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Old 07-31-2015, 01:48 AM
 
Location: Rancho Cordova
251 posts, read 373,236 times
Reputation: 172

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For those interested check out their facebook page as they have some videos with a few of the homes framed. I didn't realize until watching the video these have shared entrances and they are on top of each other.

www.facebook.com/themillatbroadway/videos/893878877359617
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Old 08-03-2015, 10:13 AM
 
2,220 posts, read 2,781,213 times
Reputation: 2716
Quote:
Originally Posted by sacite View Post
First of all, no investor purchases rental property to turn a profit on a month to month basis. If that is your goal, you are engaging in an ordinary business such as a hotel. It's very difficult to generate income from rental properties for the following reasons;

(1) You have to recoup your initial investment to buy the property. In accounting, this occurs through depreciation over the life of the asset. However, you figure it, your net outlay to purchase the property has to be factored in to whether you are earning any money month by month. If you leave that out, you are not correctly calculating your income. It does not appear that anyone posting here has done that.

(2) Taxes, insurance, maintenance, LLC fees, interest expense, vacancies etc make it extremely difficult to earn money on a rental property.

What a couple people here are doing is confusing "cash flow" with "profit". Sure, if you take $500K out of your retirement fund and buy an old rental building, you are going to have positive cash flow each month from renting the property. However, a good portion of that is simply a return of the money you pulled out to buy the property. Your profit is minimal, if at all.

Savvy investors look for properties that they can either improve or those which are located in an area where some economic event will occur to increase the value of the property. They then hold the property and try to minimize losses as its value increases. This is how all investments work, regardless of the industry. It's all about forecasting and expectation of increase in value.
THIS. Rental income can make you a small profit (or if small/big losses, a small/massive tax shelter) covering mortgage payments, maintenance, taxes and other expenses, but the real money is made from the appreciation of the property long term.
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Old 09-01-2015, 12:54 PM
 
26 posts, read 55,571 times
Reputation: 46
Does anyone know the timeline or heard any info on the supposed public market that is to be created with this community? Very interested in seeing how they use the historical buildings that are currently there.
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Old 09-02-2015, 02:08 PM
 
8,680 posts, read 17,197,096 times
Reputation: 4685
They destroyed most of the historic public market buildings, including the Market Club, leaving a small section of one of the rows of market buildings. Haven't heard anything about its reuse yet.
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Old 04-11-2017, 07:09 PM
 
113 posts, read 158,077 times
Reputation: 138
Any updates on this development? Has anyone moved in?
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Old 04-10-2019, 12:34 AM
 
914 posts, read 634,486 times
Reputation: 2680
Default Mill on Broadway Downtown Sacramento

Quote:
Originally Posted by JVinci View Post
Any updates on this development? Has anyone moved in?
I went to drive around today. It was hard to drive through the neighborhood because of all the cars parked on the narrow streets. I'd love to buy a property here because the location is convenient and the price is right.

However I happened across many shady characters driving around acting like they were looking for trouble (typical Broadway crowds), and others just hanging about enjoying their leisure time. There were then two people who appeared to be drugged and trying to get themselves across a very non-busy street and it seemed to take them a long time to get across because they kept stepping forward on the street. I stopped, then they got half-way across and ran back to their original spot. I waited and waited until they finally made it across. They then laid down on the grass. There's a nice grassy space that says "Future Park" and I suspect once built it will be full of homeless homesteads just as is most everywhere near downtown that used to be nice clean recreational spots.

The ads show no HOA, which means it's a free-for-all. One concern is I don't want to buy in a subsidized low income community. The problem is they are not allowed to tell you if it is low income. No offense but I just don't want to be the only one in the community paying full premium price while they hang out drinking and partying all day while I'm at work. Is there any way to find out if it is subsidize low income housing?

Anyone else interested in this area? If so, what are your thoughts? Someone said there were "the projects" nearby. Where? Yelp says it's great, but everyone knows yelp is fixed (see million dollar bully movie) but that's another thread. My question is where are these "projects" in that vicinity? How can one find out?

I'd be interested to hear from you if you're familiar with the area.

Last edited by settled00; 04-10-2019 at 12:48 AM..
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Old 04-11-2019, 12:00 AM
 
1,423 posts, read 1,545,628 times
Reputation: 840
I would pass way too ghetto.
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Old 08-31-2019, 05:47 PM
 
2 posts, read 980 times
Reputation: 15
Overpriced
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Old 09-04-2019, 09:45 PM
 
139 posts, read 250,383 times
Reputation: 56
How is that area ghetto? It's not even on Broadway.
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Old 09-15-2019, 10:10 PM
 
1,423 posts, read 1,545,628 times
Reputation: 840
My problem is that I work downtown for the state and anything close is super expensive on what I make. I don't want a 2 hour daily commute thru nasty traffic. Makes buying tough for me on my one income.
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