Ding Ding Ding... we have a winner

[The Tim]

[Lake Hills Renter]

[rose-colored-coolaid]

[mike2]

That looks like a manic depressive going off the meds...

[The Tim]

What amuses me is how many of you apparently bookmarked Meshugy's house in Zillow (like I did). We haven't linked to it anywhere in this thread, and yet it seems that most of us are looking at it anyway, as evidenced by posts like Mike2 with the screenshot above. I guess that's what the guy gets for coming on here so frequently to brag whenever his Zestimate would bump up by a few thousand.

[perfectfire]

You should put his Zestimate in the SB sidebar under the inventory numbers.

[faster]

[WestSideBilly]

[Ubersalad]

At that kind of margin and loss of rent in between tenants...what's the point?

[rose-colored-coolaid]

Strictly speaking, his comparison wasn't saying buy and rent it out, but comparing if you yourself bought or rented the same unit. Thanks for the analysis, it looks pretty good to me.

So in other words, when 'experts' say it's good to buy if you will be there at least 5 years, what they mean is if the market doesn't decline you might almost come out even in 5 years.

[WestSideBilly]

In the example I used (which worked good because there were identical units available to buy and rent at the same time), I was strictly comparing the financial aspects for a home buyer/renter. As an investor looking for a rental, there is no point - it's a horrible use of capital.

RCC, using pre-2001 norms, you would generally come out ahead after 5-7 years. And have the benefit of being free to use the property as you chose, which has a different value to different people (much more for smokers or pet owners, much less for people who like off-white walls and carpet). Buying today, I think that number might be more like 10-15 years.

[The Tim]

[perfectfire]

BTW, if anybody else is like me and doesn't have the shugster's house bookmarked, you can find the location (as stated by meshugy himself) in the .

[deejayoh]

this thread kind of defines "schadenfruede"

[The Tim]