Yes Nancy I am looking to assign the contract
The appraisal on the property is 256 underveloped
I am askin 100k
the potential is real big
houses under 2000 sq ft can sell easy for 199k and cover the assignment
1 house can cover my cost
15-20 houses can be built
very good potential
Hi,
Are you looking at this for an investment or your personal residence? If for an investment, make sure you read the condo guidelines. They may have restrictions on rental and/or resale. Whether it is a good deal, depends upon the appreciation between now and settlement, current comps and your personal goals. NOVA as a a whole is a great area for REI. Recent articles in the Post still see strong growth in the Washington - Baltimore metro area.
Hi tranman,
Sounds like this condo is already worth it for you because you might like living there while you see what else you want to do in the market. If so, that is a win.
My take is: even if RE cools down, DC/Balto suburbs market is Strong!! Will you manage it if you rent out? 8-10% management fees are the norm here. Also $$$ to find tenant...Do it yourself w/the Post. Area is only improving and there are many excellent tenants in DC market. ***10 min. from work +++! But, read your condo rules on rentals/investors/tenants NOW.
Take it from a Beltway drop-out, full time landlord.
He is refering to a property mangemant company that will take care of the vondo after you move out and get a tenant. They charge 8-10% of collected rent - something to consider.
Someone PLEASE look up their crystal magic ball or magic 8 ball and find out WHEN the market is going to turn!!! What are the important factors that might change the market around? So I can keep a look out for them...
Are the condos you are referring to called the Parkside? If it is, I am looking into it as well and trying to determine if is feasible or not to invest. I am not that familiar with that area of Alexandria. Can you provide any input as to how that area of Alexandria are appreciating and what you think about the low income apartment complexes that are around there? Thanks.
Pass Christian is a town.
I am not the owner
I am wholesaling the property
The property is appraised at 256k
Yes Nancy I am looking to assign the contract
The appraisal on the property is 256 underveloped
I am askin 100k
the potential is real big
houses under 2000 sq ft can sell easy for 199k and cover the assignment
1 house can cover my cost
15-20 houses can be built
very good potential
Joel you need to read the rules for this new forum it allows ads.
Joel you need to read the rules for this new forum it allows ads.
yes it is zoned for subdivision
and is setup for water and sewer
10 blocks from beach in pass christian.,ms
deposit 8k
free and clear title
ready to close no later than 2 weeks
owner has a deadline
but land is great potential
If the appraisal is 250, what are you asking for it...?
MT
[addsig]
Mike
I am asking 200k OBO
Hi,
Are you looking at this for an investment or your personal residence? If for an investment, make sure you read the condo guidelines. They may have restrictions on rental and/or resale. Whether it is a good deal, depends upon the appreciation between now and settlement, current comps and your personal goals. NOVA as a a whole is a great area for REI. Recent articles in the Post still see strong growth in the Washington - Baltimore metro area.
Eric
How much can you rent it for?
How much down?
Are you looking for short term or long term?
**Several things to consider:
Loan interest rates are higher for investments properties
Condo fees
If you are buy and hold - and not making money out of the gate, I would pass.
Hi tranman,
Sounds like this condo is already worth it for you because you might like living there while you see what else you want to do in the market. If so, that is a win.
My take is: even if RE cools down, DC/Balto suburbs market is Strong!! Will you manage it if you rent out? 8-10% management fees are the norm here. Also $$$ to find tenant...Do it yourself w/the Post. Area is only improving and there are many excellent tenants in DC market. ***10 min. from work +++! But, read your condo rules on rentals/investors/tenants NOW.
Take it from a Beltway drop-out, full time landlord.
He is refering to a property mangemant company that will take care of the vondo after you move out and get a tenant. They charge 8-10% of collected rent - something to consider.
Someone PLEASE look up their crystal magic ball or magic 8 ball and find out WHEN the market is going to turn!!! What are the important factors that might change the market around? So I can keep a look out for them...
Thanks!
TranMan:
Are the condos you are referring to called the Parkside? If it is, I am looking into it as well and trying to determine if is feasible or not to invest. I am not that familiar with that area of Alexandria. Can you provide any input as to how that area of Alexandria are appreciating and what you think about the low income apartment complexes that are around there? Thanks.