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surveyor.
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June 12, 2008 at 11:21 AM #13025June 12, 2008 at 11:22 AM #221836
cv2
ParticipantSorry forget to add the property link
http://www.sdlookup.com/MLS-080039411-9415_Gold_Coast_B4_San_Diego_Ca_92126
June 12, 2008 at 11:22 AM #221939ParticipantSorry forget to add the property link
http://www.sdlookup.com/MLS-080039411-9415_Gold_Coast_B4_San_Diego_Ca_92126
June 12, 2008 at 11:22 AM #221953ParticipantSorry forget to add the property link
http://www.sdlookup.com/MLS-080039411-9415_Gold_Coast_B4_San_Diego_Ca_92126
June 12, 2008 at 11:22 AM #221985ParticipantSorry forget to add the property link
http://www.sdlookup.com/MLS-080039411-9415_Gold_Coast_B4_San_Diego_Ca_92126
June 12, 2008 at 11:22 AM #222002ParticipantSorry forget to add the property link
http://www.sdlookup.com/MLS-080039411-9415_Gold_Coast_B4_San_Diego_Ca_92126
June 12, 2008 at 11:46 AM #221876ParticipantMy thinking is the following:
I want to offer $150K including $20K fix-up cost. Per investment mortgage rate of 7%, that’s about $1,000/month. $270 HOA and $100 Property tax. The total expense is $1,370/month.
The rent is only $1,100/month so I am $270 short every month, or $3,240 a year.
I do get write-off from depreciation, for about $3,000/year. It seems that I will be close to even.
These are the assumptions:
1. assumed full 12 month rent
2. assumed no commission for finding tenants
3. special assessment: lots of units in the complex are in REO or short sale.
4. assume the rent will maintain the current level.June 12, 2008 at 11:46 AM #221979ParticipantMy thinking is the following:
I want to offer $150K including $20K fix-up cost. Per investment mortgage rate of 7%, that’s about $1,000/month. $270 HOA and $100 Property tax. The total expense is $1,370/month.
The rent is only $1,100/month so I am $270 short every month, or $3,240 a year.
I do get write-off from depreciation, for about $3,000/year. It seems that I will be close to even.
These are the assumptions:
1. assumed full 12 month rent
2. assumed no commission for finding tenants
3. special assessment: lots of units in the complex are in REO or short sale.
4. assume the rent will maintain the current level.June 12, 2008 at 11:46 AM #221991ParticipantMy thinking is the following:
I want to offer $150K including $20K fix-up cost. Per investment mortgage rate of 7%, that’s about $1,000/month. $270 HOA and $100 Property tax. The total expense is $1,370/month.
The rent is only $1,100/month so I am $270 short every month, or $3,240 a year.
I do get write-off from depreciation, for about $3,000/year. It seems that I will be close to even.
These are the assumptions:
1. assumed full 12 month rent
2. assumed no commission for finding tenants
3. special assessment: lots of units in the complex are in REO or short sale.
4. assume the rent will maintain the current level.June 12, 2008 at 11:46 AM #222042ParticipantMy thinking is the following:
I want to offer $150K including $20K fix-up cost. Per investment mortgage rate of 7%, that’s about $1,000/month. $270 HOA and $100 Property tax. The total expense is $1,370/month.
The rent is only $1,100/month so I am $270 short every month, or $3,240 a year.
I do get write-off from depreciation, for about $3,000/year. It seems that I will be close to even.
These are the assumptions:
1. assumed full 12 month rent
2. assumed no commission for finding tenants
3. special assessment: lots of units in the complex are in REO or short sale.
4. assume the rent will maintain the current level.June 12, 2008 at 11:46 AM #222025ParticipantMy thinking is the following:
I want to offer $150K including $20K fix-up cost. Per investment mortgage rate of 7%, that’s about $1,000/month. $270 HOA and $100 Property tax. The total expense is $1,370/month.
The rent is only $1,100/month so I am $270 short every month, or $3,240 a year.
I do get write-off from depreciation, for about $3,000/year. It seems that I will be close to even.
These are the assumptions:
1. assumed full 12 month rent
2. assumed no commission for finding tenants
3. special assessment: lots of units in the complex are in REO or short sale.
4. assume the rent will maintain the current level.June 12, 2008 at 11:53 AM #222008surveyor
Participantinsurance
You forgot to put in your insurance cost.
I’m sure there are other costs, but the insurance cost is mandatory (about $900/yr if you go cheapo).
Other than that, it does look like it will breakeven, but I would recommend trying to get the property lower than $120k, so that you can get more credit for the $20k fix up cost.
My price? Probably around $105k. ($125k including $20k fixup cost).
June 12, 2008 at 11:53 AM #222057Participantinsurance
You forgot to put in your insurance cost.
I’m sure there are other costs, but the insurance cost is mandatory (about $900/yr if you go cheapo).
Other than that, it does look like it will breakeven, but I would recommend trying to get the property lower than $120k, so that you can get more credit for the $20k fix up cost.
My price? Probably around $105k. ($125k including $20k fixup cost).
June 12, 2008 at 11:53 AM #222040Participantinsurance
You forgot to put in your insurance cost.
I’m sure there are other costs, but the insurance cost is mandatory (about $900/yr if you go cheapo).
Other than that, it does look like it will breakeven, but I would recommend trying to get the property lower than $120k, so that you can get more credit for the $20k fix up cost.
My price? Probably around $105k. ($125k including $20k fixup cost).
June 12, 2008 at 11:53 AM #221994Participantinsurance
You forgot to put in your insurance cost.
I’m sure there are other costs, but the insurance cost is mandatory (about $900/yr if you go cheapo).
Other than that, it does look like it will breakeven, but I would recommend trying to get the property lower than $120k, so that you can get more credit for the $20k fix up cost.
My price? Probably around $105k. ($125k including $20k fixup cost).
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