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| Name: |
joint heir
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| Subject: |
AL Power new leases
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Date:
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6/13/2009 2:02:41 PM
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I have a letter from AL Power dated June 1 which offers a new lease deal. Basically it offers a new lease which will either increase annually by 4% or the increase in the CPI whichever is greater. I haven't leased long, but have tried to analyze this offer. The letter is not well written and leaves a lot of questions unanswered. Has anyone else received the letter and formed an opinion?
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| Name: |
Feb
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| Subject: |
AL Power new leases
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Date:
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6/13/2009 2:44:42 PM
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Is this for an existing lease?
I did not know AL Power was offering any new auctions for an opportunity to lease????
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| Name: |
joint heir
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| Subject: |
AL Power new leases
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Date:
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6/13/2009 2:54:13 PM
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Yes, I have an existing lease--it is now 4 years old. The letter did address a broader subject: it began: AL Power and AL Property Co announcing lifting moratorium on leasing. I have no idea what that means. The letter leaves many things questionable and unanswered.
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| Name: |
Aquadelusional
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| Subject: |
AL Power new leases
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Date:
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6/13/2009 4:48:43 PM
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I have a lease lot also about three years into it I think the idea behind it is that if I where to sell the new owner can get a 30 year lease not assume my 27 years I have left.This makes it easy to get a 30 year mortgage. Banks will not give you 30 if your lease has only 27 or in some cases a lot less.Like if you had only 10 years left that would be one hell of a payment on a 400,000 house and the bank would only do the loan for ten years.
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| Name: |
lucky67
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| Subject: |
AL Power new leases
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Date:
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6/13/2009 7:08:30 PM
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sorry--you are wrong--you cannot get 15/20/30 year fixed rates AS LONG AS THE 5 YEAR RENEWABLE OPTION IS THERE; BOND MARKET WILL NOT BUY IT--IF A LENDER TELLS YOU OTHERWISE, YOU ARE IN FOR A SUPRISE; AP MUST TAKE OUT THE REMEWABLE OPTION--THEN THE RULE IS : YOU CAN GET FIXED RATE FINANCING, AS LONG AS THE REMAINING LEASE TERM IS AT LEAST 5+ YEARS LONGER THAN THE MORTGAGE, ON THE DAY OF CLOSING; SO, IF THE RENEWABLE OPTION WERE TO BE TAKEN OUT, [WHICH AP WILL NOT], IF YOU HAD 26 YEARS REMAINING, ONE COULD GET MAX 20 YEAR FIXED; I KNOW--I DO AP FINANCING & HAVE FOR 20 YEARS; WHAT I THINK AP IS TRYING TO SAY IN THE NEW CORRESPONDENCE, IS IF YOU HAVE SHORT LEASES & WANT TO SELL, THEY WILL CONSIDER EXTENDING THE LEASE, BUT MY UNDERSTANDING IS THEY ARE RETAINING THE 5 YEAR RENEWABLE CLAUSE--SAD, BECAUSE IT HURTS SELLERS & BUYERS--REMEMBER, THOSE WHO HAVE THE GOLD [AP], MAKE THE RULES !!!
URL: SECI
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| Name: |
alahusker
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| Subject: |
wowhy i live on a deeded lot..
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Date:
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6/13/2009 8:56:31 PM
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| Name: |
joint heir
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wowhy i live on a deeded lot..
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Date:
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6/13/2009 10:00:04 PM
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alahusker
I don't know what wowhy means since its not in my dictionary, but if it has to do with buying deeded lots versus renting lease lots, think about this: My leased lot is appraised at more than $300,000. The lease payment is about $6000 per year. At $6000/year in purchase payment it would take me 50 years (without interest) to pay for the lot--maybe 60 years with interest. In the meantime I can put the $300,000 I didn't spend to work, at interest only, at 5% which will pay me $15,000 per year--that's almost three times as much for me as my lease payment to AL Power. Do you begin to see the economic reason for leasing? Its true, I'm not developing any real equity, but my lot is still very marketable and I'm not going to live another 50 years and don't expect to take the equity with me. In this transaction I'm only concerned with minimizing my annual lease or purchase payment.
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| Name: |
Kizma Anuice
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don't tell apco
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Date:
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6/14/2009 6:59:50 AM
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the figured it out once before and ended the $60.00/year lease
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