Home › Forums › Financial Markets/Economics › $300k property $2800 in rent does it work on paper?
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February 20, 2011 at 4:22 PM #669918February 21, 2011 at 9:53 AM #669092DoofratParticipant
Either:
1. The rent figure you’re being given is being inflated
– or –
2. The price is really really low.If the case is #2, please PM me the address so I may swoop in and steal it from you π
February 21, 2011 at 9:53 AM #669154DoofratParticipantEither:
1. The rent figure you’re being given is being inflated
– or –
2. The price is really really low.If the case is #2, please PM me the address so I may swoop in and steal it from you π
February 21, 2011 at 9:53 AM #669761DoofratParticipantEither:
1. The rent figure you’re being given is being inflated
– or –
2. The price is really really low.If the case is #2, please PM me the address so I may swoop in and steal it from you π
February 21, 2011 at 9:53 AM #669900DoofratParticipantEither:
1. The rent figure you’re being given is being inflated
– or –
2. The price is really really low.If the case is #2, please PM me the address so I may swoop in and steal it from you π
February 21, 2011 at 9:53 AM #670243DoofratParticipantEither:
1. The rent figure you’re being given is being inflated
– or –
2. The price is really really low.If the case is #2, please PM me the address so I may swoop in and steal it from you π
February 21, 2011 at 3:07 PM #669187EugeneParticipant[quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?
February 21, 2011 at 3:07 PM #669249EugeneParticipant[quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?
February 21, 2011 at 3:07 PM #669856EugeneParticipant[quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?
February 21, 2011 at 3:07 PM #669995EugeneParticipant[quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?
February 21, 2011 at 3:07 PM #670338EugeneParticipant[quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?
February 21, 2011 at 5:58 PM #669227PCinSDGuest[quote=Eugene][quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?[/quote]
It’s being rented out to a single family. He took his time and was very picky with his choice of tenant. And it was a 4 bed, 3 full bath with a yard. In a small HOA community at the end of a cul-de-sac. But I would agree that he is lucky to be getting $2300/month for that place. It is what it is.
Another guy I know is a landlord and rents out a house around the corner from him for $2000 a month. That’s a Section 8 unit. There is no way that place is worth $2000 a month. But Section 8 is a different market. It appears they pay more than what a unit would get on the open market.
February 21, 2011 at 5:58 PM #669289PCinSDGuest[quote=Eugene][quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?[/quote]
It’s being rented out to a single family. He took his time and was very picky with his choice of tenant. And it was a 4 bed, 3 full bath with a yard. In a small HOA community at the end of a cul-de-sac. But I would agree that he is lucky to be getting $2300/month for that place. It is what it is.
Another guy I know is a landlord and rents out a house around the corner from him for $2000 a month. That’s a Section 8 unit. There is no way that place is worth $2000 a month. But Section 8 is a different market. It appears they pay more than what a unit would get on the open market.
February 21, 2011 at 5:58 PM #669896PCinSDGuest[quote=Eugene][quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?[/quote]
It’s being rented out to a single family. He took his time and was very picky with his choice of tenant. And it was a 4 bed, 3 full bath with a yard. In a small HOA community at the end of a cul-de-sac. But I would agree that he is lucky to be getting $2300/month for that place. It is what it is.
Another guy I know is a landlord and rents out a house around the corner from him for $2000 a month. That’s a Section 8 unit. There is no way that place is worth $2000 a month. But Section 8 is a different market. It appears they pay more than what a unit would get on the open market.
February 21, 2011 at 5:58 PM #670035PCinSDGuest[quote=Eugene][quote=pabloesqobar]
Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.[/quote]
Maybe the fact that it’s a dual family dwelling tilts things in his direction. If it were a single family, there would be a zero chance of finding a habitable house that costs 300k and rents anywhere above your 2300. Even 2300 sounds too high. You can get a 3-bedroom in Rancho Penasquitos south of 56 for that. Is your friend renting out the whole house to one family, or room by room?[/quote]
It’s being rented out to a single family. He took his time and was very picky with his choice of tenant. And it was a 4 bed, 3 full bath with a yard. In a small HOA community at the end of a cul-de-sac. But I would agree that he is lucky to be getting $2300/month for that place. It is what it is.
Another guy I know is a landlord and rents out a house around the corner from him for $2000 a month. That’s a Section 8 unit. There is no way that place is worth $2000 a month. But Section 8 is a different market. It appears they pay more than what a unit would get on the open market.
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