jspoto
Posts:217
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| 08/25/2008 11:11 AM |
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| o.k people - I feel compelled to share with you real estate investments I have been making in NY. The neighborhood I invest in has been named one of the 10 best places in America by the APA. Here is the link to their results (Hillcrest was also on the list). http://www.planning.org/greatplaces/neighborhoods/index.htm - The Elmwood neighborhood outside of Buffalo is an exciting mix of victorian homes, mom and pop shops with a strong sense of community and involvement. Here is a link to the pictures of the property. http://100norwood.shutterfly.com/ - I purchased this Triplex this year for 325k. Each floor is 1200+ sq ft 3 bed 2 bath. Each floor rents for apx 1300m. Upside - Huge rental income compared to purchase price - Downside - tough winter (increased repairs), need trustworthy management. Are you happy Jack/Jack ? |
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huntid
Posts:64
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| 08/25/2008 2:56 PM |
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| I have some investments in DC that have worked out well. I have excellent management though which is key. |
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Brian
Posts:2210
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| 08/26/2008 7:56 AM |
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I agree that there are good investment opportunities outside of California, in other states and in other countries.
But with real estate, you need local knowledge and local management. If you have to take trips there, your travel expenses will eat into your profits.
I believe that one of the best investment opportunities right now is in Havana, Cuba. Unfortunately, I don't know anyone local to partner with. When USA normalizes relations with Cuba, prices will easily quadruple.
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jspoto
Posts:217
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| 08/26/2008 9:18 AM |
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| The opportunities are fantastic in many parts of the country. My PITI on the above property is apx 1900m. I got a 30yr fixed loan at 5.875. rents are 3900m. 2000m profit on a investment of 65,000 (20% down payment) is a ROI of 37% annually - subtract management 8% and repairs of 10%,and it is still a 19% return. The GRM is 6.9 (how do you like like betty). |
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huntid
Posts:64
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| 08/28/2008 8:54 AM |
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| I wouldn't buy anything near Buffalo. What a scary dump that is. |
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jspoto
Posts:217
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| 08/28/2008 10:11 AM |
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| Isnt Washington DC the murder capital of America ? |
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