[ocrenter]

no, I didn’t count the HOA or the insurance nor the gardener and utility.

so far he’s only out $1,400 on the HOA. as for the mello roos and property tax, those were included in the $20k bill he just paid in May.

this is a HIGH RISK fire insurance area, perhaps the professionals on this board can shed light on how much the insurance bill would have been over the last 10 months.

plus the view at this home ain’t so great, hard to get me to even consider paying $700k to look at this every single day for the next 30 years…

[img_assist|nid=7523|title=right out the front door you see this|desc=|link=node|align=left|width=466|height=329]

[ocrenter]

no, I didn’t count the HOA or the insurance nor the gardener and utility.

so far he’s only out $1,400 on the HOA. as for the mello roos and property tax, those were included in the $20k bill he just paid in May.

this is a HIGH RISK fire insurance area, perhaps the professionals on this board can shed light on how much the insurance bill would have been over the last 10 months.

plus the view at this home ain’t so great, hard to get me to even consider paying $700k to look at this every single day for the next 30 years…

[img_assist|nid=7523|title=right out the front door you see this|desc=|link=node|align=left|width=466|height=329]

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

except during the height of the bubble even single income physician families couldn’t afford.

here’s a more realistic scenario:

orthopedic couple could buy in soledad, GP couple then live in OB, the single income GP or pediatrician commutes from Temecula, and the nurses would have to come in from Hemet.

[ocrenter]

except during the height of the bubble even single income physician families couldn’t afford.

here’s a more realistic scenario:

orthopedic couple could buy in soledad, GP couple then live in OB, the single income GP or pediatrician commutes from Temecula, and the nurses would have to come in from Hemet.

[ocrenter]

except during the height of the bubble even single income physician families couldn’t afford.

here’s a more realistic scenario:

orthopedic couple could buy in soledad, GP couple then live in OB, the single income GP or pediatrician commutes from Temecula, and the nurses would have to come in from Hemet.

[ocrenter]

except during the height of the bubble even single income physician families couldn’t afford.

here’s a more realistic scenario:

orthopedic couple could buy in soledad, GP couple then live in OB, the single income GP or pediatrician commutes from Temecula, and the nurses would have to come in from Hemet.

[ocrenter]

except during the height of the bubble even single income physician families couldn’t afford.

here’s a more realistic scenario:

orthopedic couple could buy in soledad, GP couple then live in OB, the single income GP or pediatrician commutes from Temecula, and the nurses would have to come in from Hemet.

[ocrenter]

[img_assist|nid=7498|title=sd foreclosure chart|desc=|link=node|align=left|width=466|height=372]

[ocrenter]

[img_assist|nid=7498|title=sd foreclosure chart|desc=|link=node|align=left|width=466|height=372]

[ocrenter]

[img_assist|nid=7498|title=sd foreclosure chart|desc=|link=node|align=left|width=466|height=372]

[Author]

Posts