[quote=spdrun]Nationally, prices didn’t increase by 20-30% p/a.
San Diego: foreign investors, out-of-state investors, landlords, locals. It’s a desirable city.
SF: Googlers, general tech bubble folk.
A 20% correction could easily happen. Remember that property prices have been all over the map since 2008. 50% is much less likely.
Can’t you just buy a 1/1 condo in the $150k range — they do exist — and have her pay you rent for it?
$150 tax, $250 HOA = $400, 80% mortgage =~ $700/mo. $1100/mo is reasonable if it also gleans tax credits for depreciation, etc.[/quote]
nationally, no but San Francisco Bay Area, yes.
condo are 1/1 condo are around $450-500K here. Add $300/mo HOA and various expenses/tax.
that’s gonna be at least $1500-2000/mo. Not doable for someone make $20/hour.
the only $150 condo is about 90-minute drive away.
never thought about tax credit / depreciation. Thanks for letting me know. Owe you one. Will talk with tax acct.
