Home › Forums › Financial Markets/Economics › Buying a small condo in UTC as an investment?
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kcal09.
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April 6, 2009 at 3:36 PM #15433April 6, 2009 at 3:40 PM #376907
SanDiegoDave
ParticipantAll the short sales and foreclosures are taking months to get a response from the banks. And I’d be weary of the financial health of the HOA’s on those lower priced condo conversions.
The only real way to make money on a condo rental in UTC right now is to buy a more expensive one, pay with all cash (or at least 50% down), and make sure it’s nicer than the next place that’s asking the same rental price.
April 6, 2009 at 3:40 PM #377185ParticipantAll the short sales and foreclosures are taking months to get a response from the banks. And I’d be weary of the financial health of the HOA’s on those lower priced condo conversions.
The only real way to make money on a condo rental in UTC right now is to buy a more expensive one, pay with all cash (or at least 50% down), and make sure it’s nicer than the next place that’s asking the same rental price.
April 6, 2009 at 3:40 PM #377364ParticipantAll the short sales and foreclosures are taking months to get a response from the banks. And I’d be weary of the financial health of the HOA’s on those lower priced condo conversions.
The only real way to make money on a condo rental in UTC right now is to buy a more expensive one, pay with all cash (or at least 50% down), and make sure it’s nicer than the next place that’s asking the same rental price.
April 6, 2009 at 3:40 PM #377407ParticipantAll the short sales and foreclosures are taking months to get a response from the banks. And I’d be weary of the financial health of the HOA’s on those lower priced condo conversions.
The only real way to make money on a condo rental in UTC right now is to buy a more expensive one, pay with all cash (or at least 50% down), and make sure it’s nicer than the next place that’s asking the same rental price.
April 6, 2009 at 3:40 PM #377529ParticipantAll the short sales and foreclosures are taking months to get a response from the banks. And I’d be weary of the financial health of the HOA’s on those lower priced condo conversions.
The only real way to make money on a condo rental in UTC right now is to buy a more expensive one, pay with all cash (or at least 50% down), and make sure it’s nicer than the next place that’s asking the same rental price.
April 6, 2009 at 3:53 PM #376929jpinpb
ParticipantI think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
April 6, 2009 at 3:53 PM #377206ParticipantI think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
April 6, 2009 at 3:53 PM #377384ParticipantI think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
April 6, 2009 at 3:53 PM #377427ParticipantI think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
April 6, 2009 at 3:53 PM #377551ParticipantI think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
April 6, 2009 at 4:07 PM #376944Scarlett
ParticipantThanks, JP, and especially for the excellent threads on SDL keeping track of those UTC condos!
[quote=jpinpb]I think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
[/quote]
I saw that one too – just the headline though.
I personally prefer Verano, especially location wise, but it’s still a little overpriced IMO. Regents is still way overpriced.I think that most of the conversion should actually convert back to rentals, because that’s what most will be anyway.
April 6, 2009 at 4:07 PM #377221ParticipantThanks, JP, and especially for the excellent threads on SDL keeping track of those UTC condos!
[quote=jpinpb]I think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
[/quote]
I saw that one too – just the headline though.
I personally prefer Verano, especially location wise, but it’s still a little overpriced IMO. Regents is still way overpriced.I think that most of the conversion should actually convert back to rentals, because that’s what most will be anyway.
April 6, 2009 at 4:07 PM #377399ParticipantThanks, JP, and especially for the excellent threads on SDL keeping track of those UTC condos!
[quote=jpinpb]I think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
[/quote]
I saw that one too – just the headline though.
I personally prefer Verano, especially location wise, but it’s still a little overpriced IMO. Regents is still way overpriced.I think that most of the conversion should actually convert back to rentals, because that’s what most will be anyway.
April 6, 2009 at 4:07 PM #377442ParticipantThanks, JP, and especially for the excellent threads on SDL keeping track of those UTC condos!
[quote=jpinpb]I think rent prices are going down. On one of those threads someone posted about USCD adding more student housing.
Banks seem to like cash deal only, holding up sales, besides the normal short sales. The occupancy rate also affects banks lending. Some of the HOAs have lawsuits (Vicenza, Lucera). I’m seriously wondering about the health of some of these HOAs and I have yet to figure out what happens if they go bankrupt. State takes them over?
Overall, I think some of them pencil out rent wise today. If you screen the tenant well, hopefully they won’t trash the place and pay on time. There are some good deals out there and some make sense. USCD does not have a reputation as a party school and I would think the students renting are responsible.
The only unknown factor is if rents decline.
SDDT had a headline:
“San Diego County’s apartment vacancy rate rising, as rents decline
The apartment vacancy rate has surpassed the 5 percent mark for the first time in about 15 years.”I didn’t get to read the whole story.
[/quote]
I saw that one too – just the headline though.
I personally prefer Verano, especially location wise, but it’s still a little overpriced IMO. Regents is still way overpriced.I think that most of the conversion should actually convert back to rentals, because that’s what most will be anyway.
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