Current thoughts in 2011...

[roundcorners]

P~

Great plan... check this guy out... I went to one of his seminars & he has some other variables that are broken down more clearly...

http://platinum.propertyshopper.com/index.php?path=investor.property.view.firstyear&agent_property_id=NDAwMTo4YmVjNjdiZWVmM2YxMzc0NDY0YmEzNWZjN2MwZjI0Yw==

Oak Circle
Stockbridge, GA 30281
Built in 1997, 2 Bedroom 1 Bath.

Income   Monthly   Annual
Gross Rent   $695   $8,340
Vacancy Losses   ($56)   ($667)
Operating Income   $639   $7,673

Expenses   Monthly   Annual
Property Taxes   ($97)   ($1,160)
Insurance   ($24)   ($290)
Management Fees   ($64)   ($767)
Leasing/Advertising Fees   $0   $0
Association Fees   $0   $0
Maintenance   ($21)   ($250)
Other   $0   $0
Operating Expenses   ($206)   ($2,467)

Net Performance   Monthly   Annual
Net Operating Income   $434   $5,205
- Mortgage Payments   $0   $0
= Cash Flow   $434   $5,205
+ Principal Reduction   $0   $0
+ First-Year Appreciation   $145   $1,740
= Gross Equity Income   $579   $6,945
+ Tax Savings   $0   $0
= GEI w/Tax Savings   $579   $6,945

He came up with "The Annual Gross Rent Multiplier" = Monthly Rent/House Value

Irvine - $3000/$1,000,000 = .3% - Bad Rental Market
Long Beach - $2500/$600,000 = .4% - Starting to be a decent Rental Market
In-Land Empire - $1800/$200,000 = .9% - Excellent

See if you can get 1% in Georgia...

Find a good Property Management Company... someday, I might hand you $25,000 for a DP for a Georgia house...!

[iacrenter]

Not to say that Irvine is a Porsche... it's more of a MB C Class or a BMW 3 series... lol (no offense if anyone drives any of the aforementioned cars).

Irvine is neither Porsche, MB or BMW... it is pure Unicorn.

Well... actually... more like an SUV or minivan if you really want to know.

i kept telling myself that a new 4BR SFR  with driveway in Irvine would eventually be available for $700,000, but I just don't see it happening (or will it)?

Las Ventanas... but high MRs/HOA and location may be prohibitive.

I actually wouldn't mind one of those CalPac Portisol Plan 3s in Woodbury... but those seem to never hit the market.

IHO,

I saw this home pop up on my Redfin and thought of you--don't see too many WB Portisol plans come up, thought you might like it. No 3CWG but at least it's a traditional SFR setup and in the A village of WB. 


$874,900
66 RISING SUN
Irvine, CA 92620
5 Bd, 2.5 bath, 2270sqft
http://www.redfin.com/CA/Irvine/66-Rising-Sun-92620/home/5958993

[irvinehomeowner]

IHO,

I saw this home pop up on my Redfin and thought of you--don't see too many WB Portisol plans come up, thought you might like it. No 3CWG but at least it's a traditional SFR setup and in the A village of WB. 


$874,900
66 RISING SUN
Irvine, CA 92620
5 Bd, 2.5 bath, 2270sqft
http://www.redfin.com/CA/Irvine/66-Rising-Sun-92620/home/5958993

Heh... do you have my Redfin search saved?

Love that plan... only problem... it's over $100k more than I want to pay.

Maricopa Plan 2 is probably better for less.