All Forum Posts by: Alexis Nworah

Hi all,

I am trying to buy a rental house in Sandy Springs, Georgia. Please, is the area a good place to buy a rental house in (townhouse)? 

Thanks in advance

@Wayne Brooks

Thanks for your response, Mr. Brooks. The house is going for $1.795M. Now, I am required to pay 20% of that. The seller wanted to sell the house for $1,745M to me and I pay the closing cost. However, I refused. I told her I would rather pay $1,780 M for the house and let her pay the $53,000 closing cost. That’s where we are at now.

If I pay the closing cost and get the house at $1,745M, about $395k will come out of my pocket including the 20% down payment and closing cost. However, if she pays the closing cost, and I get the house for a higher price at $1,780M, then about $360K will come out of my pocket.

Let’s see what happens. Let’s see whether she agrees to my proposal.

Thanks once again

@Nicole A.

Thank you so much, Nicole. Sorry for the late response. I have been away from the forum for a while.

Hi everyone,

I am trying to buy a house. The closing cost for the house is about $52,000.00. I have asked the seller to do the whole $52K (3%) but she refused saying that she can remove $50k from the price of the house while I pay the closing fee myself

I thought the sellers always paid the closing fees without questions. Please I really need answers on how to proceed here. Paying the $50k for closing will be too much for me after I am made to pay 20% down payment for the house.

Please, any response is welcome

Alexis

Thanks

@Russell Brazil Thank you for your recommendation. I will have these areas in mind when I am ready to start in the next few months. Thanks once again.

@Lamont Marable

Sorry, I meant SFH or MFH?

@Lamont Marable

Thanks for your response. Please, what would you advise someone to acquire in DC? SFH or MGH? Condors, etc?

Additionally, I heard that there are high crime areas in DC.

Thanks once again!

@Ozzy Sirimsi, thank you so much! I appreciate.

Alexis

Hi Yannick,

Thanks for your response. I will surely look at those when I am ready. Targeting November and December this year. 

Thanks once again!

Alexis Nworah

@Dan Bernstein, thanks for your reply.

Ok, let's say one can drop 10 - 20% of the price of units in the 200- 300K range, and may be one in the 400k Range that will give good ROI. Please, where in Maryland do you think houses / apartments will be rented as soon as listings hit the MLS? Where do you think people renting will stay longer all things being equal?

My intention is to add 3-4 units every year.

Thanks once again!