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February 22, 2011 at 3:24 PM in reply to: $2800 per month rent translates into what purchase price #670516February 22, 2011 at 3:24 PM in reply to: $2800 per month rent translates into what purchase price #669707
matt-waiting
ParticipantI remember reading somewhere that Mission Hills has the highest disparity between renting and purchasing in San Diego. Meaning it has low rent compared to purchase price. I love Mission Hills and rent there, but I would not consider buying at these prices. There is no way you could rent out your $700,000 MH home for over $3,500.
Del Cerro and Mt. Helix may be different.
February 22, 2011 at 3:24 PM in reply to: $2800 per month rent translates into what purchase price #669769ParticipantI remember reading somewhere that Mission Hills has the highest disparity between renting and purchasing in San Diego. Meaning it has low rent compared to purchase price. I love Mission Hills and rent there, but I would not consider buying at these prices. There is no way you could rent out your $700,000 MH home for over $3,500.
Del Cerro and Mt. Helix may be different.
February 22, 2011 at 3:24 PM in reply to: $2800 per month rent translates into what purchase price #670376ParticipantI remember reading somewhere that Mission Hills has the highest disparity between renting and purchasing in San Diego. Meaning it has low rent compared to purchase price. I love Mission Hills and rent there, but I would not consider buying at these prices. There is no way you could rent out your $700,000 MH home for over $3,500.
Del Cerro and Mt. Helix may be different.
February 22, 2011 at 3:24 PM in reply to: $2800 per month rent translates into what purchase price #670859ParticipantI remember reading somewhere that Mission Hills has the highest disparity between renting and purchasing in San Diego. Meaning it has low rent compared to purchase price. I love Mission Hills and rent there, but I would not consider buying at these prices. There is no way you could rent out your $700,000 MH home for over $3,500.
Del Cerro and Mt. Helix may be different.
ParticipantIt sounds like you are holding all the cards. My guess is that you would prefer to buy the place you are currently in (for a fair price).
If the market for your rental condos is in the $450K range, then offer the owner 440 and do the transaction without any real estate agents. You save on moving costs. He saves the real estate agent’s fees. You have a good idea of the property already and you could pay a lawyer by the hour to help with paperwork.
If he says no, show him the sold comps. In my opinion there should not be that great of a disparity in condo prices and he will eventually learn that his condo is not special (and you will learn that people won’t sell a huge amount below market). Until he realizes that, keep renting at half price.
If you are really an evil person at heart, tell him if he does not accept your offer, you will not allow him to show the property anymore, stop paying rent, and become a holdover tenant.
ParticipantIt sounds like you are holding all the cards. My guess is that you would prefer to buy the place you are currently in (for a fair price).
If the market for your rental condos is in the $450K range, then offer the owner 440 and do the transaction without any real estate agents. You save on moving costs. He saves the real estate agent’s fees. You have a good idea of the property already and you could pay a lawyer by the hour to help with paperwork.
If he says no, show him the sold comps. In my opinion there should not be that great of a disparity in condo prices and he will eventually learn that his condo is not special (and you will learn that people won’t sell a huge amount below market). Until he realizes that, keep renting at half price.
If you are really an evil person at heart, tell him if he does not accept your offer, you will not allow him to show the property anymore, stop paying rent, and become a holdover tenant.
ParticipantIt sounds like you are holding all the cards. My guess is that you would prefer to buy the place you are currently in (for a fair price).
If the market for your rental condos is in the $450K range, then offer the owner 440 and do the transaction without any real estate agents. You save on moving costs. He saves the real estate agent’s fees. You have a good idea of the property already and you could pay a lawyer by the hour to help with paperwork.
If he says no, show him the sold comps. In my opinion there should not be that great of a disparity in condo prices and he will eventually learn that his condo is not special (and you will learn that people won’t sell a huge amount below market). Until he realizes that, keep renting at half price.
If you are really an evil person at heart, tell him if he does not accept your offer, you will not allow him to show the property anymore, stop paying rent, and become a holdover tenant.
ParticipantIt sounds like you are holding all the cards. My guess is that you would prefer to buy the place you are currently in (for a fair price).
If the market for your rental condos is in the $450K range, then offer the owner 440 and do the transaction without any real estate agents. You save on moving costs. He saves the real estate agent’s fees. You have a good idea of the property already and you could pay a lawyer by the hour to help with paperwork.
If he says no, show him the sold comps. In my opinion there should not be that great of a disparity in condo prices and he will eventually learn that his condo is not special (and you will learn that people won’t sell a huge amount below market). Until he realizes that, keep renting at half price.
If you are really an evil person at heart, tell him if he does not accept your offer, you will not allow him to show the property anymore, stop paying rent, and become a holdover tenant.
ParticipantIt sounds like you are holding all the cards. My guess is that you would prefer to buy the place you are currently in (for a fair price).
If the market for your rental condos is in the $450K range, then offer the owner 440 and do the transaction without any real estate agents. You save on moving costs. He saves the real estate agent’s fees. You have a good idea of the property already and you could pay a lawyer by the hour to help with paperwork.
If he says no, show him the sold comps. In my opinion there should not be that great of a disparity in condo prices and he will eventually learn that his condo is not special (and you will learn that people won’t sell a huge amount below market). Until he realizes that, keep renting at half price.
If you are really an evil person at heart, tell him if he does not accept your offer, you will not allow him to show the property anymore, stop paying rent, and become a holdover tenant.
February 8, 2011 at 11:05 AM in reply to: What would you do? 4.75 with 196K to close OR 5.00 with 126K to close #663766ParticipantA. $2,175 (417K loan) vs.
B. $2,620 (488K loan)
February 8, 2011 at 11:05 AM in reply to: What would you do? 4.75 with 196K to close OR 5.00 with 126K to close #664372ParticipantA. $2,175 (417K loan) vs.
B. $2,620 (488K loan)
February 8, 2011 at 11:05 AM in reply to: What would you do? 4.75 with 196K to close OR 5.00 with 126K to close #664510ParticipantA. $2,175 (417K loan) vs.
B. $2,620 (488K loan)
February 8, 2011 at 11:05 AM in reply to: What would you do? 4.75 with 196K to close OR 5.00 with 126K to close #664849ParticipantA. $2,175 (417K loan) vs.
B. $2,620 (488K loan)
February 8, 2011 at 11:05 AM in reply to: What would you do? 4.75 with 196K to close OR 5.00 with 126K to close #663704ParticipantA. $2,175 (417K loan) vs.
B. $2,620 (488K loan)
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