Quote:
Originally posted by Porsche-O-Phile
I have a co-worker of mine that got suckered into a $450,000 house (mind you, this is a 600 sq. ft. bungalow built in the 1920s in a ****hole neighborhood where she's the only one that speaks English as a first language).
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$750/SF. Mercy, you guys are in for a brutal ride out there.
Wayne, I had no idea the numbers were so upside down in SoCal. Presuming your landlord keeps expenses below 20% of income, his CAP rate is 3.2%. 10 yr treasury bond yields have fallen to 4.63%. He either knows something we don't, or he has a fetish for pain and suffering. I'm banking on the later case.
jurgen