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If a recession does come, do you see newly built IR 2 bedroom condos dropping 20-30% from their current price? Example a attached condo sold for 550k now will be sold for 165k less =  385k? Did such a drop happen in 2012-2013? Please share thoughts, i have been told by numerous realtors that IR...

Perhaps, i am not a Tustin/OC boy....just moving in IR soon...so will have a pretty solid idea about the neighboring cities... i have been to IR/NewPort/Huntington/Laguna multiple times, but thats about it for my OC experience...as i have been living in Pasadena

I drove through BP area and went to their sales office where they mentioned about a plan of building 9500+ homes in next 5+ years in there. On my drive back out of IR to LA, Google maps diverted me to some place in Tustin and i was kinda blow away by the ghett-o-ness i felt driving through or i...

Sounds unbelievable as i thought it will be easily a $150/mo bill for a condo

The POT culture in Colorado seems to have shot the market rental prices off the roof on those rental incomes, perhaps the folks following the news on marijuana being legal made tonnes of money by buying in CO in 2013 and reaping the benefits with the pot legalization from Jan 1,2014 (there's a...

Thanks Panda for the encouragement and to top it off, she will be an Army Reserve Veteran too + an IT company owner or 55% share-holder (minority woman owned business enterprise license is what we will get) -so i believe we are looking at significant tax benefits considering army and real estate...

Please back up that statement with an example, whats special about east IR? Sorry, i just moved to Portola, so trying to learn it all about this insanely-awesome-over-hyped-super-pricey city of IR. Also, how many of would you vouch that a single level condo (1544 sq ft) will sell out for 550k...

A BIG THANK you Panda for sharing some deep insights. Since my spouse is going to work on in the near future to be an agent & a broker eventually and dive into real-estate market soon, scoring 750 hours of work per year (16 hours * 52 weeks = well above 750) is certainly possible and this means...

Yes my numbers are different to show the original poster (OP) that renting his 850k house is way worse than renting a 550k condo, because even on that, i have projected a net loss of 10k/year with 5% vacancy rate, home insurance/HOA/Mello-Roos/Property Tax etc....and only smart accounting can...

Oops, ok here's the math on that: 2900*12 = $34,500 + 100k = 134,500 and now deduct the 10k rental losses, apparently never going to touch 150k lol :)

Can you please elaborate on this formula with a real world example?

Oh no :(, there has to be some sort of a tax gimmick somewhere buried in the books because that leaves potential folks who want to rent out their properties in a bad situation. If the rental payments were equalling the mortgage amount, i can understand that we cannot claim mortgage interest tax...

Sorry but i dont agree with the thoughts above, now picture this scenario: 1.You bought a brand new 2bed/2.5 bath 1600 sq ft condo for 550k @3.75% interest rate, $315/mo hOA and $3205 Mello Roos/Year, $450/year Home Insurance and you rent it out for $2900/month and there are property managers...

That is some very good old fashioned solid advice Panda, i couldn't agree more, however for a 1st time home-owner like myself, i do see buying in IR as a + not because of good rental opportunities here, but in the longer term, i myself want to live there as well. If i had no interest in living...

I agree as i am looking at a future of putting in $500/month out of my own pocket in a best case scenario even after i am successful by renting out the 2 bed room condo i own out for $2900/month

So as a new condo buyer, we literally have no control over how the city of IR decides to play with our lives? Nobody is going bankrupt in a little increase but my issue is credibility of the county folks or whoever is involved in hiking prices for another 30 years minimum

Guys, I have read extensively about how owners title insurance policy is really important as widely posted by realtors/lawyers/title companies but another reality posted is also about title companies purely making easy money and this owner title insurance policy doesn't do much...

Thanks for helping out, the escrow guys simply asked me to have my spouse sign in front of a notary the Interspousal Transfer Grant Deed and sign a Interspousal domestic deed instructions doc and thats it...!

What towns are you referring to ? IR? LA?

To put it in simpler words: FCB --> Chinese Kids with millionaire parents who bought them another house in IR all cash MEB: Middle Eastern Boys--> Filthy Rich Oil Parents, bought the kids another mansion of their choice I am financing my own sh***t