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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (14193)10/7/2003 2:49:08 PM
From: fattyRead Replies (2) of 306849
 
>A better sign of a bottom is when you can't even get pennies on the dollar. The property is totally worthless because no one wants it. Only a real gutsy person with money to burn would venture into this type of bottom, so is it a bottom at all? (Philosophical question.)

I'm only looking for a bottom where if you pay 20% downpayment, the rental income should be able to cover the expenses and the 30 year mortgage. There is not such properties in Boston. You will need to put down a 30-40% at the current price level.
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