I hear ya about the cost! I am figuring that I am going to be able to write off about $50k in interest, taxes and other deductions. I have almost cut my taxes in half. I'm also renting in Ventura at $1700/mo. I stayed up late after I signed my agreement thinking of how I was going to make it work. With the right offs, it works for me. Hopefully it works for you. It is a great investment.I was going to purchase one of those townhomes. That is a very good area. With CSUCI close by, you souldn't have any problems. Also check with the City of Camarillo for additional development planned in that area. I seriously do not think that the housing market in this area is going to go down. Within the next few years, the market may slow down but never lose money.BTW what school do you attend?
Hey rez,Well today I read through the purchase agreement, and was pleased to find a loan contingency clause as well as a damages limitation clause which prevents the seller from doing anything beyond keeping my deposit ($16,600), even if I materailly breach the agreement right before closing. That at least gives me several months to decide if I want all in, or I'm willing to dump the deposit and run. The latter strategy would only be exercised if the housing market starts to take a nose dive. But I think you're right about the strength of real estate in this area.I also went to the Pleasant Valley Parks Department to see the planned adjacent park layout. I'm pretty happy with what I saw. I was concerned it would be more big venue stuff (e.g. stadium or large bleacher seating with concessions). Instead, it'll just be a standard local park with four baseball diamonds and a bunch of soccer fields. Parking is way across the field from my place too, so I should have a nice view. Down the road, I think the park will help make my place even more attractive to people with children and dogs.I'm a 3L in the evening program at Southwestern. How about you?
Quote from: rezipsa on August 16, 2005, 04:15:21 PMQuoteIs there something I should know about that area? I've been teetering over the past few days, but I think I'm gonna go for it. It's steep, but worst case I can rent the two rooms out. I really think it's a great unit in a great location.Hey -- I was at VCL for the spring 2003 semester. I took Intro to Law (Mark Packowikz?) and Juvenile Law. Were you in my class?
Just check with the City of Camarillo...it's a good thing for property values.
Which plan are you purchasing?
I started at VCL in the fall. Most of the spring starters are still there. Who do you remember from that class?