Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 on . Most recent reply

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...