patrick.net

1) Its crazy how much prices were inflates at the peak back in 2008.

2) whoever ones it is getting desperate to unload it.

3) I suspect the 3/28/12 sale for $90k was a bank taking it back as part of a foreclosure.

Fair market value for my home (today) is still more than 10% less than what the prior owner paid in 2003!

I picked it up direct from the bank (foreclosure) and its appreciated over 30% in just over 7 years, relative to what I paid.

By low, sell high. (Or hold) easy to say. Hard to do.

The interesting thing is Zillow now shows the size of thr owners mortgage when you click on a properties value. I find it amazing how many people have huge mortgages.

Dholliday126 says

The interesting is Zillow now shows the size of thr owners mortgage when you click on a properties value. I find it amazing how many people have huge mortgages.

I can't duplicate this.

On zillow, scroll in on a non-listed property until you see a grey dot with the "zestimate", click on it, scroll down and it should tell you the profits, including mortgage and closing costs... maybe just works in Los Angeles or in metros...it's because they are increasing getting into the home buying business.

Story: this property is a condo hotel room at the platinum hotel in Las vegas. All units sold for between $300k-$1million in 60 days in 2006.

This price is less than build cost.

I am currently renting short term in this hotel which is how I found this deal. Very nice!

Also totally empty. I may be the only resident on my floor. I have an entire floor in the garage to myself...its a fancy and functioning ghost town.

If I buy this place for $126k, then pay $750 a month in assessments its still a great rental replacement! What are the potential risks of investing into a failing hotel though?

I have buddies coming into town to film a commercial for my business. I looked in this place and rooms are $180 all in for a night. I put them up in the LinQ, 2 blocks away on the strip for $80/night.

I love the idea of living here for $1500/month. I don't love the idea of investing into a failing hotel.

Isn't that just the "Estimated remaining mortgage"?