Tango at Concord Park Place (Concord Adex) - Real Estate -

jonathanyu said:
hey RIc - does +ve cash flow depend on the percentage of the down payment?
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Say interest rate is 5%... monthly interest is about $940 (assuming 25% down)
Condo Fee is about $300
Property Tax is about $300

You need to rent it out for at least $1540 to break even. If you hire an agent to find the tenant, you need to pay 1 month of rent as fees. Then the rent must be at least $1680 to break even. There may be other fees I missed.
 
I just receive a call from my agent. she told me there is a 20k price increase on the floor 28 units.

can anyone verify this message please?


if it is even true, i feel it is a deveoper selling strategy since 292k is not cheap at all
 
zhouyanca said:
I just receive a call from my agent. she told me there is a 20k price increase on the floor 28 units.

can anyone verify this message please?


if it is even true, i feel it is a deveoper selling strategy since 292k is not cheap at all
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does this confirm or not?

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jonathanyu said:
does this confirm or not?

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It's only a $5k price hike. From 5th to 28th, 20 floors premium ($1x00 1B, $2000, 2B) . 9' ceiling $10k premium.

For a 2B unit (28th floor), 5000 + 2000 * 20 + 10000 = $55000!!! Don't forget the $25k parking spot on top of that.
 
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aibo said:
It's only a $5k price hike. From 5th to 28th, 20 floors premium ($1x00 1B, $2000, 2B) . 9' ceiling $10k premium.

For a 2B unit (28th floor), 5000 + 2000 * 20 + 10000 = $55000!!! Don't forget the $25k parking spot on top of that.
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she said it is a 20k hike instead, so inteading of selling them on june 26th, they now plan to sell in mid-july

someone pls confirm this msg
 
aibo said:
It's only a $5k price hike. From 5th to 28th, 20 floors premium ($1x00 1B, $2000, 2B) . 9' ceiling $10k premium.

For a 2B unit (28th floor), 5000 + 2000 * 20 + 10000 = $55000!!! Don't forget the $25k parking spot on top of that.
Click to expand...

I got this too! Went to the sales office today, said the VIP event on 23rd was cancelled, now they are going straight to public sale without any vip discount!
 
g4suaij said:
I got this too! Went to the sales office today, said the VIP event on 23rd was cancelled, now they are going straight to public sale without any vip discount!
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Probably means they have been getting a lot of inquiry and demand for units
 
jonathanyu said:
hey RIc - does +ve cash flow depend on the percentage of the down payment?
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Yes. However, my cash flow analysis is based on investment properties, which require at least 20% downpayment. Thus all my analysis are based on 20%.
 
js123 said:
Hey Ric,

what do you think of the higher floors that were bought with the discounts, as an investment?
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I did cash flow analysis on the higher floors based on the VIP pricing( with discounts). I was not able to break even with a 20% deposit. Granted, I used the builder 5yr fixed cap rate of 6.1% (I always used the builder rate in my analysis as this is the only rate that is secured for 2014).
 
aibo said:
Say interest rate is 5%... monthly interest is about $940 (assuming 25% down)
Condo Fee is about $300
Property Tax is about $300

You need to rent it out for at least $1540 to break even. If you hire an agent to find the tenant, you need to pay 1 month of rent as fees. Then the rent must be at least $1680 to break even. There may be other fees I missed.
Click to expand...

Rental rates are in the $1200-1400 range in the area for a 600 sq.ft unit. You also need to budget vacancy ( half to one months rent) and maintenance of your unit (paint, carpet cleaning etc.) plus rise in maintenance fees after the first year.
 
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