"crazedclay: SBC murderer" (crazedclay)
07/14/2014 at 20:47 • Filed to: None
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"crazedclay: SBC murderer" (crazedclay)
07/14/2014 at 20:47 • Filed to: None | 1
| 2 |
Anyone at the real-estate end of things?
Here we have a three pack of units in a decent part of town. An assumable mortgage on each (though would likely just scoop two and ride the mortgage on the third).
My only niggle is the 20k per unit he wants as a buy-out for his equity. Because I'm cheap, not because I don't understand why he would want his equity back out of it XD.
Ultimately it would be a situation of offering say 15k per unit for his standing equity and then wiping out mortgage one and two immediately.
What say the real estate people?
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Spaceball-Two
> crazedclay: SBC murderer
07/14/2014 at 21:04 |
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10 years in the field. Seems like a good deal. 2.1% is nuts man! My only question is have you ever been a property manager before or will you be hiring a firm?
E92M3
> crazedclay: SBC murderer
07/14/2014 at 23:39 |
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Condos are generally bad investments. Typically they don't appreciate as much as a 3bd room 2 bath house would. The tennant turnover is much higher too. As people get older they want to get married, have pets, have kids etc. Meaning grow into a house. There's condos here in Atlanta that still haven't recovered from the previous bubble. You have to ask yourself why this guy is looking to cash out of such a "good" investment. If I could get a 25% return every year on an investment I sure as heck wouldn't get rid of it.