Diamante Floplord

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IrvineRenter_IHB

IrvineRenter_IHB

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<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=767411">Price: $2,595</a>

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8 DIAMANTE

IRVINE, CA 92620-1903








This owner paid $690,000, on 3/13/2006, for a house which they are hoping to rent for $2,595. A price/rent ratio of 266 -- if they get that rent.





I suspect we will see many more of these over the coming months. Anybody want to guess at his monthly negative cashflow?
 
To be a profitable landlord, the ratio should be about 100-120. As a buyer, if I were looking for the breakeven point with rent, the number is about 160. A ratio greater than 200 is overpriced. A ratio greater than 250 is <em>way </em>overpriced. At the peak, this ratio was over 300 in some areas.
 
<p>Negative cashflow is probably in the 1000 range with taxes and everything. I don't know the details of the mortgage or the loan, so my guess is its a 1000 maximum. Good luck</p>

<p>-bix</p>
 
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