Friday, March 14, 2008

Get Money

So I keep wondering should I buy a condo to live in until I walk down the aisle because I'm not one for shacking up. However, it seems silly because I probably wouldn't live in all that long but I guess there is rental income potential.

I also have a friend who wants to buy something in my neighborhood. So she asked me to help her figure out the market. You can look up the tax assessment values of a property but they are usually a little lower than what the market rates are.

So I just google my address and up pops a document of area revilization. In this document it talks about the revilization on my neighborhood. So I know for sure my landlord was able to get the place I am renting through one of those first time buyes low income specials. Let me remind you that low income in DC is like 62K. So in the document it says the place was sold for 150K. She I know she is renting it illegally because she told us that she had to wait three years to rent it but her daughter needed her to live with her fo the next couple of years and then she would move back in. So in essence she's pimping the system hard. We are paying more than three times her mortgage to rent this place. She got the place well below market rates and is renting for market rate. I can't begrudge anyone getting money but damn.

The lady below us treats us like renters. It pisses me off even more because now I know what her mortgage payment is roughly. So she always has a roomate which means they are probably paying her mortgage for her. So she needs to get off her high horse because we I could pay her mortgage and then some. She treats us like we are some poor stupid renters.

1 comment:

rashad said...

Clearly I need to find such a document for my neighborhood, i'd be curious to see what's going on.