[Tavo]

Deal Hunter,

Not necessarily in a “distressed” situation, just a stupid (cash flow negative) one by my own making. Thanks for the post….

Sdnerd,

Thanks for the well thought out response and for reading my previous posts. I agree 100% with your recommendations and conclusions. These were my original conclusions, but it was nice to read other people’s thoughts. I guess, at this point, I need to ride this out a little longer until my options become clearer…

[Tavo]

Deal Hunter,

Not necessarily in a “distressed” situation, just a stupid (cash flow negative) one by my own making. Thanks for the post….

Sdnerd,

Thanks for the well thought out response and for reading my previous posts. I agree 100% with your recommendations and conclusions. These were my original conclusions, but it was nice to read other people’s thoughts. I guess, at this point, I need to ride this out a little longer until my options become clearer…

[Tavo]

Deal Hunter,

Not necessarily in a “distressed” situation, just a stupid (cash flow negative) one by my own making. Thanks for the post….

Sdnerd,

Thanks for the well thought out response and for reading my previous posts. I agree 100% with your recommendations and conclusions. These were my original conclusions, but it was nice to read other people’s thoughts. I guess, at this point, I need to ride this out a little longer until my options become clearer…

[Tavo]

Deal Hunter,

Not necessarily in a “distressed” situation, just a stupid (cash flow negative) one by my own making. Thanks for the post….

Sdnerd,

Thanks for the well thought out response and for reading my previous posts. I agree 100% with your recommendations and conclusions. These were my original conclusions, but it was nice to read other people’s thoughts. I guess, at this point, I need to ride this out a little longer until my options become clearer…

[Tavo]

Deal Hunter,

Not necessarily in a “distressed” situation, just a stupid (cash flow negative) one by my own making. Thanks for the post….

Sdnerd,

Thanks for the well thought out response and for reading my previous posts. I agree 100% with your recommendations and conclusions. These were my original conclusions, but it was nice to read other people’s thoughts. I guess, at this point, I need to ride this out a little longer until my options become clearer…

[Tavo]

“what are the current comps on the condo & the house? And what were the prices at the peak”

Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

What say you, Sdnerd?

[Tavo]

“what are the current comps on the condo & the house? And what were the prices at the peak”

Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

What say you, Sdnerd?

[Tavo]

“what are the current comps on the condo & the house? And what were the prices at the peak”

Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

What say you, Sdnerd?

[Tavo]

“what are the current comps on the condo & the house? And what were the prices at the peak”

Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

What say you, Sdnerd?

[Tavo]

“what are the current comps on the condo & the house? And what were the prices at the peak”

Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

What say you, Sdnerd?

[Tavo]

“The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

[Tavo]

“The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

[Tavo]

“The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

[Tavo]

“The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

[Tavo]

“The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

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