All Forum Posts by: Diane G.

@Costin I.

I bought it for $560K with $60K down.....2 weeks after close, it appraised at $680K and I refinanced it down to 4% 30 yr fixed....

Current PITI is $2990, so I am losing $190/month.... but I gained an overnight of $120K in equity...that is if I want to be conservative and NOT use Zillow estimate....

@Christopher Davis

I bought a condo from MLS in San Francisco.... closed escrow in July for $560K, and appraised at $680K last month, Zillow estimate of $757K now....

So there are deals on MLS from time to time.... you just have to check it every day...

In my case, there is a tenant paying $2600 a month when market rent is $3100.... given tough SF rent control, nobody wants to touch it...

So I bought at $560K when asking was $640K.... raised rent to $2800 now....it is a condo and exempt from rent increase control...

So you just have to keep looking

@Bryan Souza

Thanks for sharing the link.... A good article...

Definitely stay away from MFH, until the cap rate drop to a level where you can cash flow from Day 1.... You will be buying something that serves the same purpose of a bank saving account

@Steve K.

Hey thanks Steve for putting things in perspective for those of us in CA...Everything you mentioned in your comments about CA real estate is right on.... Even though the this new rent control law is very annoying, and creats losers and winners.....

@Ethan Smith

You can turn $1 into $5M overnight, in your dreams....Lol

@Amit M.

About 3 years ago, I was looking at a 8 unit MFH in Sunnyvale, and thought about buying and converting it to condo...

Looked up and down and could not find a lawyer that does condo conversion..

Made a trip to city hall, and city employees looked at me like I was alien...

All about to change soon....

@Amit M.

In Sunnyvale where I live, there has been no such thing as landlord/tenant lawyer, and there is no such thing as condo conversion....

Both are about the change.... Lol

The more I think about this new law, the funnier it gets....

This law is really good for lawyers, we should call this law the “full employment for landlord / tenant lawyers Act”.....

@Mike Franco

got it..thank you

@Joe Splitrock

I think the large apartment complex do annual raises already, the only "victim" are small MFH landlords who rent below market....

The latter will now do their annual raise religiously....and the end result is higher rent......