I am finally closing on these

1. Two bedroom condo, $92,000. rent $1,000/month.

2. House. $195,000. rent $1,800/month.

3. House.$169,750. Need to spend about $20,000 to make it rentable. Potential rent $4,000/month.

25% down payment, mortgages are all 3.55%(prime + 0.55%).

It has been a long time before Christmas since I made offers. Lender needs tons of papers, but eventually went through the process.

Signed papers today, closing tomorrow, possession the next day.

Called today to set up accounts for electricty, gas, and cable. Told property managers to take over in two days and change leases.

Now I have reached my target of 10 units in total in this little town. Total purchase price: $1.1M.

I have two more codos to close this month in this town, which will exceed my limit. I will sell in the near future to keep the target, starting with the only lot.

 

所有跟帖： 

• 你是FT投资的吗？ -sweetptt- ♂ (0 bytes) () 02/09/2012 postreply 15:36:06

• What is FT？ -cultuslake- ♂ (0 bytes) () 02/09/2012 postreply 15:42:06

• full time -sweetptt- ♂ (0 bytes) () 02/09/2012 postreply 15:43:42

• sort of... -cultuslake- ♂ (0 bytes) () 02/09/2012 postreply 15:45:16

• 融资有困难吗？需要啥收入证明？ -sweetptt- ♂ (0 bytes) () 02/09/2012 postreply 15:52:56

• 回复：融资有困难吗？需要啥收入证明？ -cultuslake- ♂ (200 bytes) () 02/09/2012 postreply 15:59:29

• OK. Then I will study how to immigrate to Canada. -sweetptt- ♂ (0 bytes) () 02/09/2012 postreply 16:08:21

• You do not need to... -cultuslake- ♂ (104 bytes) () 02/09/2012 postreply 16:11:29

• I pay 100% cash for deals. Asked around, -sweetptt- ♂ (101 bytes) () 02/09/2012 postreply 16:15:34

• Banks will loose up eventually sometime in the future, at which -cultuslake- ♂ (30 bytes) () 02/09/2012 postreply 16:24:06

• What if the rate go up? The price is still -392- ♂ (69 bytes) () 02/09/2012 postreply 17:00:19

• I think the problem right now is that banks are not lending. -cultuslake- ♂ (617 bytes) () 02/09/2012 postreply 17:24:45

• House.$169,750. Need to spend about $20,000 to make it rentable. -va_landlord- ♂ (152 bytes) () 02/09/2012 postreply 15:37:17

• 回复：House.$169,750. Need to spend about $20,000 to make it rentab -cultuslake- ♂ (134 bytes) () 02/09/2012 postreply 15:50:45

• congrats... -jy101- ♂ (0 bytes) () 02/09/2012 postreply 15:41:55

• thank you -cultuslake- ♂ (0 bytes) () 02/09/2012 postreply 15:49:30

• 哪个银行给你 3.55%这么低的rate?能分享吗？谢谢！ -HappyWed- ♀ (0 bytes) () 02/09/2012 postreply 15:55:04

• Floating rate? The bank is waiting to -392- ♂ (65 bytes) () 02/09/2012 postreply 16:57:59

• 上一个月bmo,rbc的利率3.99fixed 5year. 这个deal才结束。 -梦想开花- ♀ (0 bytes) () 02/09/2012 postreply 22:41:43

• 这是哪里的properties? 回复：I am finally closing on these -HappyWed- ♀ (0 bytes) () 02/09/2012 postreply 15:56:32

• 回复：这是哪里的properties? 回复：I am finally closing on these -cultuslake- ♂ (29 bytes) () 02/09/2012 postreply 16:00:52

• thanks, which city? -xixi2009- ♀ (0 bytes) () 02/09/2012 postreply 17:00:16

• It is a small town in a remote area, rich with resources. -cultuslake- ♂ (0 bytes) () 02/09/2012 postreply 17:30:37

• 回复：I am finally closing on these -风轻轻地吹- ♀ (39 bytes) () 02/10/2012 postreply 11:03:37

• 回复：I am finally closing on these -风轻轻地吹- ♀ (39 bytes) () 02/10/2012 postreply 11:03:45

• 回复：I am finally closing on these -风轻轻地吹- ♀ (39 bytes) () 02/10/2012 postreply 11:03:51