Crashby said:SOLD! Got an offer last night. It took a little longer than planned... but I stuck to the higher asking price and got the full $74,900 that I wanted. I close in about 8 weeks. There is joy...
I think its usually 30 days... 60 days on this one because of the buyers lease situation...N8 said:
Crashby said:I think its usually 30 days... 60 days on this one because of the buyers lease situation...
I was prepared to take $69,900, so I could care less about an extra month to get 5 grand more...
Not sure yet as this is my first close, but a grand sounds high if anything if conversations with my realtor are any indication.N8 said:
Crashby said:
Since this was a vacant house, I dont have a C of O on the property yet... do you think that should be my responsibility (cost and execution)?N8 said:
Crashby said:
douglas said:
When's it going to be enough man???N8 said:
Crashby said:When's it going to be enough man???
On another note, I'm helping to broker a deal to buy an old high school that has been converted to 26 apartments. It was run by HUD for a while, and they are now selling it...
We're looking at 225,000 for the property, 150,000 for rehab. We stand to make 35k for a contract assignment, and 22,500 for the Realtor commission. Kind of a long shot, but a neat project.
I didnt expect to get into commercial real estate this early in the game, but the money is too good to ignore the opportunity.
even with the complete rehab... this place will come out to be about 16k per unit... rents between $450 and $700/month. ~$130,000 per year in rents.N8 said: