“Hi Gary. We have a pretty nice house in UC, worth around 850,000. We want to scale down and buy a condo. Do you think we should keep the house as a rental?”
***ANSWER:
Expensive homes make no financial sense as a rental in San Diego. Your cash on cash return will likely be 2-3%. Not a […]
“Should I let the buyer move in early to make repairs?”
***ANSWER:
NO!
Letting the buyer of a property move in before closing for ANY reason is WAY too risky. Let me count the ways:
1. Liability for injury, etc.
2. Possibility they may change their mind once they’ve spent a few nights.
3. See the “True Story” above.
4. If the […]
“Hi Gary, love the blog. I want to sell my condo and a Realtor suggested a price based not only on comps, but also on condo conversions in the area for sale. She feels the ‘new everything’ in the conversions (plus the 4% commission to the broker) makes for tough competition to standard resale condos. […]