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spdrun
ParticipantNot a question of bubbling, as much as the DC market being DC.
(a) It’s spring/early summer
(b) The good parts of DC never really dropped. The bad parts aren’t necessarily places that you want to live. If you want to “pioneer”, try looking north of H Street in Northeast (20002) — lot of redevelopment going on on H St, and the Metro is building a new tram line as well.
(c) Even if government does get cut, it’s not necessarily bad for DC, since the outlying offices tend to get cut FIRST
(d) Built in 1940 isn’t necessarily a bad thing in the Northeast. My condo in NYC was built in 1910 and I bought it essentially without inspection.What are you looking for exactly? Am I correct that are you’re looking in DC proper, or are you looking in the ‘burbs (which I know less well).
June 21, 2012 at 6:23 PM in reply to: Loan mods not working… Really??? Kicking the can down the road doesn’t work??? Who would have thought… #746222ParticipantRegarding cars — the cash for clunkers porkulus program as well as lack of sales from 2008-10 reduced supply of good cheap used cars. So now poorer people are stuck with making payments to the company store. Yay for America!
Me, I’ll stick with my 1980s “classic clunker” (paid off, T.Y.V.D.M.) for as long as it runs well. Then pick up another used car for $3k, fix it up, drive, sell at a profit, lather, rinse repeat.
As far as new cars, the only ones I’d consider would be Prius, FT86, Honda Fit, or Fiat 500, not necessarily in that order. The rest (out of US market cars) are mostly bloated oink-oinks.
Participant[quote=sdrealtor]I no longer like the east coast. Some things are stupider here but alot of what seems stupider is just different view points than we grew up with.
Its kinda like complaining that they dont have good pizza, subs and bread in SoCal. You’ll never be happy with what we have here so just embrace the Mexican food. A carne asada burrito is my new cheesesteak.[/quote]
Meh, there are good ‘zza, subs, and bread, AS WELL AS good Mexican food to be had in NYC. Maybe not in the midtown business/tourist district, but if you venture into the neighborhoods with more Mexicans, you can get quite good examples their food.
Unless I leave the US entirely, I’d want to have at least a pied-a-terre in the NY area, even if I also own a few condos on the other coast. Really nothing anywhere in the US compares to NYC, though as far as East Coast, I could tolerate living in Boston.
But most of what (and whom) I love is in NYC, so NYC it is 🙂
June 21, 2012 at 12:52 PM in reply to: Loan mods not working… Really??? Kicking the can down the road doesn’t work??? Who would have thought… #746204ParticipantB…but the economy has to keep running!!! Can’t have people driving used cars and using 5-year-old computers that are still good enough.
THINK OF THE POOR AUTO WORKERS!
ParticipantIf you try to apply the rules of living and the way things are back east to SoCal you will be neither successful nor happy. Its basically assimilate or go home here.
I’m not against flowing with the stupider aspects of CA. But I reserve the right to be weirded out by them 🙂
Frankly, I like BOTH places, in different ways.
ParticipantTenant laws = not worse than NJ.
Lawsuits = scams of that type exist on the East Coast as well — i.e. someone pulls in front of you, slams on the brakes, making you rear-end them. Then sues for personal injury. Rare, but it happens.
People = I’ll take East Coast or CA over Phoenix any day.
Climate = I wouldn’t want to live OR do business in a place where 100*F+ is common. Or where it’s humid and 90*F five months of the year. I don’t handle heat well. This rules out Phx, LV, and Florida.ParticipantBut SD provides a good balance of ease of renting, cash flow, AND appreciation potential.
Also, as far as some of those places (Florida, Las Vegas, Phoenix), they’re basically imbecile-infested dumps. Yeah, like I need to have tenants in a place where all you need to do to carry a pistol around is fog a mirror.
I’ll stick to NJ/NY and/or San Diego. I’m not really looking for more than 7-9% cash flow, as long as it DOES cash flow.
ParticipantAN: Or move into Oregon and annex it by force. Those Birkenstock-wearing, tree-hugging greenies wouldn’t put up much of a fight at all.
Don’t be so sure about that — isn’t Portland the crank capital of the USA? Birk-wearing, tree-hugging greenies amped up on speedballs 😀
ParticipantI’m not full time, and have no desire to live there permanently — I’m just there frequently and see opportunity in the property market there 🙂
Honestly, not sure if I’ll end up playing with rentals there or in NYC area. Both are good markets — NYC area has better cap rates, whereas SoCal is more frothy and has more chance for appreciation when the stupids create another Bubble.
The other thing that scares me and is dissuading me is that the properties with good cash flow in the SD area seem to be mainly condos (from what I’ve seen). A lot of the condos are in not so hot financial shape, which makes financing them with reasonable terms a bear. Whereas out East, there are quite a few small multi-families with 8+% cap rates for the picking. No condo association, fewer financing issues.
ParticipantNortheast is so easy in that respect — plenty of old money drives older cars and no one says a damn thing about it. Just keep it well maintained, not looking beat to hell.
In fact, the gardener might be driving a newer car since he’s taking advantage of a $69/mo lease on a Kia or some Generic Morons garbazhe, whereas the rich guy’s 1990s Mercedes keeps on chugging.
ParticipantNY Times. London Economist.
Oh wait… did you want local news?
ParticipantAnd NYC isn’t expensive? Yet approaching a seller’s broker directly is quite common there.
June 20, 2012 at 12:53 PM in reply to: OT: the microsoft backward compatiblity strategy lives on…. #746158ParticipantThey’ve generally been better than Apple in that respect. And just because its closed-source doesn’t make it unhackable 🙂
What worries me more is the walled-garden approach to Metro(sexual) apps, though it’s apparently not too difficult to side-load.
June 20, 2012 at 11:59 AM in reply to: Well, I guess it’ll be safe for me to use my heloc over the next few years… #746155ParticipantLooks like the markets are down after Bennie boy flapped his pie-hole.
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