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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (63435)10/7/2006 2:42:00 PM
From: pheilman_Read Replies (2) of 306849
 
This is a strange conversation. Guess it is my engineering background, I just look at the numbers.

To obtain the monthly utility of living in the Condo:

Rent   1,600 
or
Own    1,745 (interest on 419k at 5%)
           ?  principal, insurance, ...
         500  rough estimate of property taxes
         500  rough estimate of association fees.
 total 2,745  (Carrying costs)

Gift from "owner" to renter is $1,100 per month.

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