we have been going there for years for vacation. It's not big enough for us but I can buy a three bedroom there for about $230k.