 Would you? (by Thomas [DE]) Jul 20, 2018 3:32 PM
 Would you? (by Deanna [TX]) Jul 20, 2018 3:50 PM
Would you? (by Thomas [DE]) Jul 20, 2018 3:59 PM
Would you? (by NE [PA]) Jul 20, 2018 4:03 PM
Would you? (by DJ [VA]) Jul 20, 2018 5:14 PM
Would you? (by Deanna [TX]) Jul 20, 2018 5:18 PM
Would you? (by Hoosier [IN]) Jul 20, 2018 6:05 PM
Would you? (by Vee [OH]) Jul 20, 2018 6:52 PM
Would you? (by AllyM [NJ]) Jul 20, 2018 8:18 PM
Would you? (by Richard [MI]) Jul 21, 2018 5:24 AM
Would you? (by plenty [MO]) Jul 21, 2018 5:48 AM
Would you? (by Thomas [DE]) Posted on: Jul 20, 2018 3:32 PM
Message:
Looking at a ready to go house from a related party. Price would be ~175k, 100k basically owner financed and 75k due at some point in the future.
Rent would be ~1100 and loan payment is 500, taxes 110. This is an insurance rebuild and in great condition.
Would you pull the trigger?
What is the time value of money worth?
--62.216.xxx.xx |
Would you? (by Deanna [TX]) Posted on: Jul 20, 2018 3:50 PM
Message:
Taxes are $110/year on a $175k house? How long will that last? That sounds more like vacant lot taxes.
"Some point in future"--- could you get their expectations pinned down more specifically? --166.137.xxx.xx |
Would you? (by Thomas [DE]) Posted on: Jul 20, 2018 3:59 PM
Message:
Hello Deanna -
Expenses (loan and taxes) were per month.
Don't really have a time frame for the cash. Say between 5 and 10 years. --62.216.xxx.xx |
Would you? (by NE [PA]) Posted on: Jul 20, 2018 4:03 PM
Message:
Keep shopping. --50.107.xxx.xx |
Would you? (by DJ [VA]) Posted on: Jul 20, 2018 5:14 PM
Message:
That's not nearly enough rent for that price. --68.10.xxx.x |
Would you? (by Deanna [TX]) Posted on: Jul 20, 2018 5:18 PM
Message:
Ah, gotcha.
It looks like it would be almost 14 years before you grossed back your purchase price, not counting expenditures like insurance and taxes, and not counting any vacancies or turnover costs.
Is that price point normal in your part of the world? Suppose you look more towards the neighborhood of $50k in a 20 or 30-minute radius of where you live. How far does your real estate dollar stretch? Delaware itself is only about 2 hours, north to south, right? --96.46.xxx.xx |
Would you? (by Hoosier [IN]) Posted on: Jul 20, 2018 6:05 PM
Message:
Not nearly enough rent for a house of that price. I'd invest in the market before I did that deal. --99.92.xxx.xxx |
Would you? (by Vee [OH]) Posted on: Jul 20, 2018 6:52 PM
Message:
Take far to long to hit the -it is paid off- party, the mortgage is dead party should be not more than 7-10 years.
Study your market before you leap --76.188.xxx.xx |
Would you? (by AllyM [NJ]) Posted on: Jul 20, 2018 8:18 PM
Message:
It's Delaware so taxes are low. What I do is look at the amount of interest I would get from the bank on the same money and if I get more on it from a purchase I would do that. I use that method when I make an improvement that I can use to raise the rent before the next tenant. I put in central air and raised the rent on one unit by $150 which is way more than I would get from that money sitting in the bank. The problem with this purchase is there is too much money invested for the rent you would get. Remember there will be times when the thing is empty. Why the insurance rebuild? If it's flooding run away fast. Delaware is very low and hurricanes can flood you out easily. --73.178.xxx.xx |
Would you? (by Richard [MI]) Posted on: Jul 21, 2018 5:24 AM
Message:
Price is way too high, imho. --66.188.xx.xxx |
Would you? (by plenty [MO]) Posted on: Jul 21, 2018 5:48 AM
Message:
Volisity of money.
How fast will it come back to you?
Your age?
Your market? Re increasing?
Maybe a deal if all other factors work in your favor ... --99.203.xx.xxx |
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