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akbarpunjabi.
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September 2, 2008 at 12:48 PM #265251September 2, 2008 at 12:48 PM #265258
peterb
ParticipantTime to start buying!!! Oh yeah, historically rents dip down in a recession around 5%. Also, unemployment is increasing and a lot more defaults are coming onto the market. Lending standards are getting tighter. This all spells another leg down in the RE market. You may want to check your math on break-even analysis when your asset is decreasing in value? Even if you’re lucking enough to actaully break-even on a cashflow basis, what will your return be if your asset decreases by another 20%?
These are very real possibilities in this market.September 2, 2008 at 12:48 PM #265041ParticipantTime to start buying!!! Oh yeah, historically rents dip down in a recession around 5%. Also, unemployment is increasing and a lot more defaults are coming onto the market. Lending standards are getting tighter. This all spells another leg down in the RE market. You may want to check your math on break-even analysis when your asset is decreasing in value? Even if you’re lucking enough to actaully break-even on a cashflow basis, what will your return be if your asset decreases by another 20%?
These are very real possibilities in this market.September 2, 2008 at 6:49 PM #265177Nor-LA-SD-guy
ParticipantOn a side note, I was down at the Costco in San Marcos.
On Saturday.
They were Literally being cleaned out of 52″ Plasma TV’s. Had to park at the back of the lot and did some Struggling just to park there. All the registers were 4 – 5 deep fully loaded carts for the most part.
And they say that this is a recession ???
Weird I tell you.
September 2, 2008 at 6:49 PM #265487ParticipantOn a side note, I was down at the Costco in San Marcos.
On Saturday.
They were Literally being cleaned out of 52″ Plasma TV’s. Had to park at the back of the lot and did some Struggling just to park there. All the registers were 4 – 5 deep fully loaded carts for the most part.
And they say that this is a recession ???
Weird I tell you.
September 2, 2008 at 6:49 PM #265395ParticipantOn a side note, I was down at the Costco in San Marcos.
On Saturday.
They were Literally being cleaned out of 52″ Plasma TV’s. Had to park at the back of the lot and did some Struggling just to park there. All the registers were 4 – 5 deep fully loaded carts for the most part.
And they say that this is a recession ???
Weird I tell you.
September 2, 2008 at 6:49 PM #265396ParticipantOn a side note, I was down at the Costco in San Marcos.
On Saturday.
They were Literally being cleaned out of 52″ Plasma TV’s. Had to park at the back of the lot and did some Struggling just to park there. All the registers were 4 – 5 deep fully loaded carts for the most part.
And they say that this is a recession ???
Weird I tell you.
September 2, 2008 at 6:49 PM #265453ParticipantOn a side note, I was down at the Costco in San Marcos.
On Saturday.
They were Literally being cleaned out of 52″ Plasma TV’s. Had to park at the back of the lot and did some Struggling just to park there. All the registers were 4 – 5 deep fully loaded carts for the most part.
And they say that this is a recession ???
Weird I tell you.
September 2, 2008 at 8:19 PM #265192PCinSD
GuestRegarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
September 2, 2008 at 8:19 PM #265502GuestRegarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
September 2, 2008 at 8:19 PM #265466GuestRegarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
September 2, 2008 at 8:19 PM #265411GuestRegarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
September 2, 2008 at 8:19 PM #265410GuestRegarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
September 3, 2008 at 11:23 AM #265356NicMM
ParticipantI don’t know where the condo sdrealtor was talking about. But I saw similar situation in Rancho Bernardo. There are several Water Bridge 2bd condos are at low 200k. They were priced over 400k at the peak. With 20% downpay, it could break even. But I thought a break event point at 0% downpay would be more attractive.
September 3, 2008 at 11:23 AM #265570ParticipantI don’t know where the condo sdrealtor was talking about. But I saw similar situation in Rancho Bernardo. There are several Water Bridge 2bd condos are at low 200k. They were priced over 400k at the peak. With 20% downpay, it could break even. But I thought a break event point at 0% downpay would be more attractive.
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