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ctr70.
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October 5, 2009 at 8:04 AM #464572October 5, 2009 at 9:24 AM #463793
recordsclerk
ParticipantTG,
Can you give a link to condos you would consider?
October 5, 2009 at 9:24 AM #463985ParticipantTG,
Can you give a link to condos you would consider?
October 5, 2009 at 9:24 AM #464333ParticipantTG,
Can you give a link to condos you would consider?
October 5, 2009 at 9:24 AM #464404ParticipantTG,
Can you give a link to condos you would consider?
October 5, 2009 at 9:24 AM #464611ParticipantTG,
Can you give a link to condos you would consider?
October 5, 2009 at 9:54 AM #463819Nor-LA-SD-guy
Participant[quote=temeculaguy]Vegas scares me because I don’t know enough about it and it’s problems seem too large, too much based on tourism.
The I/E is tricky, gotta be picky with regards to communities. There are some opportunities appearing, probably the hardest hit areas are those around March AFB, it never recovered from the base closing or the last downturn. I’ve never actually been there because it’s an armpit and I have no reason to go there but there have been some developments lately that will cause a demand for rentals.
http://nctimes.com/news/local/swcounty/article_889d6fee-4ae3-56f6-98e8-77234209cac6.html
I can’t find the articles but there is also a korean rail car company and a korean household goods company (don’t know what that means, maybe spoons and blenders and walmart crap) that are setting up deals there to manufacture. The closed base area has freight access to LA, OC and SD, plus a cargo airport and is in some foriegn enterprise zone for taxes. I don’t know what it all means other than dirt cheap rentals and bunch of jobs for renter type demographics.
I want to add a grain of salt, the one that has kept me from the lower end neighborhoods and high density rentals. The lowest end jobs are the ones getting beat up the most, the welfare benefits are being reduced and illegal aliens are moving away and self deporting. This means less low end renters, at least it’s a fair argument and one that has me shying away from what are some good numbers.
The low end SD areas, you gotta ask someone else, but they are places that may suffer a similar fate. As a community, it’s not the worst thing in the world to have your poorest pack up in search of greener pastures, but as a landlord, it would suck because they are pretty much the only people that will live there.
I also keep reading stories regarding certain schools and districts that serve primarily spanish speaking students are losing enrollment, it’s a more transient demographic than others, I’m afraid of being left holding the bag if the shift increases.[/quote]
Sorry TG got to go the other way on this issue, It is a lot easier to find someone to rent a place for 700 to 1000 dollars a month than it is to find someone to pay 1500 to 2200 dollars a month as long as the neighbor hood is not too iffy , and Vegas is hopping these days (can’t say why but the streets are overflowing literally), just got back from there, new construction is ongoing and new projects everywhere, (these are very big projects were talking billions involved), But on the other hand I could not see myself living anywhere near vegas (OK to visit once a year though).
October 5, 2009 at 9:54 AM #464010Participant[quote=temeculaguy]Vegas scares me because I don’t know enough about it and it’s problems seem too large, too much based on tourism.
The I/E is tricky, gotta be picky with regards to communities. There are some opportunities appearing, probably the hardest hit areas are those around March AFB, it never recovered from the base closing or the last downturn. I’ve never actually been there because it’s an armpit and I have no reason to go there but there have been some developments lately that will cause a demand for rentals.
http://nctimes.com/news/local/swcounty/article_889d6fee-4ae3-56f6-98e8-77234209cac6.html
I can’t find the articles but there is also a korean rail car company and a korean household goods company (don’t know what that means, maybe spoons and blenders and walmart crap) that are setting up deals there to manufacture. The closed base area has freight access to LA, OC and SD, plus a cargo airport and is in some foriegn enterprise zone for taxes. I don’t know what it all means other than dirt cheap rentals and bunch of jobs for renter type demographics.
I want to add a grain of salt, the one that has kept me from the lower end neighborhoods and high density rentals. The lowest end jobs are the ones getting beat up the most, the welfare benefits are being reduced and illegal aliens are moving away and self deporting. This means less low end renters, at least it’s a fair argument and one that has me shying away from what are some good numbers.
The low end SD areas, you gotta ask someone else, but they are places that may suffer a similar fate. As a community, it’s not the worst thing in the world to have your poorest pack up in search of greener pastures, but as a landlord, it would suck because they are pretty much the only people that will live there.
I also keep reading stories regarding certain schools and districts that serve primarily spanish speaking students are losing enrollment, it’s a more transient demographic than others, I’m afraid of being left holding the bag if the shift increases.[/quote]
Sorry TG got to go the other way on this issue, It is a lot easier to find someone to rent a place for 700 to 1000 dollars a month than it is to find someone to pay 1500 to 2200 dollars a month as long as the neighbor hood is not too iffy , and Vegas is hopping these days (can’t say why but the streets are overflowing literally), just got back from there, new construction is ongoing and new projects everywhere, (these are very big projects were talking billions involved), But on the other hand I could not see myself living anywhere near vegas (OK to visit once a year though).
October 5, 2009 at 9:54 AM #464358Participant[quote=temeculaguy]Vegas scares me because I don’t know enough about it and it’s problems seem too large, too much based on tourism.
The I/E is tricky, gotta be picky with regards to communities. There are some opportunities appearing, probably the hardest hit areas are those around March AFB, it never recovered from the base closing or the last downturn. I’ve never actually been there because it’s an armpit and I have no reason to go there but there have been some developments lately that will cause a demand for rentals.
http://nctimes.com/news/local/swcounty/article_889d6fee-4ae3-56f6-98e8-77234209cac6.html
I can’t find the articles but there is also a korean rail car company and a korean household goods company (don’t know what that means, maybe spoons and blenders and walmart crap) that are setting up deals there to manufacture. The closed base area has freight access to LA, OC and SD, plus a cargo airport and is in some foriegn enterprise zone for taxes. I don’t know what it all means other than dirt cheap rentals and bunch of jobs for renter type demographics.
I want to add a grain of salt, the one that has kept me from the lower end neighborhoods and high density rentals. The lowest end jobs are the ones getting beat up the most, the welfare benefits are being reduced and illegal aliens are moving away and self deporting. This means less low end renters, at least it’s a fair argument and one that has me shying away from what are some good numbers.
The low end SD areas, you gotta ask someone else, but they are places that may suffer a similar fate. As a community, it’s not the worst thing in the world to have your poorest pack up in search of greener pastures, but as a landlord, it would suck because they are pretty much the only people that will live there.
I also keep reading stories regarding certain schools and districts that serve primarily spanish speaking students are losing enrollment, it’s a more transient demographic than others, I’m afraid of being left holding the bag if the shift increases.[/quote]
Sorry TG got to go the other way on this issue, It is a lot easier to find someone to rent a place for 700 to 1000 dollars a month than it is to find someone to pay 1500 to 2200 dollars a month as long as the neighbor hood is not too iffy , and Vegas is hopping these days (can’t say why but the streets are overflowing literally), just got back from there, new construction is ongoing and new projects everywhere, (these are very big projects were talking billions involved), But on the other hand I could not see myself living anywhere near vegas (OK to visit once a year though).
October 5, 2009 at 9:54 AM #464429Participant[quote=temeculaguy]Vegas scares me because I don’t know enough about it and it’s problems seem too large, too much based on tourism.
The I/E is tricky, gotta be picky with regards to communities. There are some opportunities appearing, probably the hardest hit areas are those around March AFB, it never recovered from the base closing or the last downturn. I’ve never actually been there because it’s an armpit and I have no reason to go there but there have been some developments lately that will cause a demand for rentals.
http://nctimes.com/news/local/swcounty/article_889d6fee-4ae3-56f6-98e8-77234209cac6.html
I can’t find the articles but there is also a korean rail car company and a korean household goods company (don’t know what that means, maybe spoons and blenders and walmart crap) that are setting up deals there to manufacture. The closed base area has freight access to LA, OC and SD, plus a cargo airport and is in some foriegn enterprise zone for taxes. I don’t know what it all means other than dirt cheap rentals and bunch of jobs for renter type demographics.
I want to add a grain of salt, the one that has kept me from the lower end neighborhoods and high density rentals. The lowest end jobs are the ones getting beat up the most, the welfare benefits are being reduced and illegal aliens are moving away and self deporting. This means less low end renters, at least it’s a fair argument and one that has me shying away from what are some good numbers.
The low end SD areas, you gotta ask someone else, but they are places that may suffer a similar fate. As a community, it’s not the worst thing in the world to have your poorest pack up in search of greener pastures, but as a landlord, it would suck because they are pretty much the only people that will live there.
I also keep reading stories regarding certain schools and districts that serve primarily spanish speaking students are losing enrollment, it’s a more transient demographic than others, I’m afraid of being left holding the bag if the shift increases.[/quote]
Sorry TG got to go the other way on this issue, It is a lot easier to find someone to rent a place for 700 to 1000 dollars a month than it is to find someone to pay 1500 to 2200 dollars a month as long as the neighbor hood is not too iffy , and Vegas is hopping these days (can’t say why but the streets are overflowing literally), just got back from there, new construction is ongoing and new projects everywhere, (these are very big projects were talking billions involved), But on the other hand I could not see myself living anywhere near vegas (OK to visit once a year though).
October 5, 2009 at 9:54 AM #464636Participant[quote=temeculaguy]Vegas scares me because I don’t know enough about it and it’s problems seem too large, too much based on tourism.
The I/E is tricky, gotta be picky with regards to communities. There are some opportunities appearing, probably the hardest hit areas are those around March AFB, it never recovered from the base closing or the last downturn. I’ve never actually been there because it’s an armpit and I have no reason to go there but there have been some developments lately that will cause a demand for rentals.
http://nctimes.com/news/local/swcounty/article_889d6fee-4ae3-56f6-98e8-77234209cac6.html
I can’t find the articles but there is also a korean rail car company and a korean household goods company (don’t know what that means, maybe spoons and blenders and walmart crap) that are setting up deals there to manufacture. The closed base area has freight access to LA, OC and SD, plus a cargo airport and is in some foriegn enterprise zone for taxes. I don’t know what it all means other than dirt cheap rentals and bunch of jobs for renter type demographics.
I want to add a grain of salt, the one that has kept me from the lower end neighborhoods and high density rentals. The lowest end jobs are the ones getting beat up the most, the welfare benefits are being reduced and illegal aliens are moving away and self deporting. This means less low end renters, at least it’s a fair argument and one that has me shying away from what are some good numbers.
The low end SD areas, you gotta ask someone else, but they are places that may suffer a similar fate. As a community, it’s not the worst thing in the world to have your poorest pack up in search of greener pastures, but as a landlord, it would suck because they are pretty much the only people that will live there.
I also keep reading stories regarding certain schools and districts that serve primarily spanish speaking students are losing enrollment, it’s a more transient demographic than others, I’m afraid of being left holding the bag if the shift increases.[/quote]
Sorry TG got to go the other way on this issue, It is a lot easier to find someone to rent a place for 700 to 1000 dollars a month than it is to find someone to pay 1500 to 2200 dollars a month as long as the neighbor hood is not too iffy , and Vegas is hopping these days (can’t say why but the streets are overflowing literally), just got back from there, new construction is ongoing and new projects everywhere, (these are very big projects were talking billions involved), But on the other hand I could not see myself living anywhere near vegas (OK to visit once a year though).
October 5, 2009 at 2:32 PM #463959Diego Mamani
Participant[quote=FormerSanDiegan] As for 350K and 2K rent (…) With 20% down and a 30-year fixed rate of 4.75%, I come up with a total PITI of $1856. That puts you near break even cash flow if it rents for ~ 2000, depending on if you manage it yourself. [/quote]
FSD: Are you considering the opportunity cost of your down payment? Also, I don’t think you can get a fixed rate below 5% for non-owner occupied real estate. If you have only a one-month vacancy, you are looking at some serious losses. Once in a while you’ll need to change carpets or update appliances (assuming nothing major like a new roof is needed).
Finally, appreciation may take a while to come back: you may need to sell due to an unforeseem event, and then find out that after 15 years of paying P&I, repairs, etc., you sell for no more than what you paid.
October 5, 2009 at 2:32 PM #464150Participant[quote=FormerSanDiegan] As for 350K and 2K rent (…) With 20% down and a 30-year fixed rate of 4.75%, I come up with a total PITI of $1856. That puts you near break even cash flow if it rents for ~ 2000, depending on if you manage it yourself. [/quote]
FSD: Are you considering the opportunity cost of your down payment? Also, I don’t think you can get a fixed rate below 5% for non-owner occupied real estate. If you have only a one-month vacancy, you are looking at some serious losses. Once in a while you’ll need to change carpets or update appliances (assuming nothing major like a new roof is needed).
Finally, appreciation may take a while to come back: you may need to sell due to an unforeseem event, and then find out that after 15 years of paying P&I, repairs, etc., you sell for no more than what you paid.
October 5, 2009 at 2:32 PM #464499Participant[quote=FormerSanDiegan] As for 350K and 2K rent (…) With 20% down and a 30-year fixed rate of 4.75%, I come up with a total PITI of $1856. That puts you near break even cash flow if it rents for ~ 2000, depending on if you manage it yourself. [/quote]
FSD: Are you considering the opportunity cost of your down payment? Also, I don’t think you can get a fixed rate below 5% for non-owner occupied real estate. If you have only a one-month vacancy, you are looking at some serious losses. Once in a while you’ll need to change carpets or update appliances (assuming nothing major like a new roof is needed).
Finally, appreciation may take a while to come back: you may need to sell due to an unforeseem event, and then find out that after 15 years of paying P&I, repairs, etc., you sell for no more than what you paid.
October 5, 2009 at 2:32 PM #464571Participant[quote=FormerSanDiegan] As for 350K and 2K rent (…) With 20% down and a 30-year fixed rate of 4.75%, I come up with a total PITI of $1856. That puts you near break even cash flow if it rents for ~ 2000, depending on if you manage it yourself. [/quote]
FSD: Are you considering the opportunity cost of your down payment? Also, I don’t think you can get a fixed rate below 5% for non-owner occupied real estate. If you have only a one-month vacancy, you are looking at some serious losses. Once in a while you’ll need to change carpets or update appliances (assuming nothing major like a new roof is needed).
Finally, appreciation may take a while to come back: you may need to sell due to an unforeseem event, and then find out that after 15 years of paying P&I, repairs, etc., you sell for no more than what you paid.
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