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Brian
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| 05/12/2008 1:24 PM |
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Posted By jpinpb on 05/12/2008 1:13 PM
Do 1/1 rent for 2100 for real??!!
Consider that HOA fees are $625 + property taxes ~ $600. That doesn't leave much money for debt servicing.
I find that for downtown, $3000/mo and up in rent will get you the best value for your money (relative to what you would pay to buy). For that money you can rent a condo "valued" at $1 million or more.
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Brian
Posts:2614
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Brian
Posts:2614
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Brian
Posts:2614
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Brian
Posts:2614
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Brian
Posts:2614
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| 07/03/2008 4:38 PM |
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#2004
Now $60,000 below 1/2006 purchase price. I guess the flip after two years, tax free, strategy didn't pan out.
Of course, it's tax free, because there's no profit. ;)
1205_Pacific_Hwy_2004_San_Diego_CA_92101
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wilson
Posts:670
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| 07/03/2008 7:18 PM |
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| This is hardly big news. #2204 is higher floor and listed for $30k less. |
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613867
Posts:62
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| 07/03/2008 7:37 PM |
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| Brian-it sounds like you are both a renter and owner of a home you bought in 1989. So you are both an exploiter and exploited (renter and landlord). Here is a recommendation that would be consistent with the stands that you take. 1) sell your home. if you choose, you can buy it back at some later date and a price which is substantially lower than its current market value. this summer is the last big sellers opportunity to dump your house before the big debacle. 2) Quit yelling about brokers. You and a lot of people in this forum are very bright real estate people. Why do you not have a brokers liscense??? You save half of the commission on the sale of your property and earn half the commission on the purchase of a property. it also puts you in a position to buy a foreclosure at a flip price in the off season (nov-april), put some lipstick on the pig, and make a profit in the silly season (spring and summer). Brokers in san diego between 1999 and 2006 were among the worlds most overpaid "professionals". You can beat them by joining them. |
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Brian
Posts:2614
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| 07/03/2008 9:03 PM |
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613867, what makes you think that I'm not doing what you're suggesting?
As far as selling my rentals, I have low cost and tax basis and good tenants so no I'm not selling. My 1989 house was a mistake that turned out good thanks to the latest boom. It's my lucky charm that reminds me of the cyclicality of real estate. It's in a nice suburban location and I might retire there one day.
Just because I like to poke fun at other people doesn't mean that I can't laugh at myself also. ;)
Smart business people sell the opium to make a profit but wouldn't smoke it themselves.
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Brian
Posts:2614
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| 07/03/2008 9:06 PM |
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Posted By wilson on 07/03/2008 7:18 PM
This is hardly big news. #2204 is higher floor and listed for $30k less.
Thanks for pointing it out. That makes #2004 even more overpriced.
This thread is nothing that people can't find out of their own -- just a summary of the cracks in one of best urban buildings in San Diego. |
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613867
Posts:62
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| 07/04/2008 9:30 AM |
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| Brian-buying and selling your own real estate isn't smoking opium. Its saving $15,000+/- when you list your own property and reducing your equity requirement by $15,000+/- when you buy a property. It is easy money. Along the way you can even save your friends some money by rebating part of your commission when they buy or sell. Also easy money. $15,000 here, $7,500 there, pretty soon you have $100,000. Not bad. Some pain but big gain. |
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wilson
Posts:670
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| 07/04/2008 9:50 AM |
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| Sorry, I thought this thread was more about giving more significant, relevant information rather than quantity of less signiificant info. |
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Brian
Posts:2614
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| 07/04/2008 10:12 AM |
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Posted By 613867 on 07/04/2008 9:30 AM
Brian-buying and selling your own real estate isn't smoking opium.
I was referring to your comment to quit yelling about brokers. I'm not yelling about them -- just pointing out that their smoke their own opium.
Like this one:
650_Columbia_St_418_San_Diego_CA_92101
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Brian
Posts:2614
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| 07/04/2008 10:17 AM |
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Wilson, what is not significant to you might be for someone else who reads this thread for the first time. I aim this thread to be a compendium of losses at The Grande to counter the arguments that the best addresses Downtown are increasing in value. It's all connected.... all the neighborhoods will lose value.
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wilson
Posts:670
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| 07/04/2008 10:50 AM |
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| Less is more. |
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Brian
Posts:2614
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Brian
Posts:2614
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wilson
Posts:670
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| 07/11/2008 1:39 PM |
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THE SKY IF FALLING!!! THE SKY IS FALLING!!!!
-quote from ultra-bear
I posted this on another thread also because all I see is the same stuff over and over again. |
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Brian
Posts:2614
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Brian
Posts:2614
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