Re: Bellevue Condos - Is the timing right?
I guess I asked for it...
Yes, I still have the home I bought in '06 and another I purchased in '03, the latter being cashflow positive for the past 3 years. I will be renting the '06 home and "break even" after depreciation + principal payments(obviously a cash flow loss).
Bellevue Towers is apparently not charging home owners until they are 50% sold and I guess it will close to a year to hit that land mark. Since thats not in the picture, a normal mtg payment is close-ish to what people have been asking for in rent(a little less in aparments) Having said that, if sales/rentals go down 10% its no big deal for renters, huge deal for buyers obviously.
I didn't know that the Bravern brought their list prices down 30%... makes me feel less confident that I was aggressive enough with my thought process.