Quote:
Originally Posted by LouisVanDerWright
If you've ever seen those "2 bedroom places" that are going for $1,500 you'd realize that you'd be getting either about the same square footage as a studio (750 SF with 8 X 11' bedrooms) or they are just complete shit holes.
Also, what airline personnel? Um, most of them? Even flight attendants start around $50,000 a year domestic if they work full hours. I get those numbers directly from my two tenants who are flight attendants. I have several friends who are pilots and they all make six figures. I have one friend who is a pilot on the A-380's and he makes over $200,000 a year if he works full time hours... Airline employees generally make a ton of money if they are actually manning aircraft and working a full set of shifts.
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Does anyone know what rent ratio this building is using?
Flight attendants making $50,000 a year would qualify for $2083/mo rent if using the loosest ratio (2:1), but only qualify for a monthly rent of $1388 if using the strictest standard, 3:1. There are only a certain number of studios in the building ($1500+). The majority of the units here are AT LEAST $2000+ per month, with one unit going for almost $4000/month in rent. Airline pilots would have no problem renting here, and actually I knew an airline pilot who used to live a few blocks south of here, on Milwaukee. He lived on the 4th floor of a walk-up building that had parking in rear and was 2-beds and was paying $1900 at the time (2009). Dont know what he is paying now. But are the trade-offs of not having to walk up 4 flights of stairs, worth it for giving up his parking spot? For a pilot, probably not, as him and the other pilot I know (and the other one I knew, my grandfather RIP), love their toys (bikes, cars, planes) and for the most part are not interested in car-free living.