All Forum Posts by: Jules Aton

$7,000 sounds very reasonable. I would self-finance. 

I’m surprised stock market investments most notably TSM index funds didn’t beat RE especially if considering the time RE requires when determining net. 

Congrats on your first deal. It’s a nice looking property. Is $200 mo total or per unit? If total not a great roi particularly for the amount you have invested. 

No advice but wanted to say hi and welcome! 

Nothing wrong with keeping your day job especially if you enjoy and it is lucrative. I'm guessing you aren't maxing out your retirement accounts which I would do. Where are you living? The easiest way to get started in my opinion with favorable lending options is generally purchasing a primary residence as a spring board. In my opinion new builds are like new cars, attractive but generally not the smartest purchase from a strictly financial standpoint. Best wishes, you sound like you are setting yourself up for much success. 

Any inspection clauses or other outs? How much are they putting down? Did you get proof of funds? 

I would sell it. There isn't anything attractive to me about a long distance, negative cash flow rental property with no recent equity. When you are actually interested in purchasing a rental property find one that makes sense and will be a solid investment. 

Wowza! It is breathtaking. I'm surprised they are surprised. 

https://www.yahoo.com/lifestyle/property-tax-went-15k-life-0...

@Pedro Andrade you make an excellent point. Everything in life changes and I'd expand your sentiment to "nothing stays good forever". It is important particularly in business to continue to assess the current situation and remain limber. The good news is there are always other opportunities. 

It is unfortunate but if that is an accurate value they should expect to pay the going rate. Times change. We need to retain the ability to pivot. And by losing their home you mean selling it for millions, right?