Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

10
Posts
2
Votes
Johnathan Fremgen
  • Investor
  • Center Moriches, NY
2
Votes |
10
Posts

closing on a single family property

Johnathan Fremgen
  • Investor
  • Center Moriches, NY
Posted

Hey guys so I'm about to be closing on a single family property. Im going to use this property as a rental. Im on long island. Property is in Mastic Beach, its in a C neighborhood. Bought the house for 160k taxes are 7350. (high I know but thats long island for you) and rent is 1800, so I'm getting a little over that 1% rule. Im supposed to close but the tenants that are in the house as we speak are getting evicted. Everyone is telling me i should close. I think the mortgage guy and lawyers just want to get paid since its the end of the year. If i close and they ruin anything its all on me right? Its my first property so I don't want to get peer pressured into anything thats going to hurt me in the long run. Let me know what you guys think. Appreciate all the help!

Loading replies...