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EconProf
ParticipantBobS
To the best of my knowledge, the order of loan types, from the lowest rates to the highest is as follows:
1. Owner-occupied SFR
2. Non-owner-occupied SFR
3. Commercial Property
4. Raw land or lots.An exception to #3 being expensive would be if you can snag a SBA loan. Tack on a higher rate to any of the above for poor credit or higher LTV.
Other readers please weigh in.
ParticipantBobS
To the best of my knowledge, the order of loan types, from the lowest rates to the highest is as follows:
1. Owner-occupied SFR
2. Non-owner-occupied SFR
3. Commercial Property
4. Raw land or lots.An exception to #3 being expensive would be if you can snag a SBA loan. Tack on a higher rate to any of the above for poor credit or higher LTV.
Other readers please weigh in.
ParticipantBobS
To the best of my knowledge, the order of loan types, from the lowest rates to the highest is as follows:
1. Owner-occupied SFR
2. Non-owner-occupied SFR
3. Commercial Property
4. Raw land or lots.An exception to #3 being expensive would be if you can snag a SBA loan. Tack on a higher rate to any of the above for poor credit or higher LTV.
Other readers please weigh in.
ParticipantBobS
To the best of my knowledge, the order of loan types, from the lowest rates to the highest is as follows:
1. Owner-occupied SFR
2. Non-owner-occupied SFR
3. Commercial Property
4. Raw land or lots.An exception to #3 being expensive would be if you can snag a SBA loan. Tack on a higher rate to any of the above for poor credit or higher LTV.
Other readers please weigh in.
ParticipantBobS
Hmm…I thought this topic was SD jobs and economic health. But LL is so prescient he can know all about me in my 7 lines that he can go on with a personal attack that goes on for 19 lines! And darn, he discovered that I flip burgers in AZ.
Back to topic:
The latest figures on job creation in San Diego and CA are abysmal. We are way underperforming the nation, as the original post establishes, in both quantity and (for San Diego), quality of jobs, and no, it is not all construction-related.
Check the ratio of U-Haul truck rental pricing CA vs the more dynamic lower tax, business-friendly states. 4 to 1 all the way to 7 to 1, last I checked. People are voting with their feet, especially wealthy taxpayers. Many who “work” in the Bay area actually live in the Tahoe area; I hear anecdotally the same is true for L.A. & Las Vegas.
Texas is booming, and it is not just oil-related buy high tech. So is Utah, Idaho, Washington.
Demographics is destiny, and the trends are not good for San Diego.
News flash: the looniest of liberals control our state legislature, and have for many years. They are readying major tax hikes and the puny number of Republicans can’t do much to stop them. Democrats are near to having a 2/3 majority, which would emasculate any remaining Republican power. The Gubernator? He long ago turned into a girly-man. Remember, he sleeps with a Kennedy.
As for me, I sold almost all of my San Diego properties between 2002 and 2007 and moved my investments to friendlier climes where it has done well. My wife and I will stay in San Diego for the weather and other attractions, but my money won’t.ParticipantBobS
Hmm…I thought this topic was SD jobs and economic health. But LL is so prescient he can know all about me in my 7 lines that he can go on with a personal attack that goes on for 19 lines! And darn, he discovered that I flip burgers in AZ.
Back to topic:
The latest figures on job creation in San Diego and CA are abysmal. We are way underperforming the nation, as the original post establishes, in both quantity and (for San Diego), quality of jobs, and no, it is not all construction-related.
Check the ratio of U-Haul truck rental pricing CA vs the more dynamic lower tax, business-friendly states. 4 to 1 all the way to 7 to 1, last I checked. People are voting with their feet, especially wealthy taxpayers. Many who “work” in the Bay area actually live in the Tahoe area; I hear anecdotally the same is true for L.A. & Las Vegas.
Texas is booming, and it is not just oil-related buy high tech. So is Utah, Idaho, Washington.
Demographics is destiny, and the trends are not good for San Diego.
News flash: the looniest of liberals control our state legislature, and have for many years. They are readying major tax hikes and the puny number of Republicans can’t do much to stop them. Democrats are near to having a 2/3 majority, which would emasculate any remaining Republican power. The Gubernator? He long ago turned into a girly-man. Remember, he sleeps with a Kennedy.
As for me, I sold almost all of my San Diego properties between 2002 and 2007 and moved my investments to friendlier climes where it has done well. My wife and I will stay in San Diego for the weather and other attractions, but my money won’t.ParticipantBobS
Hmm…I thought this topic was SD jobs and economic health. But LL is so prescient he can know all about me in my 7 lines that he can go on with a personal attack that goes on for 19 lines! And darn, he discovered that I flip burgers in AZ.
Back to topic:
The latest figures on job creation in San Diego and CA are abysmal. We are way underperforming the nation, as the original post establishes, in both quantity and (for San Diego), quality of jobs, and no, it is not all construction-related.
Check the ratio of U-Haul truck rental pricing CA vs the more dynamic lower tax, business-friendly states. 4 to 1 all the way to 7 to 1, last I checked. People are voting with their feet, especially wealthy taxpayers. Many who “work” in the Bay area actually live in the Tahoe area; I hear anecdotally the same is true for L.A. & Las Vegas.
Texas is booming, and it is not just oil-related buy high tech. So is Utah, Idaho, Washington.
Demographics is destiny, and the trends are not good for San Diego.
News flash: the looniest of liberals control our state legislature, and have for many years. They are readying major tax hikes and the puny number of Republicans can’t do much to stop them. Democrats are near to having a 2/3 majority, which would emasculate any remaining Republican power. The Gubernator? He long ago turned into a girly-man. Remember, he sleeps with a Kennedy.
As for me, I sold almost all of my San Diego properties between 2002 and 2007 and moved my investments to friendlier climes where it has done well. My wife and I will stay in San Diego for the weather and other attractions, but my money won’t.ParticipantBobS
Hmm…I thought this topic was SD jobs and economic health. But LL is so prescient he can know all about me in my 7 lines that he can go on with a personal attack that goes on for 19 lines! And darn, he discovered that I flip burgers in AZ.
Back to topic:
The latest figures on job creation in San Diego and CA are abysmal. We are way underperforming the nation, as the original post establishes, in both quantity and (for San Diego), quality of jobs, and no, it is not all construction-related.
Check the ratio of U-Haul truck rental pricing CA vs the more dynamic lower tax, business-friendly states. 4 to 1 all the way to 7 to 1, last I checked. People are voting with their feet, especially wealthy taxpayers. Many who “work” in the Bay area actually live in the Tahoe area; I hear anecdotally the same is true for L.A. & Las Vegas.
Texas is booming, and it is not just oil-related buy high tech. So is Utah, Idaho, Washington.
Demographics is destiny, and the trends are not good for San Diego.
News flash: the looniest of liberals control our state legislature, and have for many years. They are readying major tax hikes and the puny number of Republicans can’t do much to stop them. Democrats are near to having a 2/3 majority, which would emasculate any remaining Republican power. The Gubernator? He long ago turned into a girly-man. Remember, he sleeps with a Kennedy.
As for me, I sold almost all of my San Diego properties between 2002 and 2007 and moved my investments to friendlier climes where it has done well. My wife and I will stay in San Diego for the weather and other attractions, but my money won’t.ParticipantBobS
Hmm…I thought this topic was SD jobs and economic health. But LL is so prescient he can know all about me in my 7 lines that he can go on with a personal attack that goes on for 19 lines! And darn, he discovered that I flip burgers in AZ.
Back to topic:
The latest figures on job creation in San Diego and CA are abysmal. We are way underperforming the nation, as the original post establishes, in both quantity and (for San Diego), quality of jobs, and no, it is not all construction-related.
Check the ratio of U-Haul truck rental pricing CA vs the more dynamic lower tax, business-friendly states. 4 to 1 all the way to 7 to 1, last I checked. People are voting with their feet, especially wealthy taxpayers. Many who “work” in the Bay area actually live in the Tahoe area; I hear anecdotally the same is true for L.A. & Las Vegas.
Texas is booming, and it is not just oil-related buy high tech. So is Utah, Idaho, Washington.
Demographics is destiny, and the trends are not good for San Diego.
News flash: the looniest of liberals control our state legislature, and have for many years. They are readying major tax hikes and the puny number of Republicans can’t do much to stop them. Democrats are near to having a 2/3 majority, which would emasculate any remaining Republican power. The Gubernator? He long ago turned into a girly-man. Remember, he sleeps with a Kennedy.
As for me, I sold almost all of my San Diego properties between 2002 and 2007 and moved my investments to friendlier climes where it has done well. My wife and I will stay in San Diego for the weather and other attractions, but my money won’t.ParticipantBobS
This is a tough dilemna, and fairly common. You need a temporary or hard money loan for a while so you can do the fixup nec. for a decent loan. Trouble is, any lender has to do the usual expensive due diligence & cover his fixed costs for a short term loan–whether on the new purchase or the commercial property–and must charge you accordingly.
Some possibilities:
1. Seller financing with a short fuse during rehab. Beg or borrow from others or your credit cards to give him a reassuring down payment and he’ll feel safe. Since your competition also has to scurry for financing, he may cooperate.
2. Look for comm’l short term financing in the Wall S.J. Wednesday real estate classifieds.
3. Likewise for the classifieds in Sunday U-T under investments.
4. The Bruce Norris organization in LA area offers such quick and short term financing…again it is expensive, but a one-year loan for, say, 15% or 16% may be available.I understand your situation since I once bought a screaming bargain house (built in 1922) in Normal Heights with a bad foundation for $46,500 cash in 1996; sold it 5 years later for $254k with same foundation & full disclosure. Interestingly, the buyer got full financing since lenders started shoveling money out the door about then.
ParticipantBobS
This is a tough dilemna, and fairly common. You need a temporary or hard money loan for a while so you can do the fixup nec. for a decent loan. Trouble is, any lender has to do the usual expensive due diligence & cover his fixed costs for a short term loan–whether on the new purchase or the commercial property–and must charge you accordingly.
Some possibilities:
1. Seller financing with a short fuse during rehab. Beg or borrow from others or your credit cards to give him a reassuring down payment and he’ll feel safe. Since your competition also has to scurry for financing, he may cooperate.
2. Look for comm’l short term financing in the Wall S.J. Wednesday real estate classifieds.
3. Likewise for the classifieds in Sunday U-T under investments.
4. The Bruce Norris organization in LA area offers such quick and short term financing…again it is expensive, but a one-year loan for, say, 15% or 16% may be available.I understand your situation since I once bought a screaming bargain house (built in 1922) in Normal Heights with a bad foundation for $46,500 cash in 1996; sold it 5 years later for $254k with same foundation & full disclosure. Interestingly, the buyer got full financing since lenders started shoveling money out the door about then.
ParticipantBobS
This is a tough dilemna, and fairly common. You need a temporary or hard money loan for a while so you can do the fixup nec. for a decent loan. Trouble is, any lender has to do the usual expensive due diligence & cover his fixed costs for a short term loan–whether on the new purchase or the commercial property–and must charge you accordingly.
Some possibilities:
1. Seller financing with a short fuse during rehab. Beg or borrow from others or your credit cards to give him a reassuring down payment and he’ll feel safe. Since your competition also has to scurry for financing, he may cooperate.
2. Look for comm’l short term financing in the Wall S.J. Wednesday real estate classifieds.
3. Likewise for the classifieds in Sunday U-T under investments.
4. The Bruce Norris organization in LA area offers such quick and short term financing…again it is expensive, but a one-year loan for, say, 15% or 16% may be available.I understand your situation since I once bought a screaming bargain house (built in 1922) in Normal Heights with a bad foundation for $46,500 cash in 1996; sold it 5 years later for $254k with same foundation & full disclosure. Interestingly, the buyer got full financing since lenders started shoveling money out the door about then.
ParticipantBobS
This is a tough dilemna, and fairly common. You need a temporary or hard money loan for a while so you can do the fixup nec. for a decent loan. Trouble is, any lender has to do the usual expensive due diligence & cover his fixed costs for a short term loan–whether on the new purchase or the commercial property–and must charge you accordingly.
Some possibilities:
1. Seller financing with a short fuse during rehab. Beg or borrow from others or your credit cards to give him a reassuring down payment and he’ll feel safe. Since your competition also has to scurry for financing, he may cooperate.
2. Look for comm’l short term financing in the Wall S.J. Wednesday real estate classifieds.
3. Likewise for the classifieds in Sunday U-T under investments.
4. The Bruce Norris organization in LA area offers such quick and short term financing…again it is expensive, but a one-year loan for, say, 15% or 16% may be available.I understand your situation since I once bought a screaming bargain house (built in 1922) in Normal Heights with a bad foundation for $46,500 cash in 1996; sold it 5 years later for $254k with same foundation & full disclosure. Interestingly, the buyer got full financing since lenders started shoveling money out the door about then.
ParticipantBobS
This is a tough dilemna, and fairly common. You need a temporary or hard money loan for a while so you can do the fixup nec. for a decent loan. Trouble is, any lender has to do the usual expensive due diligence & cover his fixed costs for a short term loan–whether on the new purchase or the commercial property–and must charge you accordingly.
Some possibilities:
1. Seller financing with a short fuse during rehab. Beg or borrow from others or your credit cards to give him a reassuring down payment and he’ll feel safe. Since your competition also has to scurry for financing, he may cooperate.
2. Look for comm’l short term financing in the Wall S.J. Wednesday real estate classifieds.
3. Likewise for the classifieds in Sunday U-T under investments.
4. The Bruce Norris organization in LA area offers such quick and short term financing…again it is expensive, but a one-year loan for, say, 15% or 16% may be available.I understand your situation since I once bought a screaming bargain house (built in 1922) in Normal Heights with a bad foundation for $46,500 cash in 1996; sold it 5 years later for $254k with same foundation & full disclosure. Interestingly, the buyer got full financing since lenders started shoveling money out the door about then.
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