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The Bayview Inn motel in West Atlantic City, NJ had been featured on the YouTube series, "Another Dirty Room".  Total shit hole.  Later, a major drug raid on the property led to its closure.  It never reopened.  Squatters had set fire to it twice since the closure.

More recently, the city had planned to put the property up for auction with a minimum bid of $600k.  However, the building has been deemed unsafe and a new plan to demolish it is under way.

So, when a 100 unit motel is only valued at $600k, what is the vacant lot worth?

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You tell me.  I know a 1/4 acre commercial lot is like 50 grand here. 

 

 

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I was waiting for Nabs.... But this will do.

1SXNMWX.jpg

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8 hours ago, Clu said:

I was waiting for Nabs.... But this will do.

1SXNMWX.jpg

So,, you found your tape worm infection... Congratulations.

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11 hours ago, 1938 Packard said:

So, when a 100 unit motel is only valued at $600k, what is the vacant lot worth?

Not a whole lot for what would be an acre of property, but more than you'll ever be able to afford.

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4 minutes ago, scoobdog said:

Not a whole lot for what would be an acre of property, but more than you'll ever be able to afford.

I'm just a guy who had three mortgages at different times.  

Yes, I can buy a house.

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5 minutes ago, 1938 Packard said:

I'm just a guy who had three mortgages at different times.  

Yes, I can buy a house.

Not without your brother's money you can't.

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9 hours ago, scoobdog said:

Not without your brother's money you can't.

You really think so?  What's the difference between paying rent in this apartment and making a mortgage payment in a modest house?

Hint: Bro isn't paying my rent.

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4 hours ago, 1938 Packard said:

You really think so?  What's the difference between paying rent in this apartment and making a mortgage payment in a modest house?

Hint: Bro isn't paying my rent.

That not a "hint" douchebag.  And seeing as you're not paying a mortgage, I'd say the difference is that you can afford rent in a slum but not the mortgage payment on a "modest" house.

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20 minutes ago, scoobdog said:

That not a "hint" douchebag.  And seeing as you're not paying a mortgage, I'd say the difference is that you can afford rent in a slum but not the mortgage payment on a "modest" house.

They're about the same, Nucky.

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11 hours ago, scoobdog said:

No they aren't, dickmunch.

You are aware that mortgage payments can vary, based on the sale price?

A house doesn't have to cost six hundred grand.

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49 minutes ago, 1938 Packard said:

You are aware that mortgage payments can vary, based on the sale price?

A house doesn't have to cost six hundred grand.

A well to do gentleman such as yourself would have no need for a mortgage to purchase the shitheap you live in.

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16 minutes ago, scoobdog said:

A well to do gentleman such as yourself would have no need for a mortgage to purchase the shitheap you live in.

But the fact still stands that I can qualify for one. 

The fact that I rent now does not prove I will rent forever. 

I really don't want to buy anything in New Jersey, where property values are declining.  When I retire and collection my pensions, I will have no need to reside in New Jersey.  Then, I will buy a house in a low tax state.

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2 hours ago, 1938 Packard said:

 I will have no need to reside in New Jersey.  Then, I will buy a house in a low tax state.

It always cheers me up when I see you talk about your job as if you're important.  Gotta live that big city life to make that sought after shitter money, then you can move somewhere affordable, but first....Shitter money.

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7 hours ago, scoobdog said:

You have one foot in the grave, bitch.  No one's giving you a loan when you'll be dead in like five years.

There's one in my name already.  There had been two others earlier.

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7 hours ago, Sho Minamimoto said:

It always cheers me up when I see you talk about your job as if you're important.  Gotta live that big city life to make that sought after shitter money, then you can move somewhere affordable, but first....Shitter money.

So, I'm supposed to earn three or four times what I currently earn just so I can give it all to the county or the city and get no return on it?

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18 minutes ago, 1938 Packard said:

So, I'm supposed to earn three or four times what I currently earn just so I can give it all to the county or the city and get no return on it?

LOL, it's funny that you think that's how money works.

Tell me again how you and the HVAC dude takes home the same pay....That story was hilarious.

Edited by Sho Minamimoto

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1 hour ago, Sho Minamimoto said:

LOL, it's funny that you think that's how money works.

Tell me again how you and the HVAC dude takes home the same pay....That story was hilarious.

Property tax is weird in Atlantic City.

There's one piece of land that I can literally buy with a credit card, but get stuck paying more than its entire purchase price every year in county and municipal taxes.  There's no valid excuse for that and so, I'm not playing that game.  It's not at a question of coming up with the purchase cost.  It's the subsequent obligations I can do better without.  

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1 minute ago, 1938 Packard said:

Property tax is weird in Atlantic City.

There's one piece of land that I can literally buy with a credit card, but get stuck paying more than its entire purchase price every year in county and municipal taxes.  There's no valid excuse for that and so, I'm not playing that game.  It's not at a question of coming up with the purchase cost.  It's the subsequent obligations I can do better without.  

If there weren't taxes on it, it would be more expensive. It's reflected in the price. It's not like you could afford land w/your puny janitor scraps but the evil taxman is stopping you.

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13 minutes ago, Poof said:

If there weren't taxes on it, it would be more expensive. It's reflected in the price. It's not like you could afford land w/your puny janitor scraps but the evil taxman is stopping you.

Then, why did the banks approve three mortgages for me?

How about my first piece of property?  You know, the one for which I paid cash and later sold for three times the amount?

 

 

 

Edited by 1938 Packard

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6 hours ago, 1938 Packard said:

There's one in my name already.  There had been two others earlier.

And you pay out of pocket for none of them.

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6 minutes ago, scoobdog said:

And you pay out of pocket for none of them.

The lender would not have approved a loan if they thought I can't pay.

When this one is paid off, what's going to stop me from getting one for myself and paying it off myself.

And you still have not addressed the land I had bought for cash without a mortgage.

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The lender doesn't give a shit as long as the money is coming in.  And, of course, I could by land in the middle of nowhere for whatever change is in my pocket.  Doesn't mean its any place where I can actually live.

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17 minutes ago, scoobdog said:

The lender doesn't give a shit as long as the money is coming in.  And, of course, I could by land in the middle of nowhere for whatever change is in my pocket.  Doesn't mean its any place where I can actually live.

Pinedale, WY is developed. 

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18 minutes ago, scoobdog said:

The lender doesn't give a shit as long as the money is coming in.  And, of course, I could by land in the middle of nowhere for whatever change is in my pocket.  Doesn't mean its any place where I can actually live.

The lender wasn't looking at my brother.  He wasn't part of the application process.

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2 minutes ago, 1938 Packard said:

Pinedale, WY is developed. 

Pinedale WY; the place where old white janitor go to disappear forever.  Seriously, that place is so far from anywhere you could die in your hovel and no one would ever know.

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10 minutes ago, scoobdog said:

Pinedale WY; the place where old white janitor go to disappear forever.  Seriously, that place is so far from anywhere you could die in your hovel and no one would ever know.

Except the county sheriff.  Some people enjoy the seclusion.

 

You can sleep there without hearing police, fire and ambulance sirens every ten minutes.

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36 minutes ago, 1938 Packard said:

Except the county sheriff.  Some people enjoy the seclusion.

 

You can sleep there without hearing police, fire and ambulance sirens every ten minutes.

And when you wake up, there's literally nothing to do besides wander around the surrounding hills and wait for a coyote to eat you.

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10 hours ago, scoobdog said:

And when you wake up, there's literally nothing to do besides wander around the surrounding hills and wait for a coyote to eat you.

Then, make something to do.

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12 hours ago, 1938 Packard said:

Then, make something to do.

In the middle of nowhere?  You're a fucking idiot.

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33 minutes ago, scoobdog said:

In the middle of nowhere?  You're a fucking idiot.

You never went trout fishing?  How about speed boating?  Take in a live bluegrass show.  Try your hand at ATV driving.  Water skiing.  Set off some fireworks (designated areas only).  

Or just make improving your cabin your full time hobby.  

 

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2 minutes ago, 1938 Packard said:

You never went trout fishing?  How about speed boating?  Take in a live bluegrass show.  Try your hand at ATV driving.  Water skiing.  Set off some fireworks (designated areas only).  

Or just make improving your cabin your full time hobby.  

 

If you're lucky, the speed boat capsizes the first time you hit Fremont Lake.  Then at least you won't die of boredom.

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1 minute ago, scoobdog said:

If you're lucky, the speed boat capsizes the first time you hit Fremont Lake.  Then at least you won't die of boredom.

And besides, if I'm retired there with a decent income, I can also fly to New York or Tokyo for some extra excitement.  Let me see whether the local airport gets expanded by that time.

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Just now, 1938 Packard said:

And besides, if I'm retired there with a decent income, I can also fly to New York or Tokyo for some extra excitement.  Let me see whether the local airport gets expanded by that time.

I don't think "Ralph Wenz Field" can handle widebody airliners.  Hell, it doesn't look like it can handle twin engine props.

The only way you're making it to New York is if a tornado tears through town, sucks your lifeless body into the jetstream and miraculous deposits you on Broadway a few days later.

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Just now, scoobdog said:

I don't think "Ralph Wenz Field" can handle widebody airliners.  Hell, it doesn't look like it can handle twin engine props.

The only way you're making it to New York is if a tornado tears through town, sucks your lifeless body into the jetstream and miraculous deposits you on Broadway a few days later.

The bigger airport is in Jackson.  Full size jets land there.

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13 minutes ago, 1938 Packard said:

The bigger airport is in Jackson.  Full size jets land there.

Lol.

I hope Pinedale has internet so I can mock you every day for sitting around, waiting to die.

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23 minutes ago, scoobdog said:

Lol.

I hope Pinedale has internet so I can mock you every day for sitting around, waiting to die.

It's amazing what else you can do when you don't have work obligations.

I also think the Carolinas and parts of Texas look good.  Anyplace that has reasonable property taxes.

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4 hours ago, 1938 Packard said:

It's amazing what else you can do when you don't have work obligations.

I also think the Carolinas and parts of Texas look good.  Anyplace that has reasonable property taxes.

Dear god, move to South Carolina.....We just may be able to contain this problem.

Edited by Sho Minamimoto
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On 5/16/2019 at 2:58 PM, 1938 Packard said:

Then, why did the banks approve three mortgages for me?

How about my first piece of property?  You know, the one for which I paid cash and later sold for three times the amount?

 

 

 

Then quit bitching about how expensive it is

Jesus

Simple Packard

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14 hours ago, Poof said:

Then quit bitching about how expensive it is

Jesus

Simple Packard

Rent here, own something later someplace else.  

That's the plan.

For myself, I wouldn't buy a stone in New Jersey if I had a hundred billion dollars.

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2 hours ago, 1938 Packard said:

Rent here, own something later someplace else.  

That's the plan.

For myself, I wouldn't buy a stone in New Jersey if I had a hundred billion dollars.

We appreciate you sharing your plan.  Be sure to show us your ticket so we can greet you at your final destination.

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