I'm thinking about selling my mansion

[Joe]

@Joe You do what you think is best with your limited options.

@Joe Obviously at your age you should not be going into debt. @Joe If you cannot write a cheque for something, you should not be buying it.

@Joe How much do you think a vacation property in the USA will cost you?

@The Prowler, last I checked some decent sized vacation properties in decent areas across the border in Washington State can be had for as little as $35,000 US. For some people, that's one months income or less.

However there is a catch - you can't stay a total of more tha 6 months if your are not a US or dual citizen visa free unless granted permission.

Plus the IRS hits these kinda buyers in the pocketbook with taxes.

So there's a political and financial disincentive not to mention having to deal with US immigration.

Even crossing the border from some vacationers can be a hassle, even if the border guard knows them and they can even be refused entry into the US for not apparent reason at all. So....it's trickey. and I suppose this option isn't as popular as it could be given the restrictions.

However, for something like a weekend getaway, the US does seem affordable and appealing

 

[The Prowler]

@The Prowler, last I checked some decent sized vacation properties in decent areas across the border in Washington State can be had for as little as $35,000 US. For some people, that's one months income or less.

However there is a catch - you can't stay a total of more tha 6 months if your are not a US or dual citizen visa free unless granted permission.

Plus the IRS hits these kinda buyers in the pocketbook with taxes.

So there's a political and financial disincentive not to mention having to deal with US immigration.

Even crossing the border from some vacationers can be a hassle, even if the border guard knows them and they can even be refused entry into the US for not apparent reason at all. So....it's trickey. and I suppose this option isn't as popular as it could be given the restrictions.

However, for something like a weekend getaway, the US does seem affordable and appealing

@Joe Why the fuck would someone in BC want a vacation spot in Washington State? It is too similar.

@Joe How much cash do you have available to put towards vacation property? I might be able to help you out with some way better ideas than you have.

 

[Murdy]

According to Zillow, this is what you could buy for about $1.2 million in Florida:

Please, Log in or Register to view URLs content!

...not bad actually.

And here are some other listings throughout the State which gives you an idea of the prices there:

Please, Log in or Register to view URLs content!

...ya sure get a lot better value for your money there than on most parts of the West Coast of US or Canada.

I’ll never be sold on the weather there. Plus it takes ONE hurricane to change all of that.

 

[Murdy]

And yet @Murdy doesn't appear to have to move or doesn't seem to wanna

In her case she may as well stay put if her house has been in the family for generations and it's all paid off & there are no liens on it.

Why would she bother? There's no incentive for her to do so.

In her case, she has nothing to gain & perhaps wishes to pass it down to her children.

I would be a fool to sell in this neighborhood. A very rich fool, but a fool nonetheless…. real estate here is hands down the best investment you can makes. Besides, where would I go and why? Nothing is appealing…. The neighborhood I was planning on buying in Seattle has already boomed and is outrageously expensive. No thanks. Timing is everything with these things and investing has to make sense for the investor.

My fiancé says once we finish this house, he is doubtful he’ll ever get me to leave. He is probably right…

 

[Joe]

@Joe Why the fuck would someone in BC want a vacation spot in Washington State? It is too similar.

@Joe How much cash do you have available to put towards vacation property? I might be able to help you out with some way better ideas than you have.

Well @The Prowler I've read that vacation properties are in high demand where you live, and likely quite pricey eh?

This is probably due to the much larger population and demand in Ontario vs BC and the West. I think the the whole populatione of the entire Western Canada is less than that of Ontario, isn't it? So while the geographical area of Western Canada is larger than Ontario, the population density of the latter is considerably higher, hence the demand for among other things, recreational real estate.

So...I'd wager that many recreational properties are more expensive in Ontario than most Western Canada, with the exception of Whistler or parts of Vancouver Island. Correct, n'est pas?

 

[The Prowler]

I would be a fool to sell in this neighborhood. A very rich fool, but a fool nonetheless…. real estate here is hands down the best investment you can makes. Besides, where would I go and why? Nothing is appealing…. The neighborhood I was planning on buying in Seattle has already boomed and is outrageously expensive. No thanks. Timing is everything with these things and investing has to make sense for the investor.

My fiancé says once we finish this house, he is doubtful he’ll ever get me to leave. He is probably right…

What is your house like?

I gather from Joo's comments that you are on a small lot, and that it needs a lot of repairs.

 

[The Prowler]

@Joe Why the fuck would someone in BC want a vacation spot in Washington State? It is too similar.

@Joe How much cash do you have available to put towards vacation property? I might be able to help you out with some way better ideas than you have.

@Joe Did you miss these questions?

 

[Murdy]

For some perspective here…

My house/lot is probably 1/3 the size of Big’s. I am paying my housekeeper $250 every week to clean and she doesn’t even do laundry or clean-up after us.

I’m paying my gardener $120 every 2 weeks to keep things tidy. He isn’t even landscaping. I paid $6,500 to deal with trees on my property this year… and I’m not even done.

If he is selling, he has been there long enough to create a lackluster issue. The appliances are no longer “new” and the paint will need to be touched up. The entire place will need to be cleaned and staged. My rough estimate just to get it ready to sell is $40k+.

 

[The Prowler]

My house/lot is probably 1/3 the size of Big’s.

So how big is that? How many bedrooms? How many square feet? How many cars fit in your garage?

 

[Joe]

@Joe Did you miss these questions?

Well @The Prowler one reason that a vacation property in Washington State might be appealing is it's close to Vancouver. closer than the BC Interior. Even closer than a drive to the ski hills in Whistler

So it has its advantages. But there's also the border.

If I were planning to purchase a vacation property I would try to keep the cost down simply because it is a bit of risk given the political uncertainty and border situation. As you are probably aware the pandemic closed the US Canada border and thousands who own homes down in the US were stranded on the Canadian side of the border, not able to access their vacation homes. It's only after they opened the border that these homeowners could see their properties again. And these were normal law abiding citizens who didn't do anything nor break any laws either. But they couldn't go back even so much to see their homes even tho the homes might have been a few yards from the border.

 

[Biggie Smiles]

So how big is that? How many bedrooms? How many square feet? How many cars fit in your garage?

She's getting ripped off

lmao

 

[Seamajor]

Yes folks, that 7 bedroom, 2 office beautiful palace on 2 acres of wonderful greenery that has the 15 car driveway, Olympic size pool and 8 person whirlpool spa in the backyard

Current estimates are close to 1.2 million and I bought the thing for 425,000 just three short years ago

I mean -- hell -- with a profit like that I'd be willing to rent for a few years until after the looming recession then buy again

of course, you know me, I'd rent something luxurious of course

Love to see some photos.

 

[Murdy]

A vacation home that is located anywhere where people actually want to visit is going to be costly and require $$$$. The ideal goal would be to rent the property and block out dates for yourself and your family so you can benefit from the owner cleaning free services.

The Air BNB bubble has already burst and people are charging more with cleaning costs etc. than it would be to stay at an all inclusive resort. It’s insane.

But a rental property in Washington state? At this point I would only buy there if I was a resident… or a snowbird with another house in the desert to run to for winter when I’m older.

Personally, I love Seattle and wanted to live there longterm. I was lucky in that I came home before my father got sick and passed. Now I’m dealing with all of that….

My fiancé wants our next property to be in Mammoth. I feel it’s too far a drive if something goes wrong at the house, so we are torn. But the Big Bear cabin does well. So does the house in Palm Springs. But it’s expensive to start… we keep insurance since they are both listed as rentals and people break shit all the time.

 

[Seamajor]

Yes folks, that 7 bedroom, 2 office beautiful palace on 2 acres of wonderful greenery that has the 15 car driveway, Olympic size pool and 8 person whirlpool spa in the backyard

Current estimates are close to 1.2 million and I bought the thing for 425,000 just three short years ago

I mean -- hell -- with a profit like that I'd be willing to rent for a few years until after the looming recession then buy again

of course, you know me, I'd rent something luxurious of course

Sounds great. I developed my property for $125,000. Spoke to my realtor friend, he said wait until next November. Pushing 2 million. I’ve had other successes in this same neighborhood. Being close to a famous beach helps.

 

[Murdy]

Sounds great. I developed my property for $125,000. Spoke to my realtor friend, he said wait until next November. Pushing 2 million. I’ve had other successes in this same neighborhood. Being close to a famous beach helps.

This bubble is scary. I’m thinking this is why he wants to sell because on paper it looks good. Plus where do you go when you sell? The interest rates are absurd.

But if he made money…. in 5 years he will have made more. Unless there is a hardship. I’m not sure why else he would at this point.

 

[Seamajor]

I would invest a dime in Florida. Most residential structures are framed in wood. Magnets for hurricanes. Many are uninsured or under insured. Same old story

 

[Murdy]

I wouldn’t invest a dime in Florida. Most residential structures are framed in wood. Magnets for hurricanes. Many are uninsured or under insured. Same old story

Would you agree that he got in before the bubble and should stay?

I’m looking at interest rates right now and they are double from when I bought my first house. Yowza.

 

[Dove]

I think Biggie is by far more intelligent and competent financially than at least 80 percent of this board.

Sometimes a man just wants to buy the big house and enjoy it for a few years before getting a profit and moving into something smaller and more practical.

He definately isn't going to make some retarded and impulsive decision with his money and since I genuinely listen to him when he is talking, he already knew he wasn't going to live there forever. He already knows I fully support him selling it and getting something smaller and easier to maintain. Big works hard. And he works even harder now taking care of his house and property.

All he has done is make more money on it. So he benefits either way. I don't think him waiting it out another 5 years and spreading himself thin caring for a large property JUST so he makes some more money would be worth it for him. But then I don't view money and material things as valuable above peace and happiness and enjoying life.

I know Biggie is very intelligent and capable of managing his business and his money and whatever decision he makes here he will have put A LOT of thought into it and it will be the one that is best for him.

 

[Biggie Smiles]

I think Biggie is by far more intelligent and competent financially than at least 80 percent of this board.

Sometimes a man just wants to buy the big house and enjoy it for a few years before getting a profit and moving into something smaller and more practical.

He definately isn't going to make some retarded and impulsive decision with his money and since I genuinely listen to him when he is talking, he already knew he wasn't going to live there forever. He already knows I fully support him selling it and getting something smaller and easier to maintain. Big works hard. And he works even harder now taking care of his house and property.

All he has done is make more money on it. So he benefits either way. I don't think him waiting it out another 5 years and spreading himself thin caring for a large property JUST so he makes some more money would be worth it for him. But then I don't view money and material things as valuable above peace and happiness and enjoying life.

The economy runs in cycles. Up and down. We're headed for a massive downturn and the prospect of pocketing nearly 1 million in cash is quite appealing to me. Especially since I did nothing but enjoy living here to get it.

I mean, sure I built the 24 by 24 deck where my 8 person spa sits enclosed in an all Cedar Gazebo and a few other more minor enhancements but that was actually fun for me. That's basically a 330.00 a year in profit to actually a) save on NY state tax, b) enjoy a beautiful 2 acre property with olympic size swimming pool and c) live in one of the best run states in the country - I'd hardly call that earning my money at all

And since I have no real ties to Florida I can technically move to another up and coming area with low or no state tax and rent until the bubble bursts and both interest rates and property values come back down. Then pump half of that million into something of similar size and luxury. Eyes are on Tennessee ATM

My career choice affords me this type of luxury in living choices as I am not bound to any one geographic location as everything I do is internet based. As long as I have an internet connection I'm good to go for work

When I bought my first condo interest rates were 7 and a quarter so this isn't exactly my first rodeo when it comes to buying and selling property I've lived in

 

[Seamajor]

I’ve developed 4 properties. The first in Marin, second in SF, the last 2 we’re down here. Never used a bank of finance co.

 

[Seamajor]

The economy runs in cycles. Up and down. We're headed for a massive downturn and the prospect of pocketing nearly 1 million in cash is quite appealing to me. Especially since I did nothing but enjoy living here to get it.

I mean, sure I built the 24 by 24 deck where my 8 person spa sits enclosed in an all Cedar Gazebo and a few other more minor enhancements but that was actually fun for me. That's basically a 330.00 a year in profit to actually a) save on NY state tax, b) enjoy a beautiful 2 acre property with olympic size swimming pool and c) live in one of the best run states in the country - I'd hardly call that earning my money at all

And since I have no real ties to Florida I can technically move to another up and coming area with low or no state tax and rent until the bubble bursts and both interest rates and property values come back down. Then pump half of that million into something of similar size and luxury. Eyes are on Tennessee ATM

My career choice affords me this type of luxury in living choices as I am not bound to any one geographic location as everything I do is internet based. As long as I have an internet connection I'm good to go for work

When I bought my first condo interest rates were 7 and a quarter so this isn't exactly my first rodeo when it comes to buying and selling property I've lived in

Love to see some photos

 

[Joe]

A vacation home that is located anywhere where people actually want to visit is going to be costly and require $$$$. The ideal goal would be to rent the property and block out dates for yourself and your family so you can benefit from the owner cleaning free services.

The Air BNB bubble has already burst and people are charging more with cleaning costs etc. than it would be to stay at an all inclusive resort. It’s insane.

But a rental property in Washington state? At this point I would only buy there if I was a resident… or a snowbird with another house in the desert to run to for winter when I’m older.

Personally, I love Seattle and wanted to live there longterm. I was lucky in that I came home before my father got sick and passed. Now I’m dealing with all of that….

My fiancé wants our next property to be in Mammoth. I feel it’s too far a drive if something goes wrong at the house, so we are torn. But the Big Bear cabin does well. So does the house in Palm Springs. But it’s expensive to start… we keep insurance since they are both listed as rentals and people break shit all the time.

Is Washington state a desirable or popular destination for Californians @Murdy ?

Are many people in your state interested in buying property there?

 

[The Prowler]

She's getting ripped off

lmao

I think it is weird that when I asked @Murdy how big her house is she completely avoided answering.

Why talk about a house to people, but not let them know how big it is?

 

[The Prowler]

My fiancé wants our next property to be in Mammoth.

Something tells me you two will fit right in.

 

[The Prowler]

The interest rates are absurd.

What does that have to do with anything?

People say such bizarre shit here.

 

[The Prowler]

I’m looking at interest rates right now and they are double from when I bought my first house. Yowza.

Why is that your concern, though?

If they buy has to take a high interest rate mortgage, that is their concern, not yours.

 

[The Prowler]

I think Biggie is by far more intelligent and competent financially than at least 80 percent of this board.

At least.

Sometimes a man just wants to buy the big house and enjoy it for a few years before getting a profit and moving into something smaller and more practical.

He certainly timed it well. Anyone downsizing with these inflated prices should do well.

He definately isn't going to make some retarded and impulsive decision with his money and since I genuinely listen to him when he is talking, he already knew he wasn't going to live there forever. He already knows I fully support him selling it and getting something smaller and easier to maintain. Big works hard. And he works even harder now taking care of his house and property.

It would be an experience to live in a big house like that. Something most people will never fully understand, as most people never do it.

But then I don't view money and material things as valuable above peace and happiness and enjoying life.

I pick up with a lot of people here that every major thing they seem to do is about money. Money money money. It must be exhausting.

Very little of what makes me happy has to do with making money. And most of my leisure activities do not cost much money at all.

I know money is a tool to attain some things that can bring pleasure, but some people here seem obsessed.

 

[The Prowler]

Eyes are on Tennessee ATM

I love the Great Smoky Mountains.

 

[Joe]

The economy runs in cycles. Up and down. We're headed for a massive downturn and the prospect of pocketing nearly 1 million in cash is quite appealing to me. Especially since I did nothing but enjoy living here to get it.

So do you think we are def headed for a massive recession Bigly?

Is that what your metrics or programs tell you?

Have you measured this digitialy?

As you're aware there are a lotta programs/software which do that.

So I thought you might have used some economic forecasting tools, etc.

Have you?

 

[The Prowler]

I’ve developed 4 properties. The first in Marin, second in SF, the last 2 we’re down here. Never used a bank of finance co.

You are the guy who was bragging about having $80K worth of copper, right? Copper that was not even processed/recovered yet.

And you choose to live in a 3rd world country.

Very curious....