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| StriperTalk! All things Striper |
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02-04-2005, 08:46 AM
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#1
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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Anybody want to pitch in?
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02-04-2005, 08:50 AM
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#2
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Certifiable Intertidal Anguiologist
Join Date: Feb 2000
Location: Somewhere between OOB & west of Watch Hill
Posts: 35,270
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Only $962 a member! Let's do it!  |
~Fix the Bait~ ~Pogies Forever~
Striped Bass Fishing - All Stripers
Kobayashi Maru Election - there is no way to win.
Apocalypse is Coming:
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02-04-2005, 08:57 AM
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#3
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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Get 10 people, divide the cottages up . Form a non-profit and use the rental income to pay taxes and maintenance. Avg of $1100 a week, 10 cottages X 8 weeks (just July and August) = 88,000 income. That should cover maint, taxes and insurance. Fish spring and fall,
A fishing village just for fisherman and families.
I'm game.
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02-04-2005, 10:09 AM
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#4
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Registered User
Join Date: Apr 2004
Location: Bridgewater, MA
Posts: 438
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A Striped-Bass.com timeshare!!! Count me in!
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My goal in life is to be the kind of man my dog thinks I am.
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02-04-2005, 10:11 AM
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#5
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Super Moderator
Join Date: Sep 2003
Location: Georgetown MA
Posts: 18,203
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Quote:
Originally posted by Motor Fish
A Striped-Bass.com timeshare!!! Count me in!
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Yeah but who wants 2 weeks in January.......
$962....the check is in the Mail |
"If you're arguing with an idiot, make sure he isn't doing the same thing."
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02-04-2005, 10:39 AM
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#6
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,691
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Fishing comunity in the summer/fall..... plug building commune in the winter- |
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02-04-2005, 10:41 AM
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#7
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Registered User
Join Date: Oct 2000
Location: in a structure with a roof
Posts: 6,049
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casino/ otb here I come
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02-04-2005, 10:51 AM
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#8
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Stuck In Reality
Join Date: May 2004
Location: Holden MA
Posts: 4,519
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I have had my share of daydreams about that place. |
Go Ugly Early 
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02-04-2005, 11:27 AM
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#9
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...
Join Date: Jan 2004
Location: MA/RI
Posts: 2,411
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The mortgage would be less then $16,000.
Sale price $2.4m, $600,00 down payment
principal & interest (6%, 25 yrs. on $1.8 mil) ==> $11,597/mo
taxes==============================> $ 3,000/mo
insurance===========================> $ 1,000/mo
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Total $16,000/mo
$16,000 / 18 bedrooms = $ 888.00/mo.
With only 18 people, you can rent this out every other week in the summer and pay for the mortgage plus have another $888. for the winter months when not being used and have two weeks for yourself free.
This is not a bad deal except for the down payment. Maybe the owner will do financing.
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02-04-2005, 11:34 AM
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#10
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Boston Anglah
Join Date: Sep 2004
Location: Sitting on top of the world with my legs hangin free
Posts: 3,322
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I am in!
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Used hard and put away dirty....
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02-04-2005, 12:50 PM
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#11
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Very Grumpy bay man
Join Date: Nov 2003
Location: Rhode Island
Posts: 10,824
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If they are winterized you can rent them in the winter to URI students $1000 per month.
I am in.
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No boat, back in the suds. 
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02-04-2005, 02:23 PM
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#12
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Is it May yet?
Join Date: Apr 2004
Location: Gloucester Ma
Posts: 1,238
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Hmmm... my Fed tax return is exactly..... $962!!!
Sign me up!
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"Twitch....Twitch....Twitch....WHAM!"
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02-04-2005, 04:04 PM
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#13
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Registered User
Join Date: Feb 2003
Location: Newtown, CT
Posts: 5,659
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No way the taxes are going to stay at 3,000, they'll probably go to 30,000!
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02-04-2005, 04:17 PM
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#14
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Very Grumpy bay man
Join Date: Nov 2003
Location: Rhode Island
Posts: 10,824
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Just so everyone understand So. County taxes. The club I belong to, the Narragamsett Saltwater Fishing Club, owns a house on the road to Deep Hole in So Kingston. It's our club house and has frontage on the Atlantic and on Potters Pond.
We have been trying to get non-profit status for a long time. Something that is much more difficult than you would imagine.
Anyway, the clubhouse was recently re-assessed. I can't say exactly how much but this is one house with 2 baths and I believe our taxes are $12,000 a year.
The piece of property we are talking about clearly is assessed at the old assessed value, not at the $2.4 million asking price.
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No boat, back in the suds.
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02-04-2005, 06:43 PM
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#15
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Registered User
Join Date: May 2003
Location: Long Island's North Fork
Posts: 222
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If that one falls through, maybe this one might interest you... HUMBLE ABODE |
M.S.A. #422
L.I.B.B.A. #422
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02-04-2005, 07:40 PM
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#16
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...
Join Date: Jan 2004
Location: MA/RI
Posts: 2,411
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The $3,000 is per month not per year. That would be $36,000 per year. Figure a tax rate of about $15.00 per thousand times $2.4m gives the above.
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02-05-2005, 09:18 AM
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#17
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Very Grumpy bay man
Join Date: Nov 2003
Location: Rhode Island
Posts: 10,824
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That makes sense
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No boat, back in the suds.
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02-06-2005, 08:25 PM
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#18
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Registered User
Join Date: Oct 2001
Location: .
Posts: 5,935
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Is the land included?
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