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ParticipantBG, 2 & 4 makes total sense together. If you’re too afraid then you’ll be poor. But your solution is to let other manage your finances, you’ll probably be poor too. The correct solution is to learn about finances and get over your fear. It doesn’t hurt have other help you take care of your money but to have other take care of your money, that’s a different situation.
BTW, this list nails it. It doesn’t cover the exceptions, but it does a pretty good job nailing the vast majority.
ParticipantHere’s another flip. http://www.sdlookup.com/MLS-130000375-7988_Lakeport_Rd_San_Diego_CA_92126
$135k-expenses in profit. Not too shabby for 2-3 months. This is why I believe the bigger the pot you have, the more opportunity you have to many a lot more money without the need to leverage.
Participant[quote=UCGal]
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )[/quote]
I see also new windows (not cheap), paint, bathrooms (assuming, since there’s no pix of bathroom from the before), probably patio sliding doors, interior doors, new light switches and outlets. My guess, they probably put in $30k? So that would be a pretty nice profit if they get their asking price.ParticipantI wouldn’t do it by myself if it has abestos. But if it doesn’t, then if you want to save some dough and have the desire to, you can.
Participant[quote=flu][quote=spdrun]Speaking of which, how much do popcorn ceilings cost to remove? Have seen a few condos with the same, and wonder about the possibly asbestos content and attendant removal costs.[/quote]
I’ve seen quotes around about $3k for 1500sqft, but if it really has asbestos, probably higher.[/quote]
my quotes were less. Around $2k for no asbestos and around $3k with abestos for around 1300 sq-ft. Its easy to do my yourself if you have the time and desire. Its just messy.ParticipantMost have new kitchen, baths, flooring, paint, and possible recess lights. Also pop corn ceiling removal. Most weren’t trashed, just old and outdated.
ParticipantThat house is a flip. There plenty around here like that lately. Here’s another one: http://www.sdlookup.com/MLS-130008108-8559_Hebrides_Dr_San_Diego_CA_92126
ParticipantWRT to gentrification and MM. Here’s the Wikipedia’s definition of gentrification: http://en.wikipedia.org/wiki/Gentrification. So, based on this, I would say it’s a yes and no, depend on how important the classification of urban is to you WRT the word gentrification. MM fits some of the description of gentrification. It’s demographics is changing from blue collar low-to-mid middle class to more white collar mid-to-high middle class working in Mira Mesa. There’s a new master planned community that’s going into MM in the next 5-10 years that will add 33% more population to MM. The master planned community will be a mix between condo, mixed used, retail and commercial. So, you’ll see a more urban like feel where everything is walkable and people living above shops. So, in short, what MM is experience is similar to what you would describe an urban area going through gentrification. However, since MM is technically a suburb, it can’t be called gentrification… or can it?
It also depend on what you would consider urban vs suburbs as well. I’ve seen many definitions, so I’m not sure what is the official definition. I’ve seen some that say if you have a density of 3000+ people/sq mile, then you’re urban. While others would only consider downtown type of density to be urban. Mira Mesa today is about 4500 people/sq mile. In 10-15 years, after the Stonecreek master plan completes, that number would be at least 6k people/sq mile. I’ve also seen upzoning request from a couple of apartment complex (and was approved). The builder didn’t follow through due to the housing crash, but I assume once the housing market is buzzing again, you’ll see these apartments gets torn down and more dense apartment comes up. The zoning now is there.
Participant[quote=bearishgurl]Correct me if I’m wrong, flu, but didn’t we determine that this Pardee subdivision was in Sorrento Mesa (92121?) and not Mira Mesa. It is adjacent, but not IN MM?[/quote]First, Sorrento Mesa is not 92121. 92121 spans from UTC to Mira Mesa. Sorrento Mesa is a sub area of Mira Mesa but most people don’t know where it is. It’s the area along Calle Cristobal. It makes not difference because they all go to the same schools and have the same zip code 92126. What you’re probably referring to is Sorrento Valley. Where it’s mostly business and a small bedroom community along Sorrento Valley Blvd. which turns into Calle Cristobal. That area is part of 92121. However, they also go to Mira Mesa’s school. So, besides the zip code difference and higher home price per sq-ft, it’s the same as Mira Mesa, since they also go to Mira Mesa’s school. Mira Mesa Town technically spans from 805 to the 15. From Los Penasquitos Canyon to Miramar. That whole area is controlled by Mira Mesa Town Council. You can think of Sorrento Valley is the commercial side of Mira Mesa.
BTW, the Pardee development is in Mira Mesa with zip code 92126.
Participant[quote=flu]But if you think it’s a great deal. It probably is..Because it’s contingent just like other things in this price range…
http://www.sdlookup.com/MLS-130001881-3916_60th_St_105_San_Diego_CA_92115
Good luck finding the same deal today…[/quote]
Bingo!!! Here’s the listings of all actives <$150k today: linkyParticipant[quote=bearishgurl]
AN, that other “decent” area called MM has subdivisions which also were “victims” of PBT plumbing. [/quote]
I’ve told you this before but I’ll repeat again. The houses on the west side of MM uses copper pipes, not PBT. I know because I’ve seen them. How do you know MM is victims of PBT plumbing?ParticipantThere we have it. Those are the area spdrun considers decent.
Participantbg, seriously, give it up on the SE SD. It was used as an example of an area where some people thinks is decent while others doesn’t. Is it really that hard to understand? We have no idea where spdrun’s condo is and flu’s trying to find that out. Until spdrun tells us where his condo is (at least wrt zip code) there’s no point delving into supply of SE SD or anywhere else.
ParticipantYou have a partner in crime flu.
BG, spdrun said he has a 1/1 in a decent area getting 7.5% cap rate. flu’s just wondering where this secret spot is. I said it’s not where he’d consider decent but I obviously was wrong since flu does think southeast SD is decent.
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