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I am finally closing on these

(2012-02-09 16:01:05) 下一個

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.


 

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