Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic -- Ignore unavailable to you. Want to Upgrade?

To: Sonki who wrote (20646)	8/23/1998 5:39:00 PM
From: billwot	Respond to of 27012

Sonki-Re: Real Estate The housing market is strong here, but not strong enough to make a lot of mistakes. While prices keep easing up (5-6% per year) builders are coming in from all over the country to cash in, so the supply nearly keeps pace with demand, and competition prevents price gouging.. You can't bring in more land, though, so land prices have escalated faster than home prices. The real shortage is subcontractors and skilled labor. Several of my tenants are contractors and subs relocating here from the Northeast. Based on my limited experience,developing is the best return. My 7 lot subdivision cost me $30,000, including land, filing fees, and the surveyors charge for laying out the subdiv. It has sufficient road frontage, so I did not have to put in roads. I have 4 lots left and just raised the prices from $14900 to 16000. Remember, this is rural NC, not RDU, and surely not California. Anyway, I expect to triple my modest investment over about 18 mos. Building costs run about $45-47/sq. ft., 1 acre lots close to $20000 and modest new homes sell for about $75/sg. ft. Therefore a builder should net about $20-25000 on a typical 1500 sq. ft house. Again, rural NC. Cost and prices about 30% higher in Raleigh. Rental Property: I do my own management and marketing, and almost all of my own maintenance. I do a little better than breakeven (cah flow), but it is only the appreciation that justifies the time and trouble, not the cash flow. I was also doing some management and maintenance for other landlords, but have gotten out of that as I have started building. I am about 45 minutes from Durham. Our daughter works at the Durham Herald-Sun, and lives in Cary, about 20 mins. from Durham. Duke is beautiful campus, and of course, a great school. Remember JT from the thread? He is a Dookie. billwot