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December 28, 2007 at 9:40 AM #11345December 28, 2007 at 11:56 AM #125861
Doofrat
ParticipantYou’ve got a lot of people making close to minimum wage plus tips in Vegas, so it shouldn’t be hard to find somebody who can afford $850/ month for a 1 bd and who can’t afford to buy or doesn’t plan on staying in Vegas for long. On the other hand, finding a buyer for that condo might be a problem.
December 28, 2007 at 11:56 AM #125950ParticipantYou’ve got a lot of people making close to minimum wage plus tips in Vegas, so it shouldn’t be hard to find somebody who can afford $850/ month for a 1 bd and who can’t afford to buy or doesn’t plan on staying in Vegas for long. On the other hand, finding a buyer for that condo might be a problem.
December 28, 2007 at 11:56 AM #125922ParticipantYou’ve got a lot of people making close to minimum wage plus tips in Vegas, so it shouldn’t be hard to find somebody who can afford $850/ month for a 1 bd and who can’t afford to buy or doesn’t plan on staying in Vegas for long. On the other hand, finding a buyer for that condo might be a problem.
December 28, 2007 at 11:56 AM #125843ParticipantYou’ve got a lot of people making close to minimum wage plus tips in Vegas, so it shouldn’t be hard to find somebody who can afford $850/ month for a 1 bd and who can’t afford to buy or doesn’t plan on staying in Vegas for long. On the other hand, finding a buyer for that condo might be a problem.
December 28, 2007 at 11:56 AM #125690ParticipantYou’ve got a lot of people making close to minimum wage plus tips in Vegas, so it shouldn’t be hard to find somebody who can afford $850/ month for a 1 bd and who can’t afford to buy or doesn’t plan on staying in Vegas for long. On the other hand, finding a buyer for that condo might be a problem.
December 28, 2007 at 12:14 PM #125858surveyor
Participantusing rough numbers….
My calculations show that the property generates a negative cash flow of around $4600. While the $850 can probably cover the mortgage itself, it does not cover the HOA, property taxes, insurance.
The tax depreciation for the property helps alleviate the bleeding somewhat by the owner being able to get back around $3.5k in taxes, but that still leaves the owner with a negative cash flow of around $1k.
At the cost of $122k, the numbers look better, allowing the property to break even (when you take the taxes into consideration).
December 28, 2007 at 12:14 PM #125876Participantusing rough numbers….
My calculations show that the property generates a negative cash flow of around $4600. While the $850 can probably cover the mortgage itself, it does not cover the HOA, property taxes, insurance.
The tax depreciation for the property helps alleviate the bleeding somewhat by the owner being able to get back around $3.5k in taxes, but that still leaves the owner with a negative cash flow of around $1k.
At the cost of $122k, the numbers look better, allowing the property to break even (when you take the taxes into consideration).
December 28, 2007 at 12:14 PM #125705Participantusing rough numbers….
My calculations show that the property generates a negative cash flow of around $4600. While the $850 can probably cover the mortgage itself, it does not cover the HOA, property taxes, insurance.
The tax depreciation for the property helps alleviate the bleeding somewhat by the owner being able to get back around $3.5k in taxes, but that still leaves the owner with a negative cash flow of around $1k.
At the cost of $122k, the numbers look better, allowing the property to break even (when you take the taxes into consideration).
December 28, 2007 at 12:14 PM #125937Participantusing rough numbers….
My calculations show that the property generates a negative cash flow of around $4600. While the $850 can probably cover the mortgage itself, it does not cover the HOA, property taxes, insurance.
The tax depreciation for the property helps alleviate the bleeding somewhat by the owner being able to get back around $3.5k in taxes, but that still leaves the owner with a negative cash flow of around $1k.
At the cost of $122k, the numbers look better, allowing the property to break even (when you take the taxes into consideration).
December 28, 2007 at 12:14 PM #125964Participantusing rough numbers….
My calculations show that the property generates a negative cash flow of around $4600. While the $850 can probably cover the mortgage itself, it does not cover the HOA, property taxes, insurance.
The tax depreciation for the property helps alleviate the bleeding somewhat by the owner being able to get back around $3.5k in taxes, but that still leaves the owner with a negative cash flow of around $1k.
At the cost of $122k, the numbers look better, allowing the property to break even (when you take the taxes into consideration).
December 28, 2007 at 1:23 PM #125999guitar187
Participant“then how is it a bubble??”
Because we do not use a single one bedroom apartment to derive value. And if I give you the answer, you won’t learn anything. This site is definitely a good place to start but you’ll have to do the research yourself 😉
December 28, 2007 at 1:23 PM #125893Participant“then how is it a bubble??”
Because we do not use a single one bedroom apartment to derive value. And if I give you the answer, you won’t learn anything. This site is definitely a good place to start but you’ll have to do the research yourself 😉
December 28, 2007 at 1:23 PM #125972Participant“then how is it a bubble??”
Because we do not use a single one bedroom apartment to derive value. And if I give you the answer, you won’t learn anything. This site is definitely a good place to start but you’ll have to do the research yourself 😉
December 28, 2007 at 1:23 PM #125910Participant“then how is it a bubble??”
Because we do not use a single one bedroom apartment to derive value. And if I give you the answer, you won’t learn anything. This site is definitely a good place to start but you’ll have to do the research yourself 😉
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