Opinions on an investment property

[CA renter]

[quote=cv2][quote=CA renter]I checked those out over a decade ago, IIRC. Though it might be Carlsbad SD, the area is pretty shady. You will not likely get good-quality tenants in there.
[/quote]

What are the criterion that you define as good-quality tenants?

In my rental in CV, I define them as FICO score of over 700 and combined income over $80K/year. I have no trouble finding those renters because I offer below market rent and really good service to them. But for the Oceanside, I would define it as FICO score over 600 and combined income over $40K. Is this realistic?[/quote]

Yes, that sounds pretty realistic, but you could still have problems.

IMHO, a good-quality tenant is a long-term tenant who is clean, well-behaved (no drugs, alcohol issues, or other illegal activities), and who consistently pays the rent on time. It’s a big bonus if they are willing/able to do light maintenance, and if they inform the LL if something is about to give out instead of waiting for it to break altogether. For instance, if the water heater isn’t warming up the water anymore, or if there is a small leak, they tell the LL so he/she can replace it before it leaks all over and floods the entire unit/garage (depending on where it’s located).

Basically, a good tenant is someone you’d like to have living next-door to you and your family.

BTW, a good landlord is one who maintains the property nicely, and who charges just below market rents in order to get the best tenant. In today’s world, a good LL is a long-term owner who isn’t going to sell or be foreclosed on.

[cv2]

I have a question concerning termite damage in a HOA. If the house is a REO and has termite. Who should fix it?

I think it is the HOA. But if the HOA runs out of money and could not afford it, could I force the bank to fix it before closing escrow?

Thanks.

[cv2]

I have a question concerning termite damage in a HOA. If the house is a REO and has termite. Who should fix it?

I think it is the HOA. But if the HOA runs out of money and could not afford it, could I force the bank to fix it before closing escrow?

Thanks.

[cv2]

I have a question concerning termite damage in a HOA. If the house is a REO and has termite. Who should fix it?

I think it is the HOA. But if the HOA runs out of money and could not afford it, could I force the bank to fix it before closing escrow?

Thanks.

[cv2]

I have a question concerning termite damage in a HOA. If the house is a REO and has termite. Who should fix it?

I think it is the HOA. But if the HOA runs out of money and could not afford it, could I force the bank to fix it before closing escrow?

Thanks.

[cv2]

I have a question concerning termite damage in a HOA. If the house is a REO and has termite. Who should fix it?

I think it is the HOA. But if the HOA runs out of money and could not afford it, could I force the bank to fix it before closing escrow?

Thanks.

[cv2]

http://www.sdlookup.com/MLS-090059719-3437_Los_Mochis_Oceanside_CA_92056

Another property is just sold in the complex. The sales history is really interesting:

12/31/2009 $105,000 4y 1m -63% -21%
11/14/2005 $285,000 1y 4m 147% 92%
06/24/2004 $115,303 3y 3m -6% -2%
03/06/2001 $122,500 6y 12m 83% 9%
03/11/1994 $66,900 4y 2m -20% -5%
12/14/1989 $83,500 6m 19% 38%
05/26/1989 $70,000 n/a – –

I do not understand why 2004 price is lower than 2001 and then doubled in 2005. My guess is that the owner could not afford the HOA fee or special assessment and got take over by the HOA.

[cv2]

http://www.sdlookup.com/MLS-090059719-3437_Los_Mochis_Oceanside_CA_92056

Another property is just sold in the complex. The sales history is really interesting:

12/31/2009 $105,000 4y 1m -63% -21%
11/14/2005 $285,000 1y 4m 147% 92%
06/24/2004 $115,303 3y 3m -6% -2%
03/06/2001 $122,500 6y 12m 83% 9%
03/11/1994 $66,900 4y 2m -20% -5%
12/14/1989 $83,500 6m 19% 38%
05/26/1989 $70,000 n/a – –

I do not understand why 2004 price is lower than 2001 and then doubled in 2005. My guess is that the owner could not afford the HOA fee or special assessment and got take over by the HOA.

[cv2]

http://www.sdlookup.com/MLS-090059719-3437_Los_Mochis_Oceanside_CA_92056

Another property is just sold in the complex. The sales history is really interesting:

12/31/2009 $105,000 4y 1m -63% -21%
11/14/2005 $285,000 1y 4m 147% 92%
06/24/2004 $115,303 3y 3m -6% -2%
03/06/2001 $122,500 6y 12m 83% 9%
03/11/1994 $66,900 4y 2m -20% -5%
12/14/1989 $83,500 6m 19% 38%
05/26/1989 $70,000 n/a – –

I do not understand why 2004 price is lower than 2001 and then doubled in 2005. My guess is that the owner could not afford the HOA fee or special assessment and got take over by the HOA.

[cv2]

http://www.sdlookup.com/MLS-090059719-3437_Los_Mochis_Oceanside_CA_92056

Another property is just sold in the complex. The sales history is really interesting:

12/31/2009 $105,000 4y 1m -63% -21%
11/14/2005 $285,000 1y 4m 147% 92%
06/24/2004 $115,303 3y 3m -6% -2%
03/06/2001 $122,500 6y 12m 83% 9%
03/11/1994 $66,900 4y 2m -20% -5%
12/14/1989 $83,500 6m 19% 38%
05/26/1989 $70,000 n/a – –

I do not understand why 2004 price is lower than 2001 and then doubled in 2005. My guess is that the owner could not afford the HOA fee or special assessment and got take over by the HOA.

[cv2]

http://www.sdlookup.com/MLS-090059719-3437_Los_Mochis_Oceanside_CA_92056

Another property is just sold in the complex. The sales history is really interesting:

12/31/2009 $105,000 4y 1m -63% -21%
11/14/2005 $285,000 1y 4m 147% 92%
06/24/2004 $115,303 3y 3m -6% -2%
03/06/2001 $122,500 6y 12m 83% 9%
03/11/1994 $66,900 4y 2m -20% -5%
12/14/1989 $83,500 6m 19% 38%
05/26/1989 $70,000 n/a – –

I do not understand why 2004 price is lower than 2001 and then doubled in 2005. My guess is that the owner could not afford the HOA fee or special assessment and got take over by the HOA.

[Author]

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