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.
New Member Introductions
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 over 6 years ago,

User Stats

4
Posts
0
Votes
Matthew Bowden
0
Votes |
4
Posts

What is my neighbors investment strategy?

Matthew Bowden
Posted

Long time listener to both podcasts first time poster (so apologies if this is the wrong forum). I live in Nashville, TN. The house next door was purchased at foreclosure on December 2017 for $734,500.00 by a flipping company. The house was renovated and listed for sale at 1.5 million in July 2018. On Aug 14, 2018 it was de-listed. 

Earlier this week I learned that the house was purchased by three investors. Two relatively new real estate agents and a high school teacher. They were nice but very evasive when it came to what their plans were with the property. When I pulled the county records it shows a Contract for Deed detailing out a seller financing situation. The purchase price was 1.5 million with 9% down, 7,000 a month mortgage payments and a balloon payment after 5 years. Only the school teacher is on the deed. 

The house is 7,791 square feet with 5 bedrooms and 4 baths. It sits on over an acre of land. 

I am trying to ascertain what if any impact this will have on the value of my adjacent property. Is normal Airbnb lucrative enough to cover that type of mortgage?  I would appreciate any insight or thoughts on the above scenario. 

MB

Loading replies...