Join John Adams, world renowned Intl Matchmaker, Thurs nights 8:30 EST for Live Webcasts with FREE Prizes!
And check out Five Reasons why you should attend a FREE Live AFA Seminar! See locations and details.


Scam free! Check out Christian Filipina - Meet Asian women with Christian values! Members screened.
Exclusive book offer! 75% off! How to Meet, Date and Marry Your Filipina Wife



View Active Topics       Latest 100 Topics       View Your Posts       FAQ Topics       Switch to Mobile


Detroit Homes Avg. $6000

Discuss culture, living, traveling, relocating, dating or anything related to North America. For those looking to relocate within the US or Canada, discuss your experiences and pros/cons of each domestic region.

Moderators: jamesbond, fschmidt

Postby gsjackson » Mon Feb 06, 2012 11:03 pm

momopi wrote:There are far better places to invest $40k cash, than one of these 446 sq ft condos in Henderson.


Especially with $400 in monthly HOA fees. They'd have to drop the price of these to almost nothing to have a chance of selling them. Investors would have no interest whatsoever. In Tucson right now you can get decent condos more than twice the size of these, with HOA fees of $160 or less, for around $30K.

These are great examples of how insane prices were during the housing bubble. All that "money" sucked out of the working economy and sent off to the financial sector as debt service. What a scam.
gsjackson
Experienced Poster
 
Posts: 1469
Joined: Sat Jun 12, 2010 2:08 pm
Location: New Orleans, LA USA







Postby Banano » Tue Feb 07, 2012 2:08 am

Guys i dont know whyyou complaining about america, that place would cost 400K in australia in a shitty suburb.

Have a look at this, its abt 15 minutes drive from where I live, building is 40 yrs old, 55cm2, area is one of the worst in melbourne, just google footscray crime and you will see, stabbing, killings, filth, people that live there are mostly blacks form Sudan and other parts of africa, asians and white trash, junkies, druggies and other not very nice ppl, everyone seems to be on welfare,in another words place is a dive and look at the price...300 K..+stamp duty another 15K ..and interest rate above 7%..

http://www.realestate.com.au/property-a ... -108316641
Banano
Veteran Poster
 
Posts: 2013
Joined: Sat Jun 11, 2011 8:26 am

Postby gsjackson » Tue Feb 07, 2012 2:30 am

Looks like Oz is still blowing up its housing bubble. Hard times when they burst.
gsjackson
Experienced Poster
 
Posts: 1469
Joined: Sat Jun 12, 2010 2:08 pm
Location: New Orleans, LA USA

Postby Taco » Tue Feb 07, 2012 3:06 am

Banano wrote:Are you sure that new house in Cebu is only $12 000?


That's filipino pricing, foreigners would probably pay more.
Taco
Elite Upper Class Poster
 
Posts: 4241
Joined: Sat Jul 09, 2011 4:30 pm

Postby momopi » Tue Feb 07, 2012 4:46 am

gsjackson wrote:
momopi wrote:There are far better places to invest $40k cash, than one of these 446 sq ft condos in Henderson.

Especially with $400 in monthly HOA fees. They'd have to drop the price of these to almost nothing to have a chance of selling them. Investors would have no interest whatsoever. In Tucson right now you can get decent condos more than twice the size of these, with HOA fees of $160 or less, for around $30K.
These are great examples of how insane prices were during the housing bubble. All that "money" sucked out of the working economy and sent off to the financial sector as debt service. What a scam.



After 12+ years of investing in new or recent-built condos in Southern CA, I've come to the conclusion that it's better to invest in older, smaller, and relatively cheap SFR's with no HOA or low HOA ($50/mo or less) on decent sized lots (5,000-10,000 sq ft). The older SFR's will require some $ up front for repairs & termite work, which the seller or bank is often willing to split with you. With no mello-roose and low HOA, your monthly cash flow is better than condos. Also, instead of buying home warranty, sock away $50/mo into a general repair fund.

The larger lots mean you (the landlord) have to pay some $$ for a gardener, but gives you the option to build expansions. Older homes tend to have fewer bathrooms, so adding a bathroom can make the property more attractive to a buyer or renter. If you trust your tenant to mow the lawn, you can look for tenants with dogs and just tell them that you can accept the dog, but they'd be responsible for the yard work and picking up after their pet. Then you save the $ on gardener.
momopi
Elite Upper Class Poster
 
Posts: 4708
Joined: Sat Sep 01, 2007 4:44 am
Location: Orange County, California

Previous

Return to North America, Domestic Relocation

Who is online

Users browsing this forum: No registered users and 1 guest