Hadn't looked in a long time, but tax records for N Beach sow around 80 units
in Paramounts name. Not sure how many of those remain unfinished, rented by
them, or finished and vacant. SO more then half "unsold".
that does little for you. I think I saw a 2 bed there going for 309k. That
unit, tax abated taxes are just $3400.
Wesley grove is advertising 4 unsold. Not sure which units. At least one I
recall was a real waste - at least in my view. One listing is for a unit by MM
is for $339,00. With tax abatement taxes are "only" around $5000.
Griffin - maybe 15 units up. Not sure. A $649,000 unit there, taxes are looking
at $7700.
While at the Blu, a $256000 "blowout" price, taxes are $7,000.
MLS shows 91 condos for sale, which includes some listed here, but not all that
are up in some conversions. And then there are those like yourself, with homes
you'd like to sell, but from what you say are more or less stuck. Stuck unless
you look at your numbers, life etc and do that american thing and say f-it.
Hire a local attorney (there;s a few), stop paying your mortgage and the rest
on a home that is "underwater". Pocket the cash and save it. Why pay on a
losing "investment"?
Well, that's the real bullshit and why the system is screwed up.
Sales suck unless you have cash. You need f[in perfect credit and you need your
home to appraise. Good luck all the way around.
I inquired the other day about refinancing from 6% on my home down to 7-7.5 on
my rentals.
What a joke. I currently pay, on time, a mortgage on tiny equity loan on my
home, and mortgages, on time, on 3 rentals with 3 mortgages and another small
equity line that is closed. Car loans, one existing - never late. Cards, paid
off or on time. On own a couple houses free and clear. Like a schmuck I worked
my ass off as did my wife to "do it right"...
I had one f-up a tax lien that I paid off sooner then I had to. That;s because
tenant's don't get arrested for stealing (not paying rent). They just move on
to the next schmuck of a landlord.
My point is, RENTALS, priced to rent, will rent.
It;s one of the lastest "trends" in housing and that's why there's money going
into it.
Rental owner Developing the rental and holding it for themselves. It's where
the old farts after WWII made their money and many of those families never sold
these investments.
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