patrick.net

Hmmm, maybe that investor will actually make money. I don't know the rents in that area, just guessed $1,200 since it's a 1BR.

Patrick, rent is probably even higher than that. I haven't shopped it lately in SJ but as of 2005 spring it would have easily brought $1500+ in rent. Did you factor in HOA? That could be a big deal especially in complexes that are half-empty (could go up in a big way).

I am actually starting to see where buying, in some areas of the bay area could save me money. Caveat: if I could be comfortable in the place. Now if I could find something like this up the pennisula I might be a buyer.

http://sfbay.craigslist.org/sby/apa/1489750314.html

1200 is probably about right

I didn't factor in HOA. That's like adding a point to the interest rate, I think. So HOA might tip the balance and make it cheaper to rent.

I am seeing these kinda listing all over the place, especially SJ. I really wish these greedy investors lose their shirt. Wants 25% return for 224,876? WTH is he thinking?

If I wanted it, I might go in and offer EXACTLY what they paid a few months ago. That is, *if* I wanted it.

pkowen says

If I wanted it, I might go in and offer EXACTLY what they paid a few months ago. That is, *if* I wanted it.

I dont have a problem if they bought it by public bidding or something else. All these are mostly listed as "corporate owned", they buy before the public even gets it. I wish some DA finds this shady deals and prosecutes them.