All Forum Posts by: Vik Ari

mike,

pls reply when you have some time

thank you mike for all the pointers. here are the numbers:

gross rents - $1200
market value - how do i figure this out? based on what prices comparable condos are listed in this community in the market?
amount you will finance - 20% down, 80%-mortgage

also this is a basement condo. is that a problem? i saw the condo and it has windows in all rooms. The windows are 2 layered so u can open the top portion for ventilation. The condo looks well lighted and ventilated. do i have to worry about pests?

appreciate the response.

experts pls reply

hi all,

as a newbie, i think these forums are great as I have been reading a lot of
good advice in various posts. I am in the process of acquiring by first property. Need advice on whether this is a good investment, from the pros. Obviously I am just starting out, so am a fearful as to whether I am making the right decisions. here are the details:

FSBO, built in 1980s, price is $164,900. Owner might come down a little bit, say $160K, 2B/1bath. Very good condition. excellent location, very close to highways, walking distance from community college. I did some math and cash flow looks positive. Comparable listing through realtors for other condos in the complex are $189,000

This is a condominium complex. There are 3 condos, and this is the one at
the basement level.

Couple of questions:

0. Is it a good time to buy? Are prices going down still?
1. Is owning a basement condo an issue in the future to sell? Its in
excellent shape.
2. I need to do a good CMA? But since this FSBO, how do I find history of
selling prices of comparable properties in this complex?
3. how do i find out how the rental market is in the area?

Btw, this is in middlesex county in NJ.

Appreciate all the responses,
thanks a lot,
vik

hi all,

as a newbie, i think these forums are great as I have been reading a lot of
good advice in various posts. I am in the process of acquiring by first property. Need advice on whether this is a good investment, from the pros. Obviously I am just starting out, so am a fearful as to whether I am making the right decisions. here are the details:

FSBO, built in 1980s, price is $164,900. Owner might come down a little bit, say $160K, 2B/1bath. Very good condition. excellent location, very close to highways, walking distance from community college. I did some math and cash flow looks positive. Comparable listing through realtors for other condos in the complex are $189,000

This is a condominium complex. There are 3 condos, and this is the one at
the basement level.

Couple of questions:

0. Is it a good time to buy? Are prices going down still?
1. Is owning a basement condo an issue in the future to sell? Its in
excellent shape.
2. I need to do a good CMA? But since this FSBO, how do I find history of
selling prices of comparable properties in this complex?
3. how do i find out how the rental market is in the area?

Btw, this is in middlesex county in NJ.

Appreciate all the responses,
thanks a lot,
vik

hi all,

i can figure out taking rental expenses and interest deduction on my tax return. can i also take tax depreciation as a deduction? where do i do it? experts pls help.

also, what are all the tax deductions i can take for a rental property. sorry am a newbie :)

appreciate the reply.

hi all,

i can figure out taking rental expenses and interest deduction on my tax return. can i also take tax depreciation as a deduction? where do i do it? experts pls help.

also, what are all the tax deductions i can take for a rental property. sorry am a newbie :)

appreciate the reply.

hi all,

i live in middlesex county nj. i can see properties available for sale on realtor.com and like but how can i get access to information such as :

Status:
Sale price: $
Contract Date:
Days on Market:
Closing Date:

Do I have to subscribe to MLS? Where can i do that? Subscription to MLS for middlesex is open to brokers and appraisers only? what about consumers?

thanks a lot

hi all,

i live in middlesex county nj. i can see properties available for sale on realtor.com and like but how can i get access to information such as :

Status:
Sale price: $
Contract Date:
Days on Market:
Closing Date:

Do I have to subscribe to MLS? Where can i do that?

thanks a lot

hi all,

i am new to the rental market and was thinking of acquiring and renting my first property. i have done some analysis and am waiting for the right time to acquire a property. is this the best time or should i wait longer considering the market will fall further. what is the outlook in the nect 6 mnths to a yr

thanks,
vik