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Thread: Real Estate Investing?

  1. #13

    Join Date
    Aug 2008
    Location
    Pensacola, FL
    Posts
    6,312

    Default Re: Real Estate Investing?

    Quote Originally Posted by GUCHI View Post
    jp
    my son is 19 and is going to community college and working at a nice beachy restuarant in wilmington,nc. his lease is about to run out in 5 wks. my wife and i are already kicken in rent for him to stay where he is, so that may not change until he gets a full time job and can make it on his own. my boys are really responsible. the 22 yr old bought a house when he was 18 and is now going to school to become an electrical engineer. the youngest may want to further his education and go to culinary school $$$$$. i really don't like townhouses because of the HOAs, but this 1 caught my eye. asking $79,900, built 2001, tax assessed value $ 153,818 3 bed 2 full bath HOA $83/mnth. my thought is my son could have 1 maybe 2 roommates and they could get the mortgage payed quickly especially with 2 roommates. the townhouse is located 15 min. from the beach and eventually it could possibly be my beach home(3yrs before retire). checked with the bank and it would qualify as a 2nd home so all that applies to 2nd home would count here. contacted realtor to see house possibly this sat. any thoughts?
    I hate HOA's as well. However, $83 doesn't sound too bad. $79,900 is small enough mortgage to handle if you had to pitch in with payments once in a while. And the beach locale and size is a plus!
    Always plan for the worst and hope for the best. (i.e. have a few months mortgage saved up).
    Like I said, judgement call. I would do it if I had your sons.

  2.  
  3. #14

    Join Date
    Jun 2006
    Location
    Wilmington,NC
    Posts
    821

    Default Re: Real Estate Investing?

    jp
    thanks for the props and input ! its good getting a view from someone else. i was not sure on this townhouse until after i spoke to my oldest son last nite and he informed me on a few things that i overlooked. im ready to check it out and if it checks out , to make an offer.

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  5. #15

    Join Date
    Jun 2006
    Location
    Wilmington,NC
    Posts
    821

    Default Re: Real Estate Investing?

    jp
    your name would not happen to be lynn would it?

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  7. #16

    Join Date
    Aug 2008
    Location
    Pensacola, FL
    Posts
    6,312

    Default Re: Real Estate Investing?

    Quote Originally Posted by GUCHI View Post
    jp
    your name would not happen to be lynn would it?
    Nope. Judy

  8.  
  9. #17

    Join Date
    May 2011
    Location
    Florida
    Posts
    1,702
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    Default Re: Real Estate Investing?

    My experiences so far investing in real estate while serving in the military:

    https://www.youtube.com/watch?v=18hiOoHgIu4

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