Whoa this guy is really under water....

NEW -> Contingent Buyer Assistance Program
Woodbury.

I won't make an offer cuz of feng shui and i dont like condos,but i think someone will take it at that 545k price. its more than 10% lower than the comps.

Simple Calculation:

At $545k / 0 down / io loan, we're looking at about $2500/mo after income tax deduction

$545000 x 8% (interest/association/mello roos) - 30% (income tax deduction) = $30,xxx, or $2500/mo

This is about how much this floor plan goes for in woodbury. My friend has the same floor plan 2 doors down, rents for $2400/mo.
 
You can't do 100% financing anymore. You'd have to put $128,000 down to get to 417k loan amt.

417k @ 6.5% IO = $2,258.75

taxes = 568 a month at least

HOA = 331 a month per red fin

Total monthly outlay = $3,158

tax break on interest amounts to 678 a month assuming 30% tax rate

$2,480 AFTER TAX NET PMT (also no more 128k saved!)

Rent for 2,400 a month and keep 128k in 5.25% 6 mos CD

interest earned = $560 per month gross. After 30% tax =$392 a month

$2,008 NET OF INTEREST INCOME (also still have 128k chillin in the bank w/no mortgage debt)

 
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