Home › Forums › Closed Forums › Properties or Areas › Lucera Condo – $199k
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briansd1.
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June 29, 2009 at 11:56 AM #422299June 29, 2009 at 11:56 AM #422461
sunny88
ParticipantI agree. Current prices make these condos very attractive as an investment.
June 29, 2009 at 1:07 PM #421778SmellsFeeshy
Participant[quote=PadreBrian][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.
[/quote]
I think Sunny88 was saying that it would be break even at 70% financing (i.e. 30% down), not 70% down.
In any case, this is all moot as I understand because of the lawsuit you have to pay 100% cash at Lucera anyways.
June 29, 2009 at 1:07 PM #422007Participant[quote=PadreBrian][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.
[/quote]
I think Sunny88 was saying that it would be break even at 70% financing (i.e. 30% down), not 70% down.
In any case, this is all moot as I understand because of the lawsuit you have to pay 100% cash at Lucera anyways.
June 29, 2009 at 1:07 PM #422281Participant[quote=PadreBrian][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.
[/quote]
I think Sunny88 was saying that it would be break even at 70% financing (i.e. 30% down), not 70% down.
In any case, this is all moot as I understand because of the lawsuit you have to pay 100% cash at Lucera anyways.
June 29, 2009 at 1:07 PM #422349Participant[quote=PadreBrian][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.
[/quote]
I think Sunny88 was saying that it would be break even at 70% financing (i.e. 30% down), not 70% down.
In any case, this is all moot as I understand because of the lawsuit you have to pay 100% cash at Lucera anyways.
June 29, 2009 at 1:07 PM #422511Participant[quote=PadreBrian][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.
[/quote]
I think Sunny88 was saying that it would be break even at 70% financing (i.e. 30% down), not 70% down.
In any case, this is all moot as I understand because of the lawsuit you have to pay 100% cash at Lucera anyways.
June 29, 2009 at 1:29 PM #421793ParticipantDo you have any specific info about the lawsuit? Are all owners involved?
June 29, 2009 at 1:29 PM #422022ParticipantDo you have any specific info about the lawsuit? Are all owners involved?
June 29, 2009 at 1:29 PM #422296ParticipantDo you have any specific info about the lawsuit? Are all owners involved?
June 29, 2009 at 1:29 PM #422364ParticipantDo you have any specific info about the lawsuit? Are all owners involved?
June 29, 2009 at 1:29 PM #422526ParticipantDo you have any specific info about the lawsuit? Are all owners involved?
June 29, 2009 at 2:10 PM #421808ParticipantJune 29, 2009 at 2:10 PM #422037ParticipantJune 29, 2009 at 2:10 PM #422311Participant -
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