Home › Forums › Closed Forums › Properties or Areas › Mira Mesa – 7510 Bannister Ln – 10%+ loss in less than one year
- This topic has 181 replies, 18 voices, and was last updated 9 years ago by
an.
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March 7, 2012 at 1:19 PM #739483March 7, 2012 at 8:57 PM #739516
svelteParticipantWife and I have eaten at that Jersey Mike’s in RB a couple of times. People kept telling us how great it was.
Maybe they built it up too much in our mind or maybe we didn’t order the right thing on the menu, but it didn’t seem to be anything special to us. Not bad, just not standout.
March 8, 2012 at 1:05 PM #739580briansd1
GuestI didn’t even know what Jersey Mike was. Now I know.
March 8, 2012 at 1:14 PM #739581sdrealtor
ParticipantAgree its not a standout. I cant find any sub shop in Socal I consider stand out quality compared to what i got back east. However, for the sub chains they are tops around here. Certainly a major step up from Subway.
March 8, 2012 at 2:18 PM #739588Wah-Wah
Participant[quote=Wah-Wah]flu & et al
how does this one $425k (+$100HOA) in RP compare to MM ?
http://www.redfin.com/CA/San-Diego/11189-Avenida-De-Los-Lobos-92127/home/4669447%5B/quote%5Dpoof… it’s gone ( I mean off the market 🙂 )
March 8, 2012 at 3:16 PM #739591Participantof course it is. If someone walked into a food court and left a stack of 300 $100 bills sitting on a table unattended how long do you think it would sit there?
March 19, 2012 at 10:43 AM #740214adieu
Participant[quote=sdrealtor]of course it is. If someone walked into a food court and left a stack of 300 $100 bills sitting on a table unattended how long do you think it would sit there?[/quote]
It’s probably a good social experiment to perform 🙂
March 19, 2012 at 10:47 AM #740216
CoronitaParticipant[quote=adieu][quote=sdrealtor]of course it is. If someone walked into a food court and left a stack of 300 $100 bills sitting on a table unattended how long do you think it would sit there?[/quote]
It’s probably a good social experiment to perform :)[/quote]
No need to perform that social experiment.
I left two laptops and two smartphones on my office desk.
Someone broke into our office twice during office hours when everyone was working, and took them right out, while was in the the middle of building software for them… (The machines were still building Android Ice Cream Sandwich)….March 19, 2012 at 11:12 AM #740218an
Participant[quote=adieu][quote=sdrealtor]of course it is. If someone walked into a food court and left a stack of 300 $100 bills sitting on a table unattended how long do you think it would sit there?[/quote]
It’s probably a good social experiment to perform :)[/quote]
Tell me where you’ll be conducting that experiment and I’ll make sure I’ll be there in an unmarked car and in ski mask :-D.March 20, 2012 at 1:38 PM #740283CoronitaParticipant[quote=bearishgurl][quote=flu]Ok… enough is enough…I need to get out and take care of real real estate now… [/quote]
Good Luck, flu (I MEAN that)! Hope you can find a “decent” 1/1 which cash-flows every day, all day and will promptly be able to insert a “W-2” tenant in it (who, of course, works at a company that meets with your approval).
And don’t forget, caveat emptor as it applies to HOAs and condo construction!
Sayonara ;=][/quote]
Bump…
Just an update, as I promised.
1. 1/1 has been acquired….
2. Closed on a lease this week… $1200/month, as expected.
FWIW: In a window of 10 days, there were a total of 17 applicants.
10 were from tech companies (of which 6 were from one specific big tech company),
4 from biotech,
3 with section 8 vouchers.Most people offered full price (section 8 people were below asking price)…
Some applicants were relocating from orange county, and others were relatively new hires in local companies.
From the looks of things, hiring has picked up in Sorrento Valley..
March 20, 2012 at 4:10 PM #740289Participant[quote=flu]
Bump…
Just an update, as I promised.
1. 1/1 has been acquired….
2. Closed on a lease this week… $1200/month, as expected.
FWIW: In a window of 10 days, there were a total of 17 applicants.
10 were from tech companies (of which 6 were from one specific big tech company),
4 from biotech,
3 with section 8 vouchers.Most people offered full price (section 8 people were below asking price)…
Some applicants were relocating from orange county, and others were relatively new hires in local companies.
From the looks of things, hiring has picked up in Sorrento Valley..[/quote]
congrad flu. Now what’s you going to do with the extra cash 🙂
it’s also comforting to hear that tech jobs are pickup.
March 22, 2012 at 1:18 PM #740368GuestHere’s a Mira Mesa REO that will be listed soon, for you guys who are interested in the neighborhood.
Looks like the previous owner bought in 1984 for $58,000 and succumbed to the equity extraction craze.
March 22, 2012 at 1:20 PM #740369Guest[quote=flu]
1. 1/1 has been acquired….
[/quote]Did you pay cash for the condo using equity from your primary, as you said you were considering doing?
March 22, 2012 at 1:30 PM #740371bearishgurl
Participant[quote=briansd1]Here’s a Mira Mesa REO that will be listed soon, for you guys who are interested in the neighborhood.
Looks like the previous owner bought in 1984 for $58,000 and succumbed to the equity extraction craze.[/quote]
This is a dirty shame, brian. It could have been paid off by now.
I’ve known two other individuals who bought cheaply in the eighties and subsequently “lived off their equity” that is, until the (borrowing) party was over.
Both single moms, now late 50’s living with roommates in crowded houses. Both now have grown kids but lost their homes to FNMA, just like in this instance.
I find this absolute folly because neither will ever be able to recover from their (former) stupidity. Neither of their original PITI’s was higher than rent at the time … even at an 8.5%+ interest rate!
March 22, 2012 at 1:36 PM #740372CoronitaParticipant[quote=briansd1][quote=flu]
1. 1/1 has been acquired….
[/quote]Did you pay cash for the condo using equity from your primary, as you said you were considering doing?[/quote]
No, used cash from selling stock…I’m in the process of refinancing and getting a heloc to take cash back out of my primary. Going to use the extra mortgage interest deduction on schedule A and the heloc interest on schedule E, and have those offset rental income.
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