Home › Forums › Closed Forums › Properties or Areas › Lucera Condo – $199k
- This topic has 426 replies, 24 voices, and was last updated 14 years, 6 months ago by
briansd1.
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June 28, 2009 at 4:56 PM #421939June 28, 2009 at 4:56 PM #422100
PadreBrian
Participant[quote=sunny88]The problem is that you need to come up with $150k in cash. Even if you finance 70% of the purchase price you can break even and wait until the prices go up again. The prices have increased slightly over the last few months and should improve further over the next few years.[/quote]
Looking at the numbers, even at 70% down, after business expense write-offs, you can still make money.
Rental income: +1200
HOA + Ins: -300
Maintenance: -200
Mortgage: -600
Deductions: +200 to 300Net: +400 to 500 a month.
June 28, 2009 at 5:07 PM #421377sunny88
ParticipantYou forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.
June 28, 2009 at 5:07 PM #421608ParticipantYou forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.
June 28, 2009 at 5:07 PM #421881ParticipantYou forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.
June 28, 2009 at 5:07 PM #421949ParticipantYou forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.
June 28, 2009 at 5:07 PM #422110ParticipantYou forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.
June 29, 2009 at 12:08 AM #421472equalizer
Participant[quote=briansd1]jpinpb has done an excellent job tracking this complex.
$150,000 is the max I would pay in this complex…. And some folk claimed that “low” prices get bid up….
http://www.sdlookup.com/MLS-090018560-7180_Shoreline_Dr_5102_San_Diego_CA_92122
Yes 150K is not too bad. However, the 2B/2B are still in 270K range, a big spread. Always believed that 1B/1B are dangerous and this complex just confirms that notion.
June 29, 2009 at 12:08 AM #421703Participant[quote=briansd1]jpinpb has done an excellent job tracking this complex.
$150,000 is the max I would pay in this complex…. And some folk claimed that “low” prices get bid up….
http://www.sdlookup.com/MLS-090018560-7180_Shoreline_Dr_5102_San_Diego_CA_92122
Yes 150K is not too bad. However, the 2B/2B are still in 270K range, a big spread. Always believed that 1B/1B are dangerous and this complex just confirms that notion.
June 29, 2009 at 12:08 AM #421976Participant[quote=briansd1]jpinpb has done an excellent job tracking this complex.
$150,000 is the max I would pay in this complex…. And some folk claimed that “low” prices get bid up….
http://www.sdlookup.com/MLS-090018560-7180_Shoreline_Dr_5102_San_Diego_CA_92122
Yes 150K is not too bad. However, the 2B/2B are still in 270K range, a big spread. Always believed that 1B/1B are dangerous and this complex just confirms that notion.
June 29, 2009 at 12:08 AM #422044Participant[quote=briansd1]jpinpb has done an excellent job tracking this complex.
$150,000 is the max I would pay in this complex…. And some folk claimed that “low” prices get bid up….
http://www.sdlookup.com/MLS-090018560-7180_Shoreline_Dr_5102_San_Diego_CA_92122
Yes 150K is not too bad. However, the 2B/2B are still in 270K range, a big spread. Always believed that 1B/1B are dangerous and this complex just confirms that notion.
June 29, 2009 at 12:08 AM #422205Participant[quote=briansd1]jpinpb has done an excellent job tracking this complex.
$150,000 is the max I would pay in this complex…. And some folk claimed that “low” prices get bid up….
http://www.sdlookup.com/MLS-090018560-7180_Shoreline_Dr_5102_San_Diego_CA_92122
Yes 150K is not too bad. However, the 2B/2B are still in 270K range, a big spread. Always believed that 1B/1B are dangerous and this complex just confirms that notion.
June 29, 2009 at 12:38 AM #421482Participant[quote=sunny88]You forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.[/quote]
TY!
Prop tax: -150 a month.
June 29, 2009 at 12:38 AM #421713Participant[quote=sunny88]You forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.[/quote]
TY!
Prop tax: -150 a month.
June 29, 2009 at 12:38 AM #421986Participant[quote=sunny88]You forgot the property tax and possible vacancy (min. 1/12th). The bottom line is that somebody else is paying your mortgage and expenses while you’re waiting for the appreciation of the property.[/quote]
TY!
Prop tax: -150 a month.
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