Massive loss in Mira Mesa, purchased $570K, listing at $399K-$450K

[cantab]

Looks like a decent house with some upgrades, but no backyard.

I know someone who has bought a couple of houses in Mira Mesa to rent out as minidorms. He says he knows in which floorplans he can build interior walls to make extra bedrooms, and then he can get positive cashflow at purchase prices from last year.

The students are the hard-working UCSD type, not the party-hearty SDSU type, so the neighbors don’t mind, and he doesn’t add any square footage to the houses

Would this be something profiable to do with this house?

[an]

I’ve been following Mira Mesa very closely and short of getting extreme discounts, I highly down anything can cash flow positive in Mira Mesa. This one comes close but still short by a few hundreds. Also, many houses in Mira Mesa are small with small rooms, so adding walls to make more rooms is a horrible idea i think. But that’s just me.

[an]

I’ve been following Mira Mesa very closely and short of getting extreme discounts, I highly down anything can cash flow positive in Mira Mesa. This one comes close but still short by a few hundreds. Also, many houses in Mira Mesa are small with small rooms, so adding walls to make more rooms is a horrible idea i think. But that’s just me.

[an]

I’ve been following Mira Mesa very closely and short of getting extreme discounts, I highly down anything can cash flow positive in Mira Mesa. This one comes close but still short by a few hundreds. Also, many houses in Mira Mesa are small with small rooms, so adding walls to make more rooms is a horrible idea i think. But that’s just me.

[JPJones]

What’s with the $399,888 bottom end on a bunch of recent price drops? This was the 6th one in the last week.

[JPJones]

What’s with the $399,888 bottom end on a bunch of recent price drops? This was the 6th one in the last week.

[JPJones]

What’s with the $399,888 bottom end on a bunch of recent price drops? This was the 6th one in the last week.

[BuyerWillEPB]

I just drove by a similar case in Mira Mesa the other day too.

It was last bought in ’05 at $564,000.

Now asking $399K – $440K.

The place seemed decent, but a small yard around it.

http://www.sdlookup.com/MLS-076051758-8456_Harlow_Terrace_San_Diego_CA_92126

[BuyerWillEPB]

I just drove by a similar case in Mira Mesa the other day too.

It was last bought in ’05 at $564,000.

Now asking $399K – $440K.

The place seemed decent, but a small yard around it.

http://www.sdlookup.com/MLS-076051758-8456_Harlow_Terrace_San_Diego_CA_92126

[BuyerWillEPB]

I just drove by a similar case in Mira Mesa the other day too.

It was last bought in ’05 at $564,000.

Now asking $399K – $440K.

The place seemed decent, but a small yard around it.

http://www.sdlookup.com/MLS-076051758-8456_Harlow_Terrace_San_Diego_CA_92126

[rb_engineer]

All these are short sales. Lenders will not accept these prices (at least now). I’ve seen listings like this go pending fast and come back many times due to the lender declining…

[rb_engineer]

All these are short sales. Lenders will not accept these prices (at least now). I’ve seen listings like this go pending fast and come back many times due to the lender declining…

[rb_engineer]

All these are short sales. Lenders will not accept these prices (at least now). I’ve seen listings like this go pending fast and come back many times due to the lender declining…

[an]

Here’s another one:
linky
It was bought in ’05 at $542k.
Now asking $399,888 to $449,888.

linky
It was bought in ’06 at $515k.
Now asking $399,888 to $449,888.

linky
It was bought in ’04 at $500k
Now asking $375,000 to $425,000.

[an]

Here’s another one:
linky
It was bought in ’05 at $542k.
Now asking $399,888 to $449,888.

linky
It was bought in ’06 at $515k.
Now asking $399,888 to $449,888.

linky
It was bought in ’04 at $500k
Now asking $375,000 to $425,000.

[Author]

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