fame & fortune

From experience:
Inherited $250K from proceeds of deceased parent's home.

Bought two rental properties in Texas. Earning roughly 8% annual income on the investment. It is enough income to keep us above water on tuition loan payments for 3 different colleges at the same time. No Fame No fortune, but hope that we will one day retire free from debt.

oh, when you said property I was thinking like a few acres.

I'm in Texas and have been looking at a couple of acres with a house and it's running into the 75-100k range, not even for a big house. land be expensive, yo.

This makes sense. I've lived in New Orleans for almost 10 years and land with a home there is expensive there too. I guess it just depends on what you want.

You're not going far enough out. My parents bought 60 acres of land out in Folsom, and built a 5 bedroom, 3.5 bath, 3000 sq ft house for under $100k.

Of course, this was in 1976.

oh, when you said property I was thinking like a few acres.

I'm in Texas and have been looking at a couple of acres with a house and it's running into the 75-100k range, not even for a big house. land be expensive, yo.

This makes sense. I've lived in New Orleans for almost 10 years and land with a home there is expensive there too. I guess it just depends on what you want.

You're not going far enough out. My parents bought 60 acres of land out in Folsom, and built a 5 bedroom, 3.5 bath, 3000 sq ft house for under $100k.

Of course, this was in 1976.

That's the key... when i said the key was your parents, this is what I meant lol.. That doesn't happen anymore ever... anywhere. :ohwell:

I'm not the Ohio guy. I don't know how long ago his parents bought that house.

Key for my parents, outside of the year, was that Folsom, Louisiana was out in the sticks. People from New Orleans were moving north, but they weren't going as far as Folsom, and the land was cheap ($300 per acre). My dad's side of the family owns an electrical contracting company, so much of the work was done dirt cheap.

You can still find land under $500 an acre, IF you are willing to live out in the boonies, but unless you can build a house yourself, that's where the real cost is going to come in. Even without labor, the cost of building materials has far out-paced the average income increase.

oh, when you said property I was thinking like a few acres.

I'm in Texas and have been looking at a couple of acres with a house and it's running into the 75-100k range, not even for a big house. land be expensive, yo.

This makes sense. I've lived in New Orleans for almost 10 years and land with a home there is expensive there too. I guess it just depends on what you want.

You're not going far enough out. My parents bought 60 acres of land out in Folsom, and built a 5 bedroom, 3.5 bath, 3000 sq ft house for under $100k.

Of course, this was in 1976.

That's the key... when i said the key was your parents, this is what I meant lol.. That doesn't happen anymore ever... anywhere. :ohwell:

I'm not the Ohio guy. I don't know how long ago his parents bought that house.

Key for my parents, outside of the year, was that Folsom, Louisiana was out in the sticks. People from New Orleans were moving north, but they weren't going as far as Folsom, and the land was cheap ($300 per acre). My dad's side of the family owns an electrical contracting company, so much of the work was done dirt cheap.

You can still find land under $500 an acre, IF you are willing to live out in the boonies, but unless you can build a house yourself, that's where the real cost is going to come in. Even without labor, the cost of building materials has far out-paced the average income increase.

I know you aren't the ohio guy.. I said your parents referencing this ohio guy, if he ever comes back.