WELCOME TO RIVER DAVES PLACE

Anyone looking for a Duplex in Havasu?

was thatguy

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These units seem to rent right at 1,000-1250.
@LargeOrangeFont ??

With the current times rent it for $200 a night and do pretty good on the summer weekends.
Fucker next door has had ONE vacant night in the last 4 plus weeks. Air BnB. It’s a house with a big pool/ grotto. No real garage.
He’s pulling close to $300 a night...and I haven’t slept in a Damned month it seems...
I will NEVER live next to a BnB again in my life.
 

RiverDiva

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The rent on 1st unit is currently $700/mo and the 2nd is $900/mo
 

LargeOrangeFont

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These units seem to rent right at 1,000-1250.
@LargeOrangeFont ??

With the current times rent it for $200 a night and do pretty good on the summer weekends.
Could probably pull $1000 ish per unit for long term renters.

If it is the right property you could do well as a summer vacation and snowbird rental.
 

outboardrick

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Fucker next door has had ONE vacant night in the last 4 plus weeks. Air BnB. It’s a house with a big pool/ grotto. No real garage.
He’s pulling close to $300 a night...and I haven’t slept in a Damned month it seems...
I will NEVER live next to a BnB again in my life.
I thought there was a city ordinance regulating rentals to a certain number of days out of the month? You're just up the street from me and we have rental zoning in places, maybe you have the same?
 

HB2Havasu

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I thought there was a city ordinance regulating rentals to a certain number of days out of the month? You're just up the street from me and we have rental zoning in places, maybe you have the same?
I would think that would be city wide in Residential areas? Who would know?
 

hawgty55

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Did i miss the garage lengths?

And whats the reason for low rents compared to home prices in havasu?

Ive looked into this before and was shocked at the costs of monthly rental compared to weekend type rental.
 

LargeOrangeFont

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Did i miss the garage lengths?

And whats the reason for low rents compared to home prices in havasu?

Ive looked into this before and was shocked at the costs of monthly rental compared to weekend type rental.
27' garages on this one I believe, so it is a little tight. They are staggered, so one might be deeper than the other?

My friend's duplex is one with 35' garages. It is a killer vacation pad with boat storage, and they have a long term renter on the other side. They rent their side to snowbirds in the winter. This can be a good play, it just depends on how often you go, and what your monthly out of pocket is. I don't want to poo poo this thread, but at $350K unless you put a lot down, this model starts getting harder to justify.

The pricing is supply and demand, but I think the weekend vs monthly pricing difference is fairly typical.

Also realize that the typical vacation home that is $400+K is not what a typical Havasu resident would buy. There are plenty of "normal" homes under $250K in Havasu. There just aren't any new ones being built. That said, rent for a $250K house might be $1200-$1300 month on the high side for a long term renter. I would not be looking to buy a $200K+ house under those conditions if I lived in Havasu.

That same $250K house might rent for up to $1800 a month for snowbirds.
 
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DRYHEAT

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27' garages I believe.

Supply and demand, but I think the weekend vs monthly pricing is fairly typical.

Also realize that the typical vacation home that is $400+K is not what a typical Havasu resident would buy.

There are plenty of "normal" homes under $250K in Havasu. There just aren't any new ones being built. That said, rent for a $250K house might be $1200-$1300 month on the high side for a long term renter. I would not be looking to buy a house under those conditions if I lived in Havasu.

That same $250K house might rent for up to $1800 a month for snowbirds.
Typical Havasu resident noted.:oops:😔😂
 

LargeOrangeFont

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Typical Havasu resident noted.:oops:😔😂
I don't mean that in a mean way, but take away the retirees fleeing CA, the successful business owners, and people buying vacation homes.

That leaves the typical Havasu residents in non specialized jobs, not making a lot of money. These people are not buying lots in the Riviera :)

FWIW my house there is a simple 2/3 with a 30' garage a typical resident might own.
 

2FORCEFULL

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at 1k per side its about break even, till you account for maint/capex, goes negative
there is no way it will go neg,....unless you are using someone else's money to make money...say you have 360k in the bank...at best 2%...maybe pull in 7500....now let say the property goes up just 10%.... there's 36k,... and let say 2k for rent.... that's another 24k...so 60k per yr.... sound about right??????
 

79 HUSTLER

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I don't mean that in a mean way, but take away the retirees fleeing CA, the successful business owners, and people buying vacation homes.

That leaves the typical Havasu residents in non specialized jobs, not making a lot of money. These people are not buying lots in the Riviera :)

FWIW my house there is a simple 2/3 with a 30' garage a typical resident might own.
Man you are just spewing diarrhea from your mouth if you actually believe this.
 

Fenderbender

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there is no way it will go neg,....unless you are using someone else's money to make money...say you have 360k in the bank...at best 2%...maybe pull in 7500....now let say the property goes up just 10%.... there's 36k,... and let say 2k for rent.... that's another 24k...so 60k per yr.... sound about right??????
I wonder if being closer to the top of the price bubble would make the value year over year less. I am looking to get in and your numbers are enticing!
 

LargeOrangeFont

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Man you are just spewing diarrhea from your mouth if you actually believe this.
Yea because all the residents working $20 hour jobs in town are magically making $100K with great credit and have 50K or more in the bank to go buy a house... that must be why there are so few renters in town and so many people buying these new $500K houses!
 
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LargeOrangeFont

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there is no way it will go neg,....unless you are using someone else's money to make money...say you have 360k in the bank...at best 2%...maybe pull in 7500....now let say the property goes up just 10%.... there's 36k,... and let say 2k for rent.... that's another 24k...so 60k per yr.... sound about right??????
That is of course if you had $360K in the bank. If you did there are better markets to get a better return though. You just moved the $360K
from one investment to another in that case.

I agree, you aren't going to look back in 10-20 years and say you lost money.
 

DRYHEAT

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I don't mean that in a mean way, but take away the retirees fleeing CA, the successful business owners, and people buying vacation homes.

That leaves the typical Havasu residents in non specialized jobs, not making a lot of money. These people are not buying lots in the Riviera :)

FWIW my house there is a simple 2/3 with a 30' garage a typical resident might own.
Don’t take my comments so serious I was just messing with you.😂
 

LargeOrangeFont

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Don’t take my comments so serious I was just messing with you.😂
I figured, but I didn't want what I was saying to be taken as a slight towards residents of the town.

Tell that to the Hustler, his butt seems to be hurting that his town is full of haves and have nots. :)
 

2FORCEFULL

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the problem here is gonna be investment property,... pretty sure you have to be owner occupied to get a good interest rate,... wonder if the owner will carry??? then the investment drop,.. as does the return... but it lets you stick your finger in the pie...
 

ChumpChange

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the problem here is gonna be investment property,... pretty sure you have to be owner occupied to get a good interest rate,... wonder if the owner will carry??? then the investment drop,.. as does the return... but it lets you stick your finger in the pie...
Four units or less is residential. Negotiate the lease out and occupy one of the units for a bit. I'll leave it at that.
 

Dalton

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there is no way it will go neg,....unless you are using someone else's money to make money...say you have 360k in the bank...at best 2%...maybe pull in 7500....now let say the property goes up just 10%.... there's 36k,... and let say 2k for rent.... that's another 24k...so 60k per yr.... sound about right??????
Yes, but in general you should still account for Maintenance/Capital Expenses (15%), Property Management (10%), and Vacancy (8%), people with large rental portfolios aren't waiting on appreciation, they make money every month.
 

hallett21

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the problem here is gonna be investment property,... pretty sure you have to be owner occupied to get a good interest rate,... wonder if the owner will carry??? then the investment drop,.. as does the return... but it lets you stick your finger in the pie...
Doesn’t everyone live in their rentals


Sent from my iPhone using Tapatalk
 

RiverDiva

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the problem here is gonna be investment property,... pretty sure you have to be owner occupied to get a good interest rate,... wonder if the owner will carry??? then the investment drop,.. as does the return... but it lets you stick your finger in the pie...
seller will not carry.
 
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