[urbanrealtor]

I am really glad to see this getting more airtime.

I have threatened to cancel escrow several times recently when a bank or the overtaxed escrow firm they contract with have failed to order or deliver hoa docs in a timely manner.

It really is important. This is especially true during the abbreviated inspection period that most bank-sellers want buyers to abide by.

EG: If you have a 7-day inspection contingency that is removed passively (like it ceases to exist when the appropriate date passes) and the seller bank delivers hoa docs on day 8 showing 2 special assessments of 10,000 each, you might be in a shitty situation where you have to give up either on the deposit or eat the assessment cost. If this happens, you can fight it but succeeding might involve attorneys or courts.

Point is, really make sure you get this as a buyer and that your agent knows how to read it.
Good luck.

[urbanrealtor]

I am really glad to see this getting more airtime.

I have threatened to cancel escrow several times recently when a bank or the overtaxed escrow firm they contract with have failed to order or deliver hoa docs in a timely manner.

It really is important. This is especially true during the abbreviated inspection period that most bank-sellers want buyers to abide by.

EG: If you have a 7-day inspection contingency that is removed passively (like it ceases to exist when the appropriate date passes) and the seller bank delivers hoa docs on day 8 showing 2 special assessments of 10,000 each, you might be in a shitty situation where you have to give up either on the deposit or eat the assessment cost. If this happens, you can fight it but succeeding might involve attorneys or courts.

Point is, really make sure you get this as a buyer and that your agent knows how to read it.
Good luck.

[urbanrealtor]

On this topic, there are several places in my complex that pull rent of 1100/mth and are for sale for 135k. The HOAs are 233/mth. This means that the effective rent is 867/mth. At full asking that is a 7.7% return. At 110k that is a 9.4% return. The last one to close (an REDC auction) closed at 105k. This is about 10% return. While 105 seems low, I think the 110k is where we are headed.

At the current asking prices, we are seeing offers and closings happen regularly.

[urbanrealtor]

On this topic, there are several places in my complex that pull rent of 1100/mth and are for sale for 135k. The HOAs are 233/mth. This means that the effective rent is 867/mth. At full asking that is a 7.7% return. At 110k that is a 9.4% return. The last one to close (an REDC auction) closed at 105k. This is about 10% return. While 105 seems low, I think the 110k is where we are headed.

At the current asking prices, we are seeing offers and closings happen regularly.

[urbanrealtor]

On this topic, there are several places in my complex that pull rent of 1100/mth and are for sale for 135k. The HOAs are 233/mth. This means that the effective rent is 867/mth. At full asking that is a 7.7% return. At 110k that is a 9.4% return. The last one to close (an REDC auction) closed at 105k. This is about 10% return. While 105 seems low, I think the 110k is where we are headed.

At the current asking prices, we are seeing offers and closings happen regularly.

[urbanrealtor]

On this topic, there are several places in my complex that pull rent of 1100/mth and are for sale for 135k. The HOAs are 233/mth. This means that the effective rent is 867/mth. At full asking that is a 7.7% return. At 110k that is a 9.4% return. The last one to close (an REDC auction) closed at 105k. This is about 10% return. While 105 seems low, I think the 110k is where we are headed.

At the current asking prices, we are seeing offers and closings happen regularly.

[urbanrealtor]

On this topic, there are several places in my complex that pull rent of 1100/mth and are for sale for 135k. The HOAs are 233/mth. This means that the effective rent is 867/mth. At full asking that is a 7.7% return. At 110k that is a 9.4% return. The last one to close (an REDC auction) closed at 105k. This is about 10% return. While 105 seems low, I think the 110k is where we are headed.

At the current asking prices, we are seeing offers and closings happen regularly.

[urbanrealtor]

Aside from being from the city of Tarantula, I think you seem like reasonably intelligent chap, TG. The point you are making is valid.
The concern about mobility becomes irrelevant once you achieve a certain minimum level of return. If I bought in Tarantula or Manatee (menifee) it would be irrelevant if I got transferred. It would mean that I have an asset that pays for itself and kicks out a check each month. In some ways, that makes it better than a primary residence.

Regarding Diego’s remarks, the mods I would make to this are that at 100x monthly rent, the property is essentially a golden goose. Think about that number. 100x monthly is the same as 8 x yearly. That means 100% return on investment in 8 years. That’s a 12% return annually. Of course there are other costs as an owner (eg: repairs, taxes, vacancy). These might be offset by the yearly rental increase. However, if one could get something at 100xmonthly (or even 150x monthly for that matter), then they probably would. One caveat: calculating that monthly means backing out the cost of any association dues.

Combine this with some of the tax credits in the works and some of those just being considered and it really adjusts the whole purchasing calculus.

[urbanrealtor]

Aside from being from the city of Tarantula, I think you seem like reasonably intelligent chap, TG. The point you are making is valid.
The concern about mobility becomes irrelevant once you achieve a certain minimum level of return. If I bought in Tarantula or Manatee (menifee) it would be irrelevant if I got transferred. It would mean that I have an asset that pays for itself and kicks out a check each month. In some ways, that makes it better than a primary residence.

Regarding Diego’s remarks, the mods I would make to this are that at 100x monthly rent, the property is essentially a golden goose. Think about that number. 100x monthly is the same as 8 x yearly. That means 100% return on investment in 8 years. That’s a 12% return annually. Of course there are other costs as an owner (eg: repairs, taxes, vacancy). These might be offset by the yearly rental increase. However, if one could get something at 100xmonthly (or even 150x monthly for that matter), then they probably would. One caveat: calculating that monthly means backing out the cost of any association dues.

Combine this with some of the tax credits in the works and some of those just being considered and it really adjusts the whole purchasing calculus.

[urbanrealtor]

Aside from being from the city of Tarantula, I think you seem like reasonably intelligent chap, TG. The point you are making is valid.
The concern about mobility becomes irrelevant once you achieve a certain minimum level of return. If I bought in Tarantula or Manatee (menifee) it would be irrelevant if I got transferred. It would mean that I have an asset that pays for itself and kicks out a check each month. In some ways, that makes it better than a primary residence.

Regarding Diego’s remarks, the mods I would make to this are that at 100x monthly rent, the property is essentially a golden goose. Think about that number. 100x monthly is the same as 8 x yearly. That means 100% return on investment in 8 years. That’s a 12% return annually. Of course there are other costs as an owner (eg: repairs, taxes, vacancy). These might be offset by the yearly rental increase. However, if one could get something at 100xmonthly (or even 150x monthly for that matter), then they probably would. One caveat: calculating that monthly means backing out the cost of any association dues.

Combine this with some of the tax credits in the works and some of those just being considered and it really adjusts the whole purchasing calculus.

[urbanrealtor]

Aside from being from the city of Tarantula, I think you seem like reasonably intelligent chap, TG. The point you are making is valid.
The concern about mobility becomes irrelevant once you achieve a certain minimum level of return. If I bought in Tarantula or Manatee (menifee) it would be irrelevant if I got transferred. It would mean that I have an asset that pays for itself and kicks out a check each month. In some ways, that makes it better than a primary residence.

Regarding Diego’s remarks, the mods I would make to this are that at 100x monthly rent, the property is essentially a golden goose. Think about that number. 100x monthly is the same as 8 x yearly. That means 100% return on investment in 8 years. That’s a 12% return annually. Of course there are other costs as an owner (eg: repairs, taxes, vacancy). These might be offset by the yearly rental increase. However, if one could get something at 100xmonthly (or even 150x monthly for that matter), then they probably would. One caveat: calculating that monthly means backing out the cost of any association dues.

Combine this with some of the tax credits in the works and some of those just being considered and it really adjusts the whole purchasing calculus.

[urbanrealtor]

Aside from being from the city of Tarantula, I think you seem like reasonably intelligent chap, TG. The point you are making is valid.
The concern about mobility becomes irrelevant once you achieve a certain minimum level of return. If I bought in Tarantula or Manatee (menifee) it would be irrelevant if I got transferred. It would mean that I have an asset that pays for itself and kicks out a check each month. In some ways, that makes it better than a primary residence.

Regarding Diego’s remarks, the mods I would make to this are that at 100x monthly rent, the property is essentially a golden goose. Think about that number. 100x monthly is the same as 8 x yearly. That means 100% return on investment in 8 years. That’s a 12% return annually. Of course there are other costs as an owner (eg: repairs, taxes, vacancy). These might be offset by the yearly rental increase. However, if one could get something at 100xmonthly (or even 150x monthly for that matter), then they probably would. One caveat: calculating that monthly means backing out the cost of any association dues.

Combine this with some of the tax credits in the works and some of those just being considered and it really adjusts the whole purchasing calculus.

[urbanrealtor]

I doubt your going to make money selling pics of foreclosures right now. Regardless of how neat they look.

Its a bit like finding a rainbow flag in my neighborhood.

I am curious where this is though.

[urbanrealtor]

I doubt your going to make money selling pics of foreclosures right now. Regardless of how neat they look.

Its a bit like finding a rainbow flag in my neighborhood.

I am curious where this is though.

[urbanrealtor]

I doubt your going to make money selling pics of foreclosures right now. Regardless of how neat they look.

Its a bit like finding a rainbow flag in my neighborhood.

I am curious where this is though.

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