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nostradamus
ParticipantI’m one of those annoying people who feeds french fries to birds near where other people are sitting and I also like to feed trolls, even long-winded, mathematically challenged ones. Are you the artist formerly known as Rather Opinionated a.k.a. the OP of this very thread?
Say you find a nice house in CV tomorrow and get loan for 650K @ 6.25% – your monthly payment is $4,679.25 (assuming 1.25 taxes/insurance and no PMI). If you wait until that same house drops a further 100K you may very well be looking at 8.25% which makes your monthly payment $4,704.88.
Are these the “fundamentals” you bring? The suggestion that you should pay $100,000 more now in order to save $25.63 per month in payments later is quite an interesting investment strategy. Do you realize that it will take 3,902 months of $25.63 in savings to make up for the extra $100k you paid? 325 years.
Give me the $100k discount at 8.25% any day. I’ll invest the $100k in stocks (please point me to the aforementioned stock market blogs).
nighty-night!
ParticipantI’m one of those annoying people who feeds french fries to birds near where other people are sitting and I also like to feed trolls, even long-winded, mathematically challenged ones. Are you the artist formerly known as Rather Opinionated a.k.a. the OP of this very thread?
Say you find a nice house in CV tomorrow and get loan for 650K @ 6.25% – your monthly payment is $4,679.25 (assuming 1.25 taxes/insurance and no PMI). If you wait until that same house drops a further 100K you may very well be looking at 8.25% which makes your monthly payment $4,704.88.
Are these the “fundamentals” you bring? The suggestion that you should pay $100,000 more now in order to save $25.63 per month in payments later is quite an interesting investment strategy. Do you realize that it will take 3,902 months of $25.63 in savings to make up for the extra $100k you paid? 325 years.
Give me the $100k discount at 8.25% any day. I’ll invest the $100k in stocks (please point me to the aforementioned stock market blogs).
nighty-night!
ParticipantNever been to Zurich but I go to Vienna about every year. It’s definitely on my top-5 personal favorites list.
What’s your top-5 list? Mine is:
Osaka because of food and shopping
Vienna because of music and generally smart people, it’s also a great base from which to visit Eastern Europe and Scandinavia.
NYC because of food and nightlife.
Netanya because I fell in love there 10 times a day
San Diego to lay low and chill out. It’s home.
Other cities which are high contenders are Accra, Stockholm , Tokyo.
ParticipantNever been to Zurich but I go to Vienna about every year. It’s definitely on my top-5 personal favorites list.
What’s your top-5 list? Mine is:
Osaka because of food and shopping
Vienna because of music and generally smart people, it’s also a great base from which to visit Eastern Europe and Scandinavia.
NYC because of food and nightlife.
Netanya because I fell in love there 10 times a day
San Diego to lay low and chill out. It’s home.
Other cities which are high contenders are Accra, Stockholm , Tokyo.
ParticipantNever been to Zurich but I go to Vienna about every year. It’s definitely on my top-5 personal favorites list.
What’s your top-5 list? Mine is:
Osaka because of food and shopping
Vienna because of music and generally smart people, it’s also a great base from which to visit Eastern Europe and Scandinavia.
NYC because of food and nightlife.
Netanya because I fell in love there 10 times a day
San Diego to lay low and chill out. It’s home.
Other cities which are high contenders are Accra, Stockholm , Tokyo.
ParticipantNever been to Zurich but I go to Vienna about every year. It’s definitely on my top-5 personal favorites list.
What’s your top-5 list? Mine is:
Osaka because of food and shopping
Vienna because of music and generally smart people, it’s also a great base from which to visit Eastern Europe and Scandinavia.
NYC because of food and nightlife.
Netanya because I fell in love there 10 times a day
San Diego to lay low and chill out. It’s home.
Other cities which are high contenders are Accra, Stockholm , Tokyo.
ParticipantNever been to Zurich but I go to Vienna about every year. It’s definitely on my top-5 personal favorites list.
What’s your top-5 list? Mine is:
Osaka because of food and shopping
Vienna because of music and generally smart people, it’s also a great base from which to visit Eastern Europe and Scandinavia.
NYC because of food and nightlife.
Netanya because I fell in love there 10 times a day
San Diego to lay low and chill out. It’s home.
Other cities which are high contenders are Accra, Stockholm , Tokyo.
Participantquestion: must one expect appreciation in order to turn a profit?
Put 20% down (if $120k he puts down $24k). Rent for enough to break even. In 30 years he owns the place and only paid $24k for it. That’s a 500% return on investment. Is this too simplistic? If it appreciated during that time there’s icing for the cake.
I’m not a bull and not pushing this idea, just asking. I wouldn’t put all my eggs in this basket either but would include it as part of a diverse portfolio.
Participantquestion: must one expect appreciation in order to turn a profit?
Put 20% down (if $120k he puts down $24k). Rent for enough to break even. In 30 years he owns the place and only paid $24k for it. That’s a 500% return on investment. Is this too simplistic? If it appreciated during that time there’s icing for the cake.
I’m not a bull and not pushing this idea, just asking. I wouldn’t put all my eggs in this basket either but would include it as part of a diverse portfolio.
Participantquestion: must one expect appreciation in order to turn a profit?
Put 20% down (if $120k he puts down $24k). Rent for enough to break even. In 30 years he owns the place and only paid $24k for it. That’s a 500% return on investment. Is this too simplistic? If it appreciated during that time there’s icing for the cake.
I’m not a bull and not pushing this idea, just asking. I wouldn’t put all my eggs in this basket either but would include it as part of a diverse portfolio.
Participantquestion: must one expect appreciation in order to turn a profit?
Put 20% down (if $120k he puts down $24k). Rent for enough to break even. In 30 years he owns the place and only paid $24k for it. That’s a 500% return on investment. Is this too simplistic? If it appreciated during that time there’s icing for the cake.
I’m not a bull and not pushing this idea, just asking. I wouldn’t put all my eggs in this basket either but would include it as part of a diverse portfolio.
Participantquestion: must one expect appreciation in order to turn a profit?
Put 20% down (if $120k he puts down $24k). Rent for enough to break even. In 30 years he owns the place and only paid $24k for it. That’s a 500% return on investment. Is this too simplistic? If it appreciated during that time there’s icing for the cake.
I’m not a bull and not pushing this idea, just asking. I wouldn’t put all my eggs in this basket either but would include it as part of a diverse portfolio.
ParticipantWell it couldn’t hurt to go take a look and see what actually needs to be done on the condo. Usually the photos REAs post are the ones that make it look good. Your condo’s photos don’t look good at all so imagine what they’re not showing you.
Run the faucets, flush the toilets, turn on/off everything electrical, run any remaining appliances, check for mold or wood rot or termites or carpet beetles, look for dark spots on the walls close to the ceiling (indicating roof leaks), talk to the upstairs/downstairs neighbors, and video/photo everything for later review/negotiation. Walk around the property and look for graffiti or junk or hazards. See if any cars were broken into, see if the public areas will require “special assessment” like new pool heater, resurfacing the parking lot, repainting the exterior, fix leaking roofs, etc.
I personally don’t like anything too close to the freeways. For MM I don’t like much East of Cam. Ruiz. I think you can find some bargains between Cam. Ruiz and Cam. Santa Fe, to the South of Mira Mesa Blvd. In a year or two you can find bargains to the North of MMB in that area. This is all IMO. One reason I like West of Cam Ruiz is because it is close enough to Sorrento Valley to get good renters, yet it is also close enough to Vons/Seafood City/Edwards Cinemas etc.
ParticipantWell it couldn’t hurt to go take a look and see what actually needs to be done on the condo. Usually the photos REAs post are the ones that make it look good. Your condo’s photos don’t look good at all so imagine what they’re not showing you.
Run the faucets, flush the toilets, turn on/off everything electrical, run any remaining appliances, check for mold or wood rot or termites or carpet beetles, look for dark spots on the walls close to the ceiling (indicating roof leaks), talk to the upstairs/downstairs neighbors, and video/photo everything for later review/negotiation. Walk around the property and look for graffiti or junk or hazards. See if any cars were broken into, see if the public areas will require “special assessment” like new pool heater, resurfacing the parking lot, repainting the exterior, fix leaking roofs, etc.
I personally don’t like anything too close to the freeways. For MM I don’t like much East of Cam. Ruiz. I think you can find some bargains between Cam. Ruiz and Cam. Santa Fe, to the South of Mira Mesa Blvd. In a year or two you can find bargains to the North of MMB in that area. This is all IMO. One reason I like West of Cam Ruiz is because it is close enough to Sorrento Valley to get good renters, yet it is also close enough to Vons/Seafood City/Edwards Cinemas etc.
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