Real estate addiction

[UCGal]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]

I’ve been looking at multi-family units… so far only 2 listings have penciled out – both were short sales – and there were SWARMS of potential buyers when we went to look at them. It was like a freeway of traffic of people going to look at them. We overheard conversations about how much above list to offer… We didn’t think we’d survive the bidding war with a price that cash-flowed -so we backed off.

So, I’d consider myself in the camp of interested in investment property, actively looking, but not buying at current prices.

There are a lot of knife catchers out there. I’ve been AMAZED at how high some of these places go for given the rents. I don’t know what people are thinking.

[an]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
Seeking investment properties is not the same as going out and buying any house on the market today. If I can buy a SFR in MM that rents for $1700/month today at $200k-250k, I’d jump on that in a heart beat.

[an]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
Seeking investment properties is not the same as going out and buying any house on the market today. If I can buy a SFR in MM that rents for $1700/month today at $200k-250k, I’d jump on that in a heart beat.

[an]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
Seeking investment properties is not the same as going out and buying any house on the market today. If I can buy a SFR in MM that rents for $1700/month today at $200k-250k, I’d jump on that in a heart beat.

[an]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
Seeking investment properties is not the same as going out and buying any house on the market today. If I can buy a SFR in MM that rents for $1700/month today at $200k-250k, I’d jump on that in a heart beat.

[an]

[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)

Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
Seeking investment properties is not the same as going out and buying any house on the market today. If I can buy a SFR in MM that rents for $1700/month today at $200k-250k, I’d jump on that in a heart beat.

[sdcellar]

Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.

[sdcellar]

Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.

[sdcellar]

Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.

[sdcellar]

Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.

[sdcellar]

Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.

[an]

[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.

With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.

[an]

[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.

With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.

[an]

[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.

With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.

[an]

[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.

With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.

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