[nostradamus]

Hi cv,

Where do you get the $20k estimate? I’ve just had quotes from 3 different contractors to redo a bathroom which isn’t nearly as trashed as those, and the quotes were in the $10k range per bathroom (including basic tiles, countertops, etc). I’d say $20k just for the bathrooms. Then you have the kitchen, which will be vital for the picky renter. Then again, a picky renter might not be renting in this area. Anyhow, the quotes I got were for superficial things, not plumbing or wiring or drywall or other, like this unit surely needs. So I’d say $50k+ to fix it up. You can always do the work yourself (I’ve been doing my own bathrooms, it’s coming out great) for much cheaper but have to invest a lot of time.

You also have closing costs to think about, is that part of your $150k estimate? I see you’re already thinking about the special assessment, this is good. If there are a lot of vacancies (you mentioned REOs) then there is a good chance you will be assessed or just plain raise the HOA to cover the lack of HOA dues paid by those vacancies.

Heaven forbid you should end up with a disgruntled renter. I would aim for an engineer or other professional to rent your unit, and be picky about it. If you fix the place up nice and present it well, and are thorough in choosing your tenant, you can break even.

That being said, you can also break even if you wait 5 years. Don’t worry about rates going up, because this is a cash-only sale so rates do not affect you other than to lower the sales price! The ONLY reason I’d say “buy now” is if you were affected by interest rates but even that is debatable.

[nostradamus]

Hi cv,

Where do you get the $20k estimate? I’ve just had quotes from 3 different contractors to redo a bathroom which isn’t nearly as trashed as those, and the quotes were in the $10k range per bathroom (including basic tiles, countertops, etc). I’d say $20k just for the bathrooms. Then you have the kitchen, which will be vital for the picky renter. Then again, a picky renter might not be renting in this area. Anyhow, the quotes I got were for superficial things, not plumbing or wiring or drywall or other, like this unit surely needs. So I’d say $50k+ to fix it up. You can always do the work yourself (I’ve been doing my own bathrooms, it’s coming out great) for much cheaper but have to invest a lot of time.

You also have closing costs to think about, is that part of your $150k estimate? I see you’re already thinking about the special assessment, this is good. If there are a lot of vacancies (you mentioned REOs) then there is a good chance you will be assessed or just plain raise the HOA to cover the lack of HOA dues paid by those vacancies.

Heaven forbid you should end up with a disgruntled renter. I would aim for an engineer or other professional to rent your unit, and be picky about it. If you fix the place up nice and present it well, and are thorough in choosing your tenant, you can break even.

That being said, you can also break even if you wait 5 years. Don’t worry about rates going up, because this is a cash-only sale so rates do not affect you other than to lower the sales price! The ONLY reason I’d say “buy now” is if you were affected by interest rates but even that is debatable.

[nostradamus]

Hi cv,

Where do you get the $20k estimate? I’ve just had quotes from 3 different contractors to redo a bathroom which isn’t nearly as trashed as those, and the quotes were in the $10k range per bathroom (including basic tiles, countertops, etc). I’d say $20k just for the bathrooms. Then you have the kitchen, which will be vital for the picky renter. Then again, a picky renter might not be renting in this area. Anyhow, the quotes I got were for superficial things, not plumbing or wiring or drywall or other, like this unit surely needs. So I’d say $50k+ to fix it up. You can always do the work yourself (I’ve been doing my own bathrooms, it’s coming out great) for much cheaper but have to invest a lot of time.

You also have closing costs to think about, is that part of your $150k estimate? I see you’re already thinking about the special assessment, this is good. If there are a lot of vacancies (you mentioned REOs) then there is a good chance you will be assessed or just plain raise the HOA to cover the lack of HOA dues paid by those vacancies.

Heaven forbid you should end up with a disgruntled renter. I would aim for an engineer or other professional to rent your unit, and be picky about it. If you fix the place up nice and present it well, and are thorough in choosing your tenant, you can break even.

That being said, you can also break even if you wait 5 years. Don’t worry about rates going up, because this is a cash-only sale so rates do not affect you other than to lower the sales price! The ONLY reason I’d say “buy now” is if you were affected by interest rates but even that is debatable.

[nostradamus]

Where are the details? The car looks pretty sweet but how much does it cost? What is it’s range on one charge? What are its acceleration, weight, stopping distance, crash test performance, etc?

All I read from this is that it’s WAAAAY far from being available, affordable, or even completely designed.

[nostradamus]

Where are the details? The car looks pretty sweet but how much does it cost? What is it’s range on one charge? What are its acceleration, weight, stopping distance, crash test performance, etc?

All I read from this is that it’s WAAAAY far from being available, affordable, or even completely designed.

[nostradamus]

Where are the details? The car looks pretty sweet but how much does it cost? What is it’s range on one charge? What are its acceleration, weight, stopping distance, crash test performance, etc?

All I read from this is that it’s WAAAAY far from being available, affordable, or even completely designed.

[nostradamus]

Where are the details? The car looks pretty sweet but how much does it cost? What is it’s range on one charge? What are its acceleration, weight, stopping distance, crash test performance, etc?

All I read from this is that it’s WAAAAY far from being available, affordable, or even completely designed.

[nostradamus]

Where are the details? The car looks pretty sweet but how much does it cost? What is it’s range on one charge? What are its acceleration, weight, stopping distance, crash test performance, etc?

All I read from this is that it’s WAAAAY far from being available, affordable, or even completely designed.

[nostradamus]

Is the OP suggesting that the piggs are numerous enough to dictate where the bottom is? I’d say they are too few to make a difference. IMO one way to generally describe the piggs is cash-heavy investors waiting to scoop up some bargains no matter what the MSM and Joe-6-pack are doing (buying, selling, calling bottom, etc). We are a minority!

[nostradamus]

Is the OP suggesting that the piggs are numerous enough to dictate where the bottom is? I’d say they are too few to make a difference. IMO one way to generally describe the piggs is cash-heavy investors waiting to scoop up some bargains no matter what the MSM and Joe-6-pack are doing (buying, selling, calling bottom, etc). We are a minority!

[nostradamus]

Is the OP suggesting that the piggs are numerous enough to dictate where the bottom is? I’d say they are too few to make a difference. IMO one way to generally describe the piggs is cash-heavy investors waiting to scoop up some bargains no matter what the MSM and Joe-6-pack are doing (buying, selling, calling bottom, etc). We are a minority!

[nostradamus]

Is the OP suggesting that the piggs are numerous enough to dictate where the bottom is? I’d say they are too few to make a difference. IMO one way to generally describe the piggs is cash-heavy investors waiting to scoop up some bargains no matter what the MSM and Joe-6-pack are doing (buying, selling, calling bottom, etc). We are a minority!

[nostradamus]

Is the OP suggesting that the piggs are numerous enough to dictate where the bottom is? I’d say they are too few to make a difference. IMO one way to generally describe the piggs is cash-heavy investors waiting to scoop up some bargains no matter what the MSM and Joe-6-pack are doing (buying, selling, calling bottom, etc). We are a minority!

[nostradamus]

uh, ya, go ahead and click on the link now mkay. You will see who is funding it and where the money goes. That would be called the “sponsors” section mmmmkay?

[nostradamus]

uh, ya, go ahead and click on the link now mkay. You will see who is funding it and where the money goes. That would be called the “sponsors” section mmmmkay?

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