Hi all,
As most/some of you may know, I am extremely interested in the world of real estate. I am doing my own commercial ventures for rentals but also, in the process, of buying a place for my girlfriend. She has some money built up and I have successfully helped her negotiate, what I think is, a great deal! If she is living there, of course...
A few details:
2 bed/2 full bath Downtown Nashville Condo
One of the last units of the development
Listed for $210,000
We ended up wrapping it up for 185K, 5K towards closing costs, 1K towards appliances, and a storage unit across the hall.
We made a concession to close very quickly, before April 15th (tax day!)
These units comp for 220 (conservatively) and rent out for 1300 (conservatively). Her payment including EVERYTHING (PITI and HOA, not utilities) is $1072/month. She landed a 5.125% (because of an old doctors bill), 30yr fixed.
I am pretty pumped about the deal that we got. Not the BEST, but from a homeowners persepective, it is exactly what she wanted for way less than what she was willing to pay. Just wanted to update you guys as to my activity! Closing in 2 weeks...let's get to work!!
Best,
Josh
As most/some of you may know, I am extremely interested in the world of real estate. I am doing my own commercial ventures for rentals but also, in the process, of buying a place for my girlfriend. She has some money built up and I have successfully helped her negotiate, what I think is, a great deal! If she is living there, of course...
A few details:
2 bed/2 full bath Downtown Nashville Condo
One of the last units of the development
Listed for $210,000
We ended up wrapping it up for 185K, 5K towards closing costs, 1K towards appliances, and a storage unit across the hall.
We made a concession to close very quickly, before April 15th (tax day!)
These units comp for 220 (conservatively) and rent out for 1300 (conservatively). Her payment including EVERYTHING (PITI and HOA, not utilities) is $1072/month. She landed a 5.125% (because of an old doctors bill), 30yr fixed.
I am pretty pumped about the deal that we got. Not the BEST, but from a homeowners persepective, it is exactly what she wanted for way less than what she was willing to pay. Just wanted to update you guys as to my activity! Closing in 2 weeks...let's get to work!!
Best,
Josh
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