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barnaby33.
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January 20, 2009 at 11:42 PM #332547January 21, 2009 at 12:01 AM #332755
patientlywaiting
Participant[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.
Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.
Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.
[/quote]
I don’t see the big deal.
Such shenanigans have been going on for ages so that’s nothing new.
You don’t know if it’ll work unless you try.
January 21, 2009 at 12:01 AM #332642Participant[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.
Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.
Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.
[/quote]
I don’t see the big deal.
Such shenanigans have been going on for ages so that’s nothing new.
You don’t know if it’ll work unless you try.
January 21, 2009 at 12:01 AM #332669Participant[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.
Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.
Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.
[/quote]
I don’t see the big deal.
Such shenanigans have been going on for ages so that’s nothing new.
You don’t know if it’ll work unless you try.
January 21, 2009 at 12:01 AM #332562Participant[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.
Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.
Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.
[/quote]
I don’t see the big deal.
Such shenanigans have been going on for ages so that’s nothing new.
You don’t know if it’ll work unless you try.
January 21, 2009 at 12:01 AM #332229Participant[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.
Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.
Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.
[/quote]
I don’t see the big deal.
Such shenanigans have been going on for ages so that’s nothing new.
You don’t know if it’ll work unless you try.
January 21, 2009 at 8:20 AM #332688(former)FormerSanDiegan
ParticipantI don’t think we can offer a complete opinion without additional details as DWCAP suggested.
1. How much do these units rent for ?
2. How much do you owe ?
3. WHat is the interest rate on your loan ?
4. WHat are the HOA fees ?January 21, 2009 at 8:20 AM #332718ParticipantI don’t think we can offer a complete opinion without additional details as DWCAP suggested.
1. How much do these units rent for ?
2. How much do you owe ?
3. WHat is the interest rate on your loan ?
4. WHat are the HOA fees ?January 21, 2009 at 8:20 AM #332803ParticipantI don’t think we can offer a complete opinion without additional details as DWCAP suggested.
1. How much do these units rent for ?
2. How much do you owe ?
3. WHat is the interest rate on your loan ?
4. WHat are the HOA fees ?January 21, 2009 at 8:20 AM #332275ParticipantI don’t think we can offer a complete opinion without additional details as DWCAP suggested.
1. How much do these units rent for ?
2. How much do you owe ?
3. WHat is the interest rate on your loan ?
4. WHat are the HOA fees ?January 21, 2009 at 8:20 AM #332611ParticipantI don’t think we can offer a complete opinion without additional details as DWCAP suggested.
1. How much do these units rent for ?
2. How much do you owe ?
3. WHat is the interest rate on your loan ?
4. WHat are the HOA fees ?January 21, 2009 at 8:31 AM #332616Participant… But here’s a stab:
Rents for 2BR/2Ba apartments in Clairemont can be between 1100 to 1400.
If you owe less than 180K at 6% or less (or owe less than 200K can refinance these days at rates around 5%), then you can start making a case for renting it out if you can get 1300 – 1400 in rent. You will be reasonably cash flow neutral at that point, accounting for tax benefits and principal paydown. BUt will have out-of-pocket expenses if you use a management company and for any repairs.
But again, this in only a guess without the actual numbers.
If you can rent these out at 1300-1400 and purchase for under 200K, it might start making sense for self-managed investors as long as investor owned rates are in the 6% or less range.
January 21, 2009 at 8:31 AM #332808Participant… But here’s a stab:
Rents for 2BR/2Ba apartments in Clairemont can be between 1100 to 1400.
If you owe less than 180K at 6% or less (or owe less than 200K can refinance these days at rates around 5%), then you can start making a case for renting it out if you can get 1300 – 1400 in rent. You will be reasonably cash flow neutral at that point, accounting for tax benefits and principal paydown. BUt will have out-of-pocket expenses if you use a management company and for any repairs.
But again, this in only a guess without the actual numbers.
If you can rent these out at 1300-1400 and purchase for under 200K, it might start making sense for self-managed investors as long as investor owned rates are in the 6% or less range.
January 21, 2009 at 8:31 AM #332280Participant… But here’s a stab:
Rents for 2BR/2Ba apartments in Clairemont can be between 1100 to 1400.
If you owe less than 180K at 6% or less (or owe less than 200K can refinance these days at rates around 5%), then you can start making a case for renting it out if you can get 1300 – 1400 in rent. You will be reasonably cash flow neutral at that point, accounting for tax benefits and principal paydown. BUt will have out-of-pocket expenses if you use a management company and for any repairs.
But again, this in only a guess without the actual numbers.
If you can rent these out at 1300-1400 and purchase for under 200K, it might start making sense for self-managed investors as long as investor owned rates are in the 6% or less range.
January 21, 2009 at 8:31 AM #332694Participant… But here’s a stab:
Rents for 2BR/2Ba apartments in Clairemont can be between 1100 to 1400.
If you owe less than 180K at 6% or less (or owe less than 200K can refinance these days at rates around 5%), then you can start making a case for renting it out if you can get 1300 – 1400 in rent. You will be reasonably cash flow neutral at that point, accounting for tax benefits and principal paydown. BUt will have out-of-pocket expenses if you use a management company and for any repairs.
But again, this in only a guess without the actual numbers.
If you can rent these out at 1300-1400 and purchase for under 200K, it might start making sense for self-managed investors as long as investor owned rates are in the 6% or less range.
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