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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (47278)1/18/2006 11:12:50 AM
From: SGJRead Replies (1) | Respond to of 306849
 
The article you posted talked about single family homeowners with no down payment starter homes under $150K, not condo's in CA and FL. Thats where my comments were directed. I believe those guys will be safe.



To: John Vosilla who wrote (47278)1/18/2006 11:22:45 AM
From: KMRead Replies (3) | Respond to of 306849
 
I have a friend who bought a lot of condos in the NE Dallas area in the early 90s for $10K and $15K each. I'm talking a hundred of them. She rents them out to minorities for $600 a month each. Nice. But it's an incredible headache for her.



To: John Vosilla who wrote (47278)1/18/2006 12:53:10 PM
From: bentwayRead Replies (1) | Respond to of 306849
 
"Gee how about those starter condos that dropped from $50-60k to $10-20k?"

I bought one of those in Austin, and wished I'd bought three! Sold it seven years later for 3x it's mortgage value, after renting and getting small positive cash flow on it for 5 years - with the same tenant.


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