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SVTPerformance's Chain of Restaurants
Road Side Pub
Pay off the car or put a dent in student loan?
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<blockquote data-quote="Fat Boss" data-source="post: 16138509" data-attributes="member: 122645"><p>My next door neighbor worked Prop 13 to a T. His dad bought a house in 1955 in Palo Alto. He lived there until he died about 5 years ago. My neighbor Jeff moved into the house for two years to establish residency, then moved next to me- taking that old tax liability with him. They paid $1.5M for their house and pay $1500 / YR in property tax! I'm going to try and do the same thing with my folks' house that they bought in 1982 someday. I'm just not sure I'll be able to buy out both brothers of their 1/3 of what is now a $2.5M house WITH A SHOP IN THE BACKYARD!</p><p></p><p>Thanks, it was competitive but most people in Silicon Valley don't want: an unpermited guest house on the property, a well, and a septic tank. Plus the 2 acres is on a fairly steep slope so no real flat ground. If it were flat, it'd be worth about $300k more and out of my price range.</p><p></p><p>Someday I'll either go to my folks' place, or buy a place with a shop. For now, I'm satisfied with rental income, 75 oak trees, only one next door neighbor, mountain lions, bobcats, rattlesnakes... ok F the rattlers. LOL.</p></blockquote><p></p>
[QUOTE="Fat Boss, post: 16138509, member: 122645"] My next door neighbor worked Prop 13 to a T. His dad bought a house in 1955 in Palo Alto. He lived there until he died about 5 years ago. My neighbor Jeff moved into the house for two years to establish residency, then moved next to me- taking that old tax liability with him. They paid $1.5M for their house and pay $1500 / YR in property tax! I'm going to try and do the same thing with my folks' house that they bought in 1982 someday. I'm just not sure I'll be able to buy out both brothers of their 1/3 of what is now a $2.5M house WITH A SHOP IN THE BACKYARD! Thanks, it was competitive but most people in Silicon Valley don't want: an unpermited guest house on the property, a well, and a septic tank. Plus the 2 acres is on a fairly steep slope so no real flat ground. If it were flat, it'd be worth about $300k more and out of my price range. Someday I'll either go to my folks' place, or buy a place with a shop. For now, I'm satisfied with rental income, 75 oak trees, only one next door neighbor, mountain lions, bobcats, rattlesnakes... ok F the rattlers. LOL. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Pay off the car or put a dent in student loan?
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