- This topic has 25 replies, 5 voices, and was last updated 17 years, 3 months ago by
Eugene.
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December 17, 2007 at 10:10 AM #119223December 18, 2007 at 3:24 PM #120023
equalizer
ParticipantWith AAA, my policy coverage has gone from $125/SF to $155/SF in last four years. AAA supposedly only company to cover all losses, even the underinsured. Guess they can afford to because of limited # of policies and stricter underwriting.
December 18, 2007 at 3:24 PM #120159equalizer
ParticipantWith AAA, my policy coverage has gone from $125/SF to $155/SF in last four years. AAA supposedly only company to cover all losses, even the underinsured. Guess they can afford to because of limited # of policies and stricter underwriting.
December 18, 2007 at 3:24 PM #120190equalizer
ParticipantWith AAA, my policy coverage has gone from $125/SF to $155/SF in last four years. AAA supposedly only company to cover all losses, even the underinsured. Guess they can afford to because of limited # of policies and stricter underwriting.
December 18, 2007 at 3:24 PM #120259equalizer
ParticipantWith AAA, my policy coverage has gone from $125/SF to $155/SF in last four years. AAA supposedly only company to cover all losses, even the underinsured. Guess they can afford to because of limited # of policies and stricter underwriting.
December 18, 2007 at 3:24 PM #120236equalizer
ParticipantWith AAA, my policy coverage has gone from $125/SF to $155/SF in last four years. AAA supposedly only company to cover all losses, even the underinsured. Guess they can afford to because of limited # of policies and stricter underwriting.
December 18, 2007 at 4:18 PM #120293Eugene
ParticipantLet’s start putting some numbers together.
Current asking rates for Hard Rock Hotel studios are ~$300/night (high end of the spectrum for Gaslamp). They probably get 50%. 4500/month cash flow assuming full occupancy. This income is taxable (let’s say 25% tax bracket). They have to pay property tax ($500/month) and possibly some sort of association fee. This leaves them with
$2500-2800 per month after tax. They have to pay $1700/month mortgage (not tax deductible), and they forego ~$900/month income (after-tax) they could have had if they took their 300k and put it on a 5% CD.They will roughly break even if hotel can maintain full occupancy at those prices.
Appreciation/depreciation is a more difficult question. I can’t find any resale listings for Hard Rock condos. Ultimately resale prices will depend on how profitable those places really are.
December 18, 2007 at 4:18 PM #120274Eugene
ParticipantLet’s start putting some numbers together.
Current asking rates for Hard Rock Hotel studios are ~$300/night (high end of the spectrum for Gaslamp). They probably get 50%. 4500/month cash flow assuming full occupancy. This income is taxable (let’s say 25% tax bracket). They have to pay property tax ($500/month) and possibly some sort of association fee. This leaves them with
$2500-2800 per month after tax. They have to pay $1700/month mortgage (not tax deductible), and they forego ~$900/month income (after-tax) they could have had if they took their 300k and put it on a 5% CD.They will roughly break even if hotel can maintain full occupancy at those prices.
Appreciation/depreciation is a more difficult question. I can’t find any resale listings for Hard Rock condos. Ultimately resale prices will depend on how profitable those places really are.
December 18, 2007 at 4:18 PM #120225Eugene
ParticipantLet’s start putting some numbers together.
Current asking rates for Hard Rock Hotel studios are ~$300/night (high end of the spectrum for Gaslamp). They probably get 50%. 4500/month cash flow assuming full occupancy. This income is taxable (let’s say 25% tax bracket). They have to pay property tax ($500/month) and possibly some sort of association fee. This leaves them with
$2500-2800 per month after tax. They have to pay $1700/month mortgage (not tax deductible), and they forego ~$900/month income (after-tax) they could have had if they took their 300k and put it on a 5% CD.They will roughly break even if hotel can maintain full occupancy at those prices.
Appreciation/depreciation is a more difficult question. I can’t find any resale listings for Hard Rock condos. Ultimately resale prices will depend on how profitable those places really are.
December 18, 2007 at 4:18 PM #120194Eugene
ParticipantLet’s start putting some numbers together.
Current asking rates for Hard Rock Hotel studios are ~$300/night (high end of the spectrum for Gaslamp). They probably get 50%. 4500/month cash flow assuming full occupancy. This income is taxable (let’s say 25% tax bracket). They have to pay property tax ($500/month) and possibly some sort of association fee. This leaves them with
$2500-2800 per month after tax. They have to pay $1700/month mortgage (not tax deductible), and they forego ~$900/month income (after-tax) they could have had if they took their 300k and put it on a 5% CD.They will roughly break even if hotel can maintain full occupancy at those prices.
Appreciation/depreciation is a more difficult question. I can’t find any resale listings for Hard Rock condos. Ultimately resale prices will depend on how profitable those places really are.
December 18, 2007 at 4:18 PM #120059Eugene
ParticipantLet’s start putting some numbers together.
Current asking rates for Hard Rock Hotel studios are ~$300/night (high end of the spectrum for Gaslamp). They probably get 50%. 4500/month cash flow assuming full occupancy. This income is taxable (let’s say 25% tax bracket). They have to pay property tax ($500/month) and possibly some sort of association fee. This leaves them with
$2500-2800 per month after tax. They have to pay $1700/month mortgage (not tax deductible), and they forego ~$900/month income (after-tax) they could have had if they took their 300k and put it on a 5% CD.They will roughly break even if hotel can maintain full occupancy at those prices.
Appreciation/depreciation is a more difficult question. I can’t find any resale listings for Hard Rock condos. Ultimately resale prices will depend on how profitable those places really are.
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