Condos....

tyler

I like pie.
Staff member
Any of you that own condos, did you go in with another person? I want to get a condo down there, but it seems silly to purchase the entire thing, as I'm never down there so I'd be mostly using it for rental income (whenever it comes back)

I wanted to hear any stories of successes/failures on going in with another person.
 

AZ ROB

Well Known Member
I bought a condo at the Sonoran Spa the first of April. I got what I think to be a good deal. I have it in the rental pool but I also block 2 weekends a month. so far it has rented 80% of the open weekends. for me this is a success as it covers my HOA fees and my electric and all the other fees associated with the condo. We didn't buy it to make money but these extra dollars when I am not using it are nice. On the contrary I have a friend who bought a 3 bedroom at the Sonoran Sea and his is rented out every weekend thru Sept. so he wont be able to go down at all this summer.
 

tyler

I like pie.
Staff member
I bought a condo at the Sonoran Spa the first of April. I got what I think to be a good deal. I have it in the rental pool but I also block 2 weekends a month. so far it has rented 80% of the open weekends. for me this is a success as it covers my HOA fees and my electric and all the other fees associated with the condo. We didn't buy it to make money but these extra dollars when I am not using it are nice. On the contrary I have a friend who bought a 3 bedroom at the Sonoran Sea and his is rented out every weekend thru Sept. so he wont be able to go down at all this summer.
What about the loan for it? Do you make any money off of it? Your post makes it seem like you're only getting the utilities paid.
 

azdiva

Well Known Member
I think the bottom on Condo prices is still years ahead

Sandy Beach Condos... 1 BR 3 nights, Beer, Super Ley, Shrimp Coctail, Gas, More Beer, Tacos,
$500.00 per couple for a weekend. Who does it for Less. Let's not even talk about bringing down
Costco groceries or a night of dancing at Changos. Spending money like this is getting scarce. Now some
school districts are talking about 4 day school week,Mondays closed to save money. Now we might
have famillies for 3 day weekends renting condos, that could be pushing $700 to $800 weekends. I think
the condo owners and RP businesses are pushing on a string here.
 

mis2810

Well Known Member
Sandy Beach Condos... 1 BR 3 nights, Beer, Super Ley, Shrimp Coctail, Gas, More Beer, Tacos,
$500.00 per couple for a weekend. Who does it for Less. Let's not even talk about bringing down
Costco groceries or a night of dancing at Changos. Spending money like this is getting scarce. Now some
school districts are talking about 4 day school week,Mondays closed to save money. Now we might
have famillies for 3 day weekends renting condos, that could be pushing $700 to $800 weekends. I think
the condo owners and RP businesses are pushing on a string here.
Huh? I'm so not following you. Is it me? Are you saying it's a cheap weekend or not? When you think about how much $$$ people spend to go to San Diego - 6 hour drive - more gas, hotels way more expensive, you can't take a damn beer on the beach, the food is expensive, etc. I think Rocky Point is the cheapest vacation around. I don't need to go to Chango's.
 
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azbeachboy

Guest
I just got this tonight from a friend.
Hi,
I wont be in Rocky Point for the summer so If I am trying to help the owner out by passing on the 411

Beachfront, 2 queen bed 2 bath
you can work from here too with the internet
$2000 for the month
available June-October
email me if you want more info or if its for you in particular, negotiable
 

AZ ROB

Well Known Member
What about the loan for it? Do you make any money off of it? Your post makes it seem like you're only getting the utilities paid.
Tyler I bought the condo to have a place to relax We used to go to San Diego 1 weekend every couple of months and that would set us back a grand for a 4 day weekend.
luckily we got a great deal with a 20yr loan (no balloon payments and a low down) so our payment is a little more than a new truck payment. We did get our first check from RPR for the month of April and suprise suprise it was enough to cover Hacienda tax, electric and 3 months of hoa fees. I still managed to spend 8 days in april in our own condo to boot. We went into this knowing we may never get renters in and I was ok with that. There have been a few thursdays I have been sitting at my desk at 11:00 am thinking I can be at the beach by 4 if I hurry. Call it what you want but I feel we went in with the right attitude combined with a great deal Prices have gone up 11% since I bought.
 

rockyptjoe

Well Known Member
I just got this tonight from a friend.
Hi,
I wont be in Rocky Point for the summer so If I am trying to help the owner out by passing on the 411

Beachfront, 2 queen bed 2 bath
you can work from here too with the internet
$2000 for the month
available June-October
email me if you want more info or if its for you in particular, negotiable
Chuck.....if you check the listings, there are several condos available in the $1200-1600 range for a month. Don't know the terms (monthly or longer).....
 
S

Submarine

Guest
I would buy an empty beach front lot outside of town and then a nice trailer to use on it. You wouldn't have to worry about HOA fees or all that related bullshit and later you could either sell it if the property became more valuable or have Jerry build a nice concrete house it.
 
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rajulratna

Guest
I would like to share this information
There are really lots of scammers today like Laeeque Ahmad

Nowadays real estate business become bigger and bigger especially in Canada..Because of this, there are really lots of people who are abusing this..

My dad bought a house from him, we do regret working with Laeeque because he played both sides and made us pay extra money on the side assuring us we would get the price we wanted for the property if we did so. My dad paid him $2000 and ended up paying asking price for the house after that. Laeeque is an asshole
 
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rajulratna

Guest
Hi Guyz! I know that this is off-topic but I just want to share this to you..
There are really lots of scammers today like Laeeque Ahmad

Nowadays real estate business become bigger and bigger especially in Canada..Because of this, there are really lots of people who are abusing this like him..

My dad bought a house from him, we do regret working with Laeeque because he played both sides and made us pay extra money on the side assuring us we would get the price we wanted for the property if we did so. My dad paid him $2000 and ended up paying asking price for the house after that. Laeeque is an asshole.
 

loco

Active Member
My girlfriend and I bought a condo in DEC of 2008. we rent it out to help with the monthly payment. 2009 SUCKED for Rentals but 2010 has been really good. In 2009 we went to Penasco 23 times, so far this year weve only been down 4 times. Why ? Because we've had it rented out all year so far. That a Good problem to have.
Any of you that own condos, did you go in with another person? I want to get a condo down there, but it seems silly to purchase the entire thing, as I'm never down there so I'd be mostly using it for rental income (whenever it comes back)

I wanted to hear any stories of successes/failures on going in with another person.
 

mis2810

Well Known Member
My girlfriend and I bought a condo in DEC of 2008. we rent it out to help with the monthly payment. 2009 SUCKED for Rentals but 2010 has been really good. In 2009 we went to Penasco 23 times, so far this year weve only been down 4 times. Why ? Because we've had it rented out all year so far. That a Good problem to have.
Loco - where is it?
 
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