All Forum Posts by: Account Closed

Thanks for your replies and insights, there was many things you thought of that didn't cross my mind.
If you want to live in proper Boston your only two options really are rent an apartment or buy a condo. There are a few SFR but those are always a $million plus.

Jeffrey: you suggested finding an REO in an established building, this sounds great. Are there any sources of REO listings available?

I know living in a condo has its downsides and upsides because typically the condo fees are very high and the board is rather generous with them.

Vic: thanks for the links, it is interesting to see results of other auctions to see if any deals can really be had.

I plan to buy and live in the condo for 5-7 years and then if it makes sense rent it out. Rent right now for a 1 BR in this area is $2200 and 2 BR you could get $2800 for a luxury building.

Hello,

I live in the Boston area and been looking at condos for a primary residence. Recently a new complex of condos has been listed that the condos will be auctioned off. 25 of 31 condos will be auctioned off, the other 6 have already sold. The complex has been completed for about 1.5 years and the condo market in Boston has been pretty bad since mid 2008.

I haven't purchased RE through an auction before, so I was looking for some insight if anyone has any experience with them. The developer has listed the "minimum starting price" for each unit and has quoted them to be >50% off the "last asking price". Most of the last asking prices are ridiculous, close to 30% more than anything would even sell, they are just trying to market it as good deal.

My main question is what can I expect units to be sold for compared to the starting bids? Will they get bid up to 80-90% of their accessed values thus not making these deals?

Thanks.

Here is the marketing fluff:

Hi,

I just bought a a condo in a large building of 20+ condos, it is currently being rented out to a tenant. I am trying to figure out what my building / land ratio would be, for depreciation purposes.

How exactly do I find this? According to the online accessor page for my condo the land value is 0. Is this right? Or should it be the building's land value divided by the number of condos on the land?

Thanks,
Rishi

I did look at Amazon but most books I found were in regards to hospitality careers, not really investing in hotels and analysis of their incomes.

For example:
http://www.amazon.com/o/ASIN/0071458700/

If you know any exact books for something like this, I would love to know their titles.

Thanks again.
RishiD

Hi,

I currently own an apartment building and have had it for 12 years. I am looking to invest in a hotel in the area, but have no experience with the hotel industry what-so-ever.

Can anyone recommend some reading material to help me get acquainted? Analyzing hotels/motels are far more complex than I initially imagined.

Thanks,
RishiD