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bearishgurl
Participantsdsurfer, I’m not sdr and am not familiar with North County on a street by street basis. You are on the right track wanting to invest in SFR’s as opposed to condos/PUD’s (with the HOA encumbrance).
If I was going to buy investment properties in the two locales you are proposing here, I would either by one or two larger houses that needed cosmetic work in Esco or one med-smaller house in a coastal area that needed cosmetic or even substantial work and fix up/repair the properties before renting them out.
$380K is a LOT to pay for a rental property given the (possible) vacancy factor of 2-6 weeks per year (in a coastal area). Putting 20% down, you would have to fetch $2200 – $2500 mo rent and manage yourself to make it worth your while (break even or a little extra for “slush fund”). I think it would be hard to do this consistently unless your property was at least 1500 sf with a garage, preferably a two-car garage and walking or biking distance to the beach.
Are any other Piggs more familiar with NCC rental income on a $380K house??
Participantsdsurfer, I’m not sdr and am not familiar with North County on a street by street basis. You are on the right track wanting to invest in SFR’s as opposed to condos/PUD’s (with the HOA encumbrance).
If I was going to buy investment properties in the two locales you are proposing here, I would either by one or two larger houses that needed cosmetic work in Esco or one med-smaller house in a coastal area that needed cosmetic or even substantial work and fix up/repair the properties before renting them out.
$380K is a LOT to pay for a rental property given the (possible) vacancy factor of 2-6 weeks per year (in a coastal area). Putting 20% down, you would have to fetch $2200 – $2500 mo rent and manage yourself to make it worth your while (break even or a little extra for “slush fund”). I think it would be hard to do this consistently unless your property was at least 1500 sf with a garage, preferably a two-car garage and walking or biking distance to the beach.
Are any other Piggs more familiar with NCC rental income on a $380K house??
Participant[quote=sdrealtor]I guess I dont understand. Arent telecom engineers, software engineers, biotech workers, graphic artists, healthcare providers etc. all middle class jobs? Growing up I dont remember many of these jobs existing? These jobs seem to have expanded exponentially over the last two decades.
What I perceive is that the world has changed and the type of jobs that exist has shifted. Many of the more blue collar jobs (i.e.manufacturing have shifted overseas)and entire new categories of higher paying white collar jobs have been created. Am I missing something?[/quote]
Graphic artists and healthcare providers always existed. There are more healthcare providers now because more middle-class and poor families have “insurance” due to Medi-Cal, Healthy Families, Tricare, HMO’s, etc. Back in my day, if you didn’t have insurance, you didn’t go to the doctor unless you went to the emergency room and more patients paid cash for a dr visit.
The manufacturing and construction jobs of the past employed a WHOLE LOT more folks than the engineering jobs you mention here.
Participant[quote=sdrealtor]I guess I dont understand. Arent telecom engineers, software engineers, biotech workers, graphic artists, healthcare providers etc. all middle class jobs? Growing up I dont remember many of these jobs existing? These jobs seem to have expanded exponentially over the last two decades.
What I perceive is that the world has changed and the type of jobs that exist has shifted. Many of the more blue collar jobs (i.e.manufacturing have shifted overseas)and entire new categories of higher paying white collar jobs have been created. Am I missing something?[/quote]
Graphic artists and healthcare providers always existed. There are more healthcare providers now because more middle-class and poor families have “insurance” due to Medi-Cal, Healthy Families, Tricare, HMO’s, etc. Back in my day, if you didn’t have insurance, you didn’t go to the doctor unless you went to the emergency room and more patients paid cash for a dr visit.
The manufacturing and construction jobs of the past employed a WHOLE LOT more folks than the engineering jobs you mention here.
Participant[quote=sdrealtor]I guess I dont understand. Arent telecom engineers, software engineers, biotech workers, graphic artists, healthcare providers etc. all middle class jobs? Growing up I dont remember many of these jobs existing? These jobs seem to have expanded exponentially over the last two decades.
What I perceive is that the world has changed and the type of jobs that exist has shifted. Many of the more blue collar jobs (i.e.manufacturing have shifted overseas)and entire new categories of higher paying white collar jobs have been created. Am I missing something?[/quote]
Graphic artists and healthcare providers always existed. There are more healthcare providers now because more middle-class and poor families have “insurance” due to Medi-Cal, Healthy Families, Tricare, HMO’s, etc. Back in my day, if you didn’t have insurance, you didn’t go to the doctor unless you went to the emergency room and more patients paid cash for a dr visit.
The manufacturing and construction jobs of the past employed a WHOLE LOT more folks than the engineering jobs you mention here.
Participant[quote=sdrealtor]I guess I dont understand. Arent telecom engineers, software engineers, biotech workers, graphic artists, healthcare providers etc. all middle class jobs? Growing up I dont remember many of these jobs existing? These jobs seem to have expanded exponentially over the last two decades.
What I perceive is that the world has changed and the type of jobs that exist has shifted. Many of the more blue collar jobs (i.e.manufacturing have shifted overseas)and entire new categories of higher paying white collar jobs have been created. Am I missing something?[/quote]
Graphic artists and healthcare providers always existed. There are more healthcare providers now because more middle-class and poor families have “insurance” due to Medi-Cal, Healthy Families, Tricare, HMO’s, etc. Back in my day, if you didn’t have insurance, you didn’t go to the doctor unless you went to the emergency room and more patients paid cash for a dr visit.
The manufacturing and construction jobs of the past employed a WHOLE LOT more folks than the engineering jobs you mention here.
Participant[quote=sdrealtor]I guess I dont understand. Arent telecom engineers, software engineers, biotech workers, graphic artists, healthcare providers etc. all middle class jobs? Growing up I dont remember many of these jobs existing? These jobs seem to have expanded exponentially over the last two decades.
What I perceive is that the world has changed and the type of jobs that exist has shifted. Many of the more blue collar jobs (i.e.manufacturing have shifted overseas)and entire new categories of higher paying white collar jobs have been created. Am I missing something?[/quote]
Graphic artists and healthcare providers always existed. There are more healthcare providers now because more middle-class and poor families have “insurance” due to Medi-Cal, Healthy Families, Tricare, HMO’s, etc. Back in my day, if you didn’t have insurance, you didn’t go to the doctor unless you went to the emergency room and more patients paid cash for a dr visit.
The manufacturing and construction jobs of the past employed a WHOLE LOT more folks than the engineering jobs you mention here.
Participant[quote=threadkiller]Just got off the phone with Bank of America and they said because I have FHA loan @ 4.875% (30 year) I would probably never realistically be able to get a better deal in the future. He said can’t roll fees into loan and that MIP has doubled since I took out my loan. Oh well, I know in 10 years my loan will be really good when interest rates are over 10%.[/quote]
TK, hopefully you can get out of your MIP before 10 years is up. If your property eventually appraises for 125% or more of your original loan, you will be eligible to receive a refund of prepaid MIP and have your mtg pymt lowered.
Participant[quote=threadkiller]Just got off the phone with Bank of America and they said because I have FHA loan @ 4.875% (30 year) I would probably never realistically be able to get a better deal in the future. He said can’t roll fees into loan and that MIP has doubled since I took out my loan. Oh well, I know in 10 years my loan will be really good when interest rates are over 10%.[/quote]
TK, hopefully you can get out of your MIP before 10 years is up. If your property eventually appraises for 125% or more of your original loan, you will be eligible to receive a refund of prepaid MIP and have your mtg pymt lowered.
Participant[quote=threadkiller]Just got off the phone with Bank of America and they said because I have FHA loan @ 4.875% (30 year) I would probably never realistically be able to get a better deal in the future. He said can’t roll fees into loan and that MIP has doubled since I took out my loan. Oh well, I know in 10 years my loan will be really good when interest rates are over 10%.[/quote]
TK, hopefully you can get out of your MIP before 10 years is up. If your property eventually appraises for 125% or more of your original loan, you will be eligible to receive a refund of prepaid MIP and have your mtg pymt lowered.
Participant[quote=threadkiller]Just got off the phone with Bank of America and they said because I have FHA loan @ 4.875% (30 year) I would probably never realistically be able to get a better deal in the future. He said can’t roll fees into loan and that MIP has doubled since I took out my loan. Oh well, I know in 10 years my loan will be really good when interest rates are over 10%.[/quote]
TK, hopefully you can get out of your MIP before 10 years is up. If your property eventually appraises for 125% or more of your original loan, you will be eligible to receive a refund of prepaid MIP and have your mtg pymt lowered.
Participant[quote=threadkiller]Just got off the phone with Bank of America and they said because I have FHA loan @ 4.875% (30 year) I would probably never realistically be able to get a better deal in the future. He said can’t roll fees into loan and that MIP has doubled since I took out my loan. Oh well, I know in 10 years my loan will be really good when interest rates are over 10%.[/quote]
TK, hopefully you can get out of your MIP before 10 years is up. If your property eventually appraises for 125% or more of your original loan, you will be eligible to receive a refund of prepaid MIP and have your mtg pymt lowered.
ParticipantHapps, the best mass-produced solid vinyl windows by far are Pella “Thermastar” sold by Lowes. Of course, you want the low E with argon gas between the panes. It cuts the sun by 90%. I replaced a very large window facing the sun with one. It has a slight green tint and brings the outside in! Just incredible looking and very cool to the touch, always.
see: http://www.greenerbuilding.org/product_detail.php?cid=23&pid=97
These windows typically go on 15% discount right after Thanksgiving and Lowe’s contractor will install them very reasonably. Most sizes are special order but there are samples in the store to look at. You might want to call Lowes to inquire.
I believe these particular windows only come with white or cream-colored frames. There is far more selection at the Pella store on Morena Blvd but it is much more expensive to go thru them.
I agree that the mass-produced steel doors made by Stanley and other mfrs are the way to go near the ocean. Some are heavier with a fibre core. They shouldn’t cost more than $400 with a prime coat on them and come with or without windows and panels. Sold by Lowes and Home Depot.
Edit: The “Thermastar” windows at Lowes are the exact same product as the “Encompass” windows at the Pella Store.
see: http://www.pella.com/windows/explore-window-styles/photos.aspx?PCode=VSW&StyleID=5&PType=window
ParticipantHapps, the best mass-produced solid vinyl windows by far are Pella “Thermastar” sold by Lowes. Of course, you want the low E with argon gas between the panes. It cuts the sun by 90%. I replaced a very large window facing the sun with one. It has a slight green tint and brings the outside in! Just incredible looking and very cool to the touch, always.
see: http://www.greenerbuilding.org/product_detail.php?cid=23&pid=97
These windows typically go on 15% discount right after Thanksgiving and Lowe’s contractor will install them very reasonably. Most sizes are special order but there are samples in the store to look at. You might want to call Lowes to inquire.
I believe these particular windows only come with white or cream-colored frames. There is far more selection at the Pella store on Morena Blvd but it is much more expensive to go thru them.
I agree that the mass-produced steel doors made by Stanley and other mfrs are the way to go near the ocean. Some are heavier with a fibre core. They shouldn’t cost more than $400 with a prime coat on them and come with or without windows and panels. Sold by Lowes and Home Depot.
Edit: The “Thermastar” windows at Lowes are the exact same product as the “Encompass” windows at the Pella Store.
see: http://www.pella.com/windows/explore-window-styles/photos.aspx?PCode=VSW&StyleID=5&PType=window
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