Mortgage Blog

Good Time to Purchase?

February 2nd, 2011 9:05 AM by Eric Fang

One common questions from my clients(old or new)
is whether this is a good time buy?

Usually I will give the answer: depends. For
most of the areas, the answer would be yes.

Here are some of the examples of the investment
properties I closed last week:
1)San Jose 95123. Purchase 450k.
Monthly mortgage $1890. Property tax plus $540.
Total $2430. the rental income $2200.
A little bit negative.

2)Elk Grove 95757.  Purchase price 245k.
PITI: $1340. Rental $1600

3)Elk Grove 95624. Purchase 224k.
PITI $1250. Rental $1500.

All the above properties are on the good
tenants areas. So the concultion is:
as long as the cash-flow is good, it's
a good buy.

Like anything else, it's very hard to catch
the bottom. Personally I think the RE market
is close to the bottom, though the bottom will
be a few years.

Posted in:General
Posted by Eric Fang on February 2nd, 2011 9:05 AM



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