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  • April 7, 2009 at 5:33 PM #378201
    Coronita
    Participant

    At the risk of sounding pessimistic…What is the rental situation in UTC these days? I mean it seems like there was a glut of developers building new apartments (for example, the one right of the 805 onramp on La Jolla Village dr/miramar rd entrance). And I see a bunch of for rent signs from condo convert owners.

    Thoughts?

    April 7, 2009 at 5:38 PM #377593
    jpinpb
    Participant

    I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like.

    April 7, 2009 at 5:38 PM #377871
    jpinpb
    Participant

    I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like.

    April 7, 2009 at 5:38 PM #378049
    jpinpb
    Participant

    I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like.

    April 7, 2009 at 5:38 PM #378091
    jpinpb
    Participant

    I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like.

    April 7, 2009 at 5:38 PM #378216
    jpinpb
    Participant

    I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like.

    April 7, 2009 at 9:41 PM #377834
    Scarlett
    Participant

    Davelj, when does it make sense, though, even with those assumptions, to pencil out as an investment?

    [quote=davelj]
    when calculating the interest-only payment I’d use (…) the RATE assuming 20% down (but applied against the entire cost of the house – as if you’re putting zero down). Hope that makes sense. And, this is looking at buy vs. rent, not looking at it as an investment. Just to be clear.
    [/quote]

    Thanks, Dave,that is actually a good and simple way to calculate – using the best rate (at 20%down) but with the loan value = sales/purchase price (like a 100% LTV).

    If you figure out what mortgage payment WOULD be with the assumptions above (the good rate,but the whole purchase price loan), for an investment I guess you want to be at least a couple hundred bucks better off paying that THEORETICAL P&I and HOAs and MRs than rent income – or HOW MUCH MORE? (assume no PMI, because you WILL put 20% down at least). In REALITY, one would put 20% down, on which he would lose any return, even a safe 3%, but get a lower total P&I. Or there isn’t a rough number?

    April 7, 2009 at 9:41 PM #378112
    Scarlett
    Participant

    Davelj, when does it make sense, though, even with those assumptions, to pencil out as an investment?

    [quote=davelj]
    when calculating the interest-only payment I’d use (…) the RATE assuming 20% down (but applied against the entire cost of the house – as if you’re putting zero down). Hope that makes sense. And, this is looking at buy vs. rent, not looking at it as an investment. Just to be clear.
    [/quote]

    Thanks, Dave,that is actually a good and simple way to calculate – using the best rate (at 20%down) but with the loan value = sales/purchase price (like a 100% LTV).

    If you figure out what mortgage payment WOULD be with the assumptions above (the good rate,but the whole purchase price loan), for an investment I guess you want to be at least a couple hundred bucks better off paying that THEORETICAL P&I and HOAs and MRs than rent income – or HOW MUCH MORE? (assume no PMI, because you WILL put 20% down at least). In REALITY, one would put 20% down, on which he would lose any return, even a safe 3%, but get a lower total P&I. Or there isn’t a rough number?

    April 7, 2009 at 9:41 PM #378290
    Scarlett
    Participant

    Davelj, when does it make sense, though, even with those assumptions, to pencil out as an investment?

    [quote=davelj]
    when calculating the interest-only payment I’d use (…) the RATE assuming 20% down (but applied against the entire cost of the house – as if you’re putting zero down). Hope that makes sense. And, this is looking at buy vs. rent, not looking at it as an investment. Just to be clear.
    [/quote]

    Thanks, Dave,that is actually a good and simple way to calculate – using the best rate (at 20%down) but with the loan value = sales/purchase price (like a 100% LTV).

    If you figure out what mortgage payment WOULD be with the assumptions above (the good rate,but the whole purchase price loan), for an investment I guess you want to be at least a couple hundred bucks better off paying that THEORETICAL P&I and HOAs and MRs than rent income – or HOW MUCH MORE? (assume no PMI, because you WILL put 20% down at least). In REALITY, one would put 20% down, on which he would lose any return, even a safe 3%, but get a lower total P&I. Or there isn’t a rough number?

    April 7, 2009 at 9:41 PM #378332
    Scarlett
    Participant

    Davelj, when does it make sense, though, even with those assumptions, to pencil out as an investment?

    [quote=davelj]
    when calculating the interest-only payment I’d use (…) the RATE assuming 20% down (but applied against the entire cost of the house – as if you’re putting zero down). Hope that makes sense. And, this is looking at buy vs. rent, not looking at it as an investment. Just to be clear.
    [/quote]

    Thanks, Dave,that is actually a good and simple way to calculate – using the best rate (at 20%down) but with the loan value = sales/purchase price (like a 100% LTV).

    If you figure out what mortgage payment WOULD be with the assumptions above (the good rate,but the whole purchase price loan), for an investment I guess you want to be at least a couple hundred bucks better off paying that THEORETICAL P&I and HOAs and MRs than rent income – or HOW MUCH MORE? (assume no PMI, because you WILL put 20% down at least). In REALITY, one would put 20% down, on which he would lose any return, even a safe 3%, but get a lower total P&I. Or there isn’t a rough number?

    April 7, 2009 at 9:41 PM #378459
    Scarlett
    Participant

    Davelj, when does it make sense, though, even with those assumptions, to pencil out as an investment?

    [quote=davelj]
    when calculating the interest-only payment I’d use (…) the RATE assuming 20% down (but applied against the entire cost of the house – as if you’re putting zero down). Hope that makes sense. And, this is looking at buy vs. rent, not looking at it as an investment. Just to be clear.
    [/quote]

    Thanks, Dave,that is actually a good and simple way to calculate – using the best rate (at 20%down) but with the loan value = sales/purchase price (like a 100% LTV).

    If you figure out what mortgage payment WOULD be with the assumptions above (the good rate,but the whole purchase price loan), for an investment I guess you want to be at least a couple hundred bucks better off paying that THEORETICAL P&I and HOAs and MRs than rent income – or HOW MUCH MORE? (assume no PMI, because you WILL put 20% down at least). In REALITY, one would put 20% down, on which he would lose any return, even a safe 3%, but get a lower total P&I. Or there isn’t a rough number?

    April 7, 2009 at 9:43 PM #377844
    Scarlett
    Participant

    [quote=jpinpb]I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like. [/quote]
    What complex were you in?

    April 7, 2009 at 9:43 PM #378123
    Scarlett
    Participant

    [quote=jpinpb]I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like. [/quote]
    What complex were you in?

    April 7, 2009 at 9:43 PM #378300
    Scarlett
    Participant

    [quote=jpinpb]I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like. [/quote]
    What complex were you in?

    April 7, 2009 at 9:43 PM #378342
    Scarlett
    Participant

    [quote=jpinpb]I moved out of UTC in January. But I can tell you that while I lived in Renaissance the turnover was very high. I mean, every few months people were coming and going. I’m sorry that I can’t tell you now, but a few short months ago, that’s what it was like. [/quote]
    What complex were you in?

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