Home › Forums › Financial Markets/Economics › Buying a small condo in UTC as an investment?
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April 7, 2009 at 5:33 PM #378201April 7, 2009 at 5:38 PM #377593
jpinpb
ParticipantI 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 #377871ParticipantI 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 #378049ParticipantI 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 #378091ParticipantI 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 #378216ParticipantI 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 #377834Scarlett
ParticipantDavelj, 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 #378112ParticipantDavelj, 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 #378290ParticipantDavelj, 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 #378332ParticipantDavelj, 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 #378459ParticipantDavelj, 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 #377844Participant[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 #378123Participant[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 #378300Participant[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 #378342Participant[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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