All Forum Posts by: Bonny Drago

@K S.wow thank you for this!! I am entertaining buying a 729K condominium in Malibu to rent it out . Will be taking a loss of 1K on rental . So now I know my answer

@Alan Wedemeyer I have the same question! Live in Thousand Oaks!

Are you going to buy cash or finance? The interest rates being high it will negative cash flow if rent out. I found a place and posted a question to see if it makes sense to buy it.

Bump

So is the good deal? 2b ,2bath condominium in Malibu , CA. No ocean views , just under a mile from the beach . Fully furnished and renovated

Asking 729K, HOA is 700$, +750 for an assessment that will end in august . Seller with pay 1/2 of that extra assessment and sell with furniture. Rent for something like this avg 5K . So basically my payment per month ~6K. So I am negative 1K/month. Is this still a good purchase ? Given the location and appreciation? I am hesitant and trying to lower price to 700k. This is my first time trying real estate investing. Own my house in California about 30-45 minutes from this place . Please help

@Kaja Baum actually the property manager came back and said it was 98K .

@Michael Baum the lessor is not the govt it is an investor. The lease is expire in 2066. The lease fee increase every 10 years . Apparently they can’t pull the lease before the term is up. But I am just curious how much revenue I need on such a place to make it a profitable one? So need to gross ~100k from daily rates and occupancy and minus the expenses and Mortgage ?

Hi I am thinking of getting into the STR business . Have been reading Avery Carl's book recommended here . Saw a 2bd 2 bathroom condo in Maui , priced at 779K ocean front good views , however it is a leasehold which expires in 30 years it is an active STR currently Apparently the current owner only made 45K last year ! Wondering if leaseholds are good option? I don't think the cash flow would be high? Honestly looking for recommendations? Like what numbers should I be looking at that would make this a good deal ?

Thank you

@Loren Clive can I ask you questions too!? I am thinking of Maui as well

@Melissa Nash omg just saw your reply ! I am still looking but this has given me pause ! I am not set on owning a house there was doing it more as a business! To start getting some cash flow ! I even thought of Oxnard by the water and Maui 😂

@Hamp Lee III thank you ! Just ordered the book last night! Yes went skiing in Big bear too !