This market has some real fundamental issues!

[peterb]

Rustico – I’ve done multi-family, SFR’s and condo’s. Mostly higher-end locations and above $700K. I’ve never been much for landlording, but I’ve done a bit of it when the places seemed like they had very good upside if held for more than a year or two.
The low-end of the market has never been my thing, but that looks to be where money is being made right now. This is causing me to take a closer look at the homes in this price level to see if there’s a profit to be made.
What have you been seeing out there?

[NotCranky]

Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.

I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.

I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)

Many low end condos cashflow, condos are not interesting to me now.

Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.

[NotCranky]

Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.

I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.

I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)

Many low end condos cashflow, condos are not interesting to me now.

Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.

[NotCranky]

Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.

I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.

I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)

Many low end condos cashflow, condos are not interesting to me now.

Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.

[NotCranky]

Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.

I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.

I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)

Many low end condos cashflow, condos are not interesting to me now.

Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.

[NotCranky]

Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.

I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.

I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)

Many low end condos cashflow, condos are not interesting to me now.

Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.

[lonestar2000]

socrattt you’re not completely off base, not in the least, there is no short-term end in sight for this correction that is engulfing the entire planet. The rules of cause in effect are ever proving their point, the decoupling myth is so quickly proving itself wrong it is not even funny.

We have a perfect storm that has been brewing ever since Nixon nixed (pun intended) the gold standard and all the levereging built up since then is unwinding.

Hell hath no fury…as they say, and payback is a b*tch. Revenge is a dish best served cold, and it is very cold in space. Ok, enough quotes…

The point is, not until all the inbalances come back into balance will this be done, and we’re barely in the 2nd inning in this ballgame.

Nobody is saying that you’ll be able to pick up a home for $100, although in some places of the country you can do just that right now, but they WILL correct to a level that is in line of earnings and prices people can afford in this market of a rapidly disappearing credit pool and tightening loan standards. As it was pointed out, those who have cash reserves will be able to pick up some real bargains, and those who used up their reserves to survive a job loss will be left renting until they have 20% to put down.

I’m not a doom and gloomer, but I AM a realist, and anyone can only guess how much the markets will correct this time around and how much it will overshoot on its way down. I have no need for a tinsel hat, but I do believe that we’re not out of the woods quite yet.

[lonestar2000]

socrattt you’re not completely off base, not in the least, there is no short-term end in sight for this correction that is engulfing the entire planet. The rules of cause in effect are ever proving their point, the decoupling myth is so quickly proving itself wrong it is not even funny.

We have a perfect storm that has been brewing ever since Nixon nixed (pun intended) the gold standard and all the levereging built up since then is unwinding.

Hell hath no fury…as they say, and payback is a b*tch. Revenge is a dish best served cold, and it is very cold in space. Ok, enough quotes…

The point is, not until all the inbalances come back into balance will this be done, and we’re barely in the 2nd inning in this ballgame.

Nobody is saying that you’ll be able to pick up a home for $100, although in some places of the country you can do just that right now, but they WILL correct to a level that is in line of earnings and prices people can afford in this market of a rapidly disappearing credit pool and tightening loan standards. As it was pointed out, those who have cash reserves will be able to pick up some real bargains, and those who used up their reserves to survive a job loss will be left renting until they have 20% to put down.

I’m not a doom and gloomer, but I AM a realist, and anyone can only guess how much the markets will correct this time around and how much it will overshoot on its way down. I have no need for a tinsel hat, but I do believe that we’re not out of the woods quite yet.

[lonestar2000]

socrattt you’re not completely off base, not in the least, there is no short-term end in sight for this correction that is engulfing the entire planet. The rules of cause in effect are ever proving their point, the decoupling myth is so quickly proving itself wrong it is not even funny.

We have a perfect storm that has been brewing ever since Nixon nixed (pun intended) the gold standard and all the levereging built up since then is unwinding.

Hell hath no fury…as they say, and payback is a b*tch. Revenge is a dish best served cold, and it is very cold in space. Ok, enough quotes…

The point is, not until all the inbalances come back into balance will this be done, and we’re barely in the 2nd inning in this ballgame.

Nobody is saying that you’ll be able to pick up a home for $100, although in some places of the country you can do just that right now, but they WILL correct to a level that is in line of earnings and prices people can afford in this market of a rapidly disappearing credit pool and tightening loan standards. As it was pointed out, those who have cash reserves will be able to pick up some real bargains, and those who used up their reserves to survive a job loss will be left renting until they have 20% to put down.

I’m not a doom and gloomer, but I AM a realist, and anyone can only guess how much the markets will correct this time around and how much it will overshoot on its way down. I have no need for a tinsel hat, but I do believe that we’re not out of the woods quite yet.

[lonestar2000]

socrattt you’re not completely off base, not in the least, there is no short-term end in sight for this correction that is engulfing the entire planet. The rules of cause in effect are ever proving their point, the decoupling myth is so quickly proving itself wrong it is not even funny.

We have a perfect storm that has been brewing ever since Nixon nixed (pun intended) the gold standard and all the levereging built up since then is unwinding.

Hell hath no fury…as they say, and payback is a b*tch. Revenge is a dish best served cold, and it is very cold in space. Ok, enough quotes…

The point is, not until all the inbalances come back into balance will this be done, and we’re barely in the 2nd inning in this ballgame.

Nobody is saying that you’ll be able to pick up a home for $100, although in some places of the country you can do just that right now, but they WILL correct to a level that is in line of earnings and prices people can afford in this market of a rapidly disappearing credit pool and tightening loan standards. As it was pointed out, those who have cash reserves will be able to pick up some real bargains, and those who used up their reserves to survive a job loss will be left renting until they have 20% to put down.

I’m not a doom and gloomer, but I AM a realist, and anyone can only guess how much the markets will correct this time around and how much it will overshoot on its way down. I have no need for a tinsel hat, but I do believe that we’re not out of the woods quite yet.

[lonestar2000]

socrattt you’re not completely off base, not in the least, there is no short-term end in sight for this correction that is engulfing the entire planet. The rules of cause in effect are ever proving their point, the decoupling myth is so quickly proving itself wrong it is not even funny.

We have a perfect storm that has been brewing ever since Nixon nixed (pun intended) the gold standard and all the levereging built up since then is unwinding.

Hell hath no fury…as they say, and payback is a b*tch. Revenge is a dish best served cold, and it is very cold in space. Ok, enough quotes…

The point is, not until all the inbalances come back into balance will this be done, and we’re barely in the 2nd inning in this ballgame.

Nobody is saying that you’ll be able to pick up a home for $100, although in some places of the country you can do just that right now, but they WILL correct to a level that is in line of earnings and prices people can afford in this market of a rapidly disappearing credit pool and tightening loan standards. As it was pointed out, those who have cash reserves will be able to pick up some real bargains, and those who used up their reserves to survive a job loss will be left renting until they have 20% to put down.

I’m not a doom and gloomer, but I AM a realist, and anyone can only guess how much the markets will correct this time around and how much it will overshoot on its way down. I have no need for a tinsel hat, but I do believe that we’re not out of the woods quite yet.

[sdrealtor]

coop,
Just curious as to where your broad target is that you are hoping to see 200 prices. If it is my area, start shopping elesewhere and save youself the aggravation.

[sdrealtor]

coop,
Just curious as to where your broad target is that you are hoping to see 200 prices. If it is my area, start shopping elesewhere and save youself the aggravation.

[sdrealtor]

coop,
Just curious as to where your broad target is that you are hoping to see 200 prices. If it is my area, start shopping elesewhere and save youself the aggravation.

[sdrealtor]

coop,
Just curious as to where your broad target is that you are hoping to see 200 prices. If it is my area, start shopping elesewhere and save youself the aggravation.

[Author]

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