Real estate thread

So I've found out what I feared is probably true..it looks like an ultrarich 'investor' is quietly buying up every home in my neighborhood one-by-one. He gives them to his kids who also have unlimited funds to 'fix them up.'

I put 'fix them up' in quotes because it's obvious the kids have no idea what they're doing. The guy is paying premium to get them then they charge nosebleed rents that I honestly wouldn't think possible even in a nice neighborhood.
 

Thomas More

Hummingbird
So I've found out what I feared is probably true..it looks like an ultrarich 'investor' is quietly buying up every home in my neighborhood one-by-one. He gives them to his kids who also have unlimited funds to 'fix them up.'

I put 'fix them up' in quotes because it's obvious the kids have no idea what they're doing. The guy is paying premium to get them then they charge nosebleed rents that I honestly wouldn't think possible even in a nice neighborhood.
Won't this also raise the value of your house? What downside are you concerned about?
 

Jaydublin

Pelican
WV is a great place but it can get a little boring, especially in winter. Also you have the drug issue. Not only do you have to worry about theft from the addicts but you will have to worry about your kids getting involved. Not sure what the schools are like now but in the mid-late 2000s pills were all over the schools. A lot of the friends I had were good kids, often from decent families and just trying to have fun. They didn't realize snorting a few pills would turn into a lifelong heroine addiction. Quite a few have since passed, others are constantly relapsing. These addicts are everywhere in WV, many are functioning addicts and go from living a normal life to suddenly relapsing and stealing all your stuff.

I wouldn't get to convinced that they are some great conservative bunch, closer to just being a bunch of hillbillies that want to be left alone while also living off the government.

Having said all of that, I still wouldn't mind moving back, sucks that there aren't many jobs but you can get land for 800-2000 an acre, on decent size tracts.

Living on or near the Ohio river is nice. Plenty of nice deer and fishing. Few other large rivers to enjoy as well, but a lack of lakes.

I do wonder if a day comes when folks from cities come into WV and buy up all the land. It's wild to see a nice 200 acre tract for 250k while a 400sqft apartment in NYC goes for 3x that. Could see it being like what has happened out west in the 15 years with the Californians.

Eastern Kentucky is also interesting. Similar pros and cons.
 
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nordle

Pigeon
I'm now under contract, I am only putting 5% down with an owner-occupant loan, plus I get 3% commission because I have a real estate license. The commission feeds directly into the down payment, and I won't owe Uncle Sam a nickel in taxes until the day I sell. So, I'm only putting $11k down in order to acquire a $550k home. I'll have closing costs, have to pay the inspector, appraisal, prepay insurance, etc. But, that still seems like a steal to me.
I'm young enough that I don't mind renting out one side to someone in order to cover 50%+ of the mortgage.

My area is appreciating heavily because it's in a nice mountain town where remote workers are moving and there is no graffiti or homeless invasion. It has a cute little downtown area. In 1-2 years, I should be able to get rid of PMI, rent the whole thing out for ~$400/month more than my mortgage, and jump into the next property. I can't think of a better way to get established into such a place.
Do you have a fixed rate mortgage for the entire term? Here in Europe those are rare, with most fixed terms being only 1-3 years. Just as housing has doubled in cost in recent years, it could possibly do the reverse. It might get squirrelly if housing takes 45% hit and mortgage rates go up. Imagine being in a negative equity hole for $150k on a property worth only $400k.
 

Sword

Sparrow
Another major problem of places like Arkansas and W Virg. are they are DEEP in population centers. So if riots/chaos gets really bad you have millions of people less than 100-200 miles from you.
 

Dr Mantis Toboggan

Kingfisher
Gold Member
WV is a great place but it can get a little boring, especially in winter.

Driven through WV a ton of times over the years but never really spent any time there prior to last winter, went skiing at Snowshoe. It was a good time but it's really the only game in town as far as skiing goes, not like New England or Colorado where you have tons of resorts near one another.

Another major problem of places like Arkansas and W Virg. are they are DEEP in population centers. So if riots/chaos gets really bad you have millions of people less than 100-200 miles from you.

True, but that's the case pretty much anyplace east of the Mississippi.
 

cosine

Robin
Do you have a fixed rate mortgage for the entire term? Here in Europe those are rare, with most fixed terms being only 1-3 years. Just as housing has doubled in cost in recent years, it could possibly do the reverse. It might get squirrelly if housing takes 45% hit and mortgage rates go up. Imagine being in a negative equity hole for $150k on a property worth only $400k.
30-year fixed rate mortgage at 2.9% interest. As soon as the home closes, the lender begins the process of selling the loan to Fannie Mae which is a government-backed entity. This is arguably socialism for the middle class here in the USA, you just have to actually do something(take on a huge pile of debt) in order to obtain it.

Ritzy ski town above me. COVID WFH policies won't go away, so people will continue moving here, and it's limited housing supply in a valley. Yes, I'm leveraging aggressively, but it seems about as sure as I can be. My other house has around 50% equity with 29 years left on its fixed-rate mortgage.
 

Knight.of.Logos

Woodpecker
Orthodox Catechumen
WV is a great place but it can get a little boring, especially in winter. Also you have the drug issue. Not only do you have to worry about theft from the addicts but you will have to worry about your kids getting involved. Not sure what the schools are like now but in the mid-late 2000s pills were all over the schools. A lot of the friends I had were good kids, often from decent families and just trying to have fun. They didn't realize snorting a few pills would turn into a lifelong heroine addiction. Quite a few have since passed, others are constantly relapsing. These addicts are everywhere in WV, many are functioning addicts and go from living a normal life to suddenly relapsing and stealing all your stuff.

I wouldn't get to convinced that they are some great conservative bunch, closer to just being a bunch of hillbillies that want to be left alone while also living off the government.

Having said all of that, I still wouldn't mind moving back, sucks that there aren't many jobs but you can get land for 800-2000 an acre, on decent size tracts.

Living on or near the Ohio river is nice. Plenty of nice deer and fishing. Few other large rivers to enjoy as well, but a lack of lakes.

I do wonder if a day comes when folks from cities come into WV and buy up all the land. It's wild to see a nice 200 acre tract for 250k while a 400sqft apartment in NYC goes for 3x that. Could see it being like what has happened out west in the 15 years with the Californians.

Eastern Kentucky is also interesting. Similar pros and cons.
I was surprised to see how affordable WV is. I just moved to a cheaper area from the Northeast, but WV is significantly cheaper than here.

How is WV with the stabbies? The people in my area are based about them, but our state has not explicitly banned the vaccine mandates and our governor is gay, so I have a backup plan of moving to one of those states if it comes to that (so far they have not been mandated at my work). I'd love to check out Montana and Idaho, but they are a lot more expensive than I had thought. I am considering AK which has banned them, and I have a few connections in the area, but also considering WV. I'd love to be close to Holy Cross Monastery, I think that would be such a blessing for my spiritual life. I don't mind boring winters, I look at it as a good time to catch up on spiritual reading, prayer, and working out.
 

Jaydublin

Pelican
I was surprised to see how affordable WV is. I just moved to a cheaper area from the Northeast, but WV is significantly cheaper than here.

How is WV with the stabbies? The people in my area are based about them, but our state has not explicitly banned the vaccine mandates and our governor is gay, so I have a backup plan of moving to one of those states if it comes to that (so far they have not been mandated at my work). I'd love to check out Montana and Idaho, but they are a lot more expensive than I had thought. I am considering AK which has banned them, and I have a few connections in the area, but also considering WV. I'd love to be close to Holy Cross Monastery, I think that would be such a blessing for my spiritual life. I don't mind boring winters, I look at it as a good time to catch up on spiritual reading, prayer, and working out.

WV is often cheaper than Latin America or Asia, assuming you compare first world lifestyle to first world lifestyle.

I moved away 15 years ago but I have been back a lot and my family lives there. Its probably similar to the rest of the south when it comes to vaccines but feds are eventually going to crack down on major corporations. I don't expect these state bans to hold up once the feds pull funding. Our hope is this can drag out until there is a political turnover. I don't see restaurants ever enforcing tax mandates in WV.

If you have a decent bit of assets saved or the ability to work online, you can build a really nice getaway in WV. Get on landandfarm.com and look up some of the properties. sites like this will have more land tracts than something like zillow. Eastern KY is another great option. Pikeville isn't bad.
 

Brebelle3

Robin
Orthodox Inquirer
WV is often cheaper than Latin America or Asia, assuming you compare first world lifestyle to first world lifestyle.

I moved away 15 years ago but I have been back a lot and my family lives there. Its probably similar to the rest of the south when it comes to vaccines but feds are eventually going to crack down on major corporations. I don't expect these state bans to hold up once the feds pull funding. Our hope is this can drag out until there is a political turnover. I don't see restaurants ever enforcing tax mandates in WV.

If you have a decent bit of assets saved or the ability to work online, you can build a really nice getaway in WV. Get on landandfarm.com and look up some of the properties. sites like this will have more land tracts than something like zillow. Eastern KY is another great option. Pikeville isn't bad.
Thank you for the info regarding WV.

My father's side is from WV, just outside Pipestem State Park. They own hundreds of acres and according to my father, would be willing to hand off a few acres to me. I even found myself daydreaming that I'd offer small tracts to RVF members and we could build a Christian community.

I have a new son so living in a safe area is very important. We'll be homeschooling him which makes public school quality really unimportant. I'm just concerned with the drugs and theft issues.

Maybe it's time to get back to my roots.
 

NoMoreTO

Ostrich
The destruction of what's left of my community? Plus a generation of young adults unable to start families because their rents take up more than half their income.
Home ownership is also good for a community. You want a permanent group of people who plan to live there, rather than renters passing a few months or years then moving on. That's not a community. Nothing against renters, but they need time to establish in a place. Perhaps rising rents will keep renters in place for longer periods of time.
 

SeaEagle

Sparrow
Home ownership is also good for a community. You want a permanent group of people who plan to live there, rather than renters passing a few months or years then moving on. That's not a community. Nothing against renters, but they need time to establish in a place. Perhaps rising rents will keep renters in place for longer periods of time.
I've lived on the coast in an expensive, liberal city and this is very true. Neighbours didn't know each other aside from the petty annoyances they caused.

This is reflected in the design of new homes where the living room is centred around the TV somewhere in the back of the house away from the street.
 

Thomas More

Hummingbird
Here's a good article on West Virginia from Unz.com. The writer gives a balanced description of the area, praising the quality of the people, and downplaying the poverty and drug problems most journalists lead with.

 

Sword

Sparrow
Any of you familar with Alaska? I have been once and liked it a lot. Given some of my other mountain areas have been utterly overran by hippster and gays it might be my only hope.
 

crabber86

Chicken
Any of you familar with Alaska? I have been once and liked it a lot. Given some of my other mountain areas have been utterly overran by hippster and gays it might be my only hope.
I grew up in Alaska. Ive lived in Fairbanks, Juneau and Dillingham Alaska for years. Juneau is probably the best place if you don't like cold weather and can handle the rain. Fairbanks gets cold in the winter time (used to be 50 plus below when I was a kid but has gotten better) and gets hot and dry in the summertime. Lots of wildfires and smoke and insects like mosquitos.
If your interested in finding a woman don't bother plenty of feminists there and not very attractive. I would recommend taking a woman with you.
Not much to do and a lot of people are addicted to drugs and alcohol. People get something called sad or seasonal affect disorder. If you are in the oil and gas industry or government then you make good money. You can live in dry cabin with no running water in Fairbanks which go for 500 to 700 a month and save alot of money.
Alaska is definitely not for everyone and we got alot of end of the roader types that try to start over thinking that they can do what ever they want. This turned out to not be true for them.
 

Thomas More

Hummingbird
I grew up in Alaska. Ive lived in Fairbanks, Juneau and Dillingham Alaska for years. Juneau is probably the best place if you don't like cold weather and can handle the rain. Fairbanks gets cold in the winter time (used to be 50 plus below when I was a kid but has gotten better) and gets hot and dry in the summertime. Lots of wildfires and smoke and insects like mosquitos.
If your interested in finding a woman don't bother plenty of feminists there and not very attractive. I would recommend taking a woman with you.
Not much to do and a lot of people are addicted to drugs and alcohol. People get something called sad or seasonal affect disorder. If you are in the oil and gas industry or government then you make good money. You can live in dry cabin with no running water in Fairbanks which go for 500 to 700 a month and save alot of money.
Alaska is definitely not for everyone and we got alot of end of the roader types that try to start over thinking that they can do what ever they want. This turned out to not be true for them.
Ya gotta love a dry understatement!


On the original topic, I've been looking at Western Nebraska. This is a sparsely populated area that is very conservative and Christian. The agricultural underpinnings of the economy help keep the culture based. Some towns have 20-30% hispanic populations, but many towns are 90% white. I think some towns got meat packing plants that attracted a lot of hispanics, and others never did.

On the surface, this area appears very boring, which helps protect it against future waves of woke people moving there. However, there are a number of lakes in the region, and the Sand Hills area is very pretty and empty. This area has some of the darkest skies in the country for star gazing. The opportunities for camping and other outdoor recreation are great. Also, this area is fairly close to Denver, Omaha, the Black Hills, and the Rocky Mountains, all within 4-5 hours drive.

Home prices are very modest, but land prices are moderately high, due to the agricultural potential.
 
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Sword

Sparrow
If your interested in finding a woman don't bother plenty of feminists there and not very attractive. I would recommend taking a woman with you.
Not much to do and a lot of people are addicted to drugs and alcohol. People get something called sad or seasonal affect disorder. If you are in the oil and gas industry or government then you make good money. You can live in dry cabin with no running water in Fairbanks which go for 500 to 700 a
I already got a women and kids, want to get out of the degeneracy. I grew up in colorado and it was absolutely a great place...was. The spics, gays and jews have taken over this state.
The opportunities for camping and other outdoor recreation are great. Also, this area is fairly close to Denver, Omaha, the Black Hills, and the Rocky Mountains, all within 4-5 hours drive.

Home prices are very modest, but land prices are moderately high, due to the agricultural potential.
See above. Colorado is so far gone at this point its insane. Denver is like New Sodom. The Rockies are so cool but they are bought up, fenced off, or filled with lib trash these days. That why I am trying to relocate.
 
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