Prairie Eco-Thrifter
NOVEMBER 6, 2017
We planned to rent out the property and thought it would rent quite a few days of the year. We planned our purchase in the heady days just prior to the recession of 2008/2009. Operating costs of keeping the condo rented have been higher than expected. We went there 5 years for camp so I would have spent $10,000 in rent.
Prairie Eco-Thrifter
SEPTEMBER 15, 2016
During the great recession, I’ve heard that folks were just dumping their boats in isolated waterways – to avoid those ongoing costs. No one was buying used boats during the recession. Since all they like to do is tour, renting a boat for a couple of hours gives most what they want in a boat ride. So why buy?
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Prairie Eco-Thrifter
AUGUST 11, 2015
My sister-in-law and her husband had one that they used and rented out and indicated that it was doing well. Unfortunately, I was over optimistic about how many days per year the condo would rent. Guess which ones always rented first? We purchased a vacation condo in a local resort area in 2006 (yep, right before the crash).
Prairie Eco-Thrifter
AUGUST 26, 2011
Know beforehand if you plan on making money off your real estate via rent or capital gains. Will I make more money off of rent, or more money off of the increase of the value of the land? Certain areas are better suited to making money off of rent, and other areas are more suited to making money off of the increase in the land’s value.
Prairie Eco-Thrifter
SEPTEMBER 30, 2013
I graduated from State U with a liberal arts degree in the early 1970s – when there was a world wide recession followed by stagflation. She rents a space in a salon, managing her own client base, collecting her own fees, obtaining her own supplies, providing her own training and etc. My newly won degree brought no lucrative job.
Prairie Eco-Thrifter
MARCH 8, 2017
We planted, tended and harvested from a vegetable garden even when we rented a quadraplex. Some asset types do better during inflationary years, some do better in recessions. In between we have planted everything from rose bushes to azalea bushes to fruit and nut trees to vegetable plants and grass. So do finances.
Prairie Eco-Thrifter
MAY 26, 2016
Although we think of the Great Recession starting in early 2009, it wasn’t until 2013 that the 5 year CD interest rate fell below 1% – and has stayed there ever since according to Bank Rates interest survey data. Investing, rather than saving in ultra ‘secure’ places is (in my opinion): More lucrative.
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