All Forum Posts by: Lucy Smi
Lucy Smi has started 12 posts and replied 23 times.
@Jonathan Greene
Thank you and all who replied. It definite gives me jitters now with all the uncertainties. One thing for sure is that the housing market is still at all time high and it’s risky to go in now.
We found a 2-unit student rental property for $300k near a college in a B- class neighborhood. After two rounds of negotiations, we will give a final offer of $285k. Rental income is $2500/m total. One unit is rented out until next January and the second unit is empty.
Should wait or back out now that we are likely heading into a RE correction or crash? Your thoughts?
Post: Help me analyze this property
- Posts 24
- Votes 2
I just found a 3-unit rental one block away from a college in a Class B/C neighborhood.
Asking price: $380k
Rent:
unit 1 $1200 tenant occupied , unit 2 $1200 currently empty, unit 3 $800 tenant occupied.
Concerns:
Unit 1 is rented out to a couple who has security cameras everywhere. This is a sign of not very safe neighborhood, right?
Unit 2 is empty which is weird being in the middle of a semester.
Unit 3 smells weeds the moment I entered it.