All Forum Posts by: Cory S.

I wasn't looking to sell, but Roofstock approached me, with an all cash offer (almost double what I paid for the house) on one of my properties in Georgia and I accepted. 

Plus, no sales commission.

I'm tired of being a landlord as well and they did me a favor, we close on May 26, and after all is said and done with taxes, mortgage payoff, etc. I'll pocket over $120K for other investing ventures I want to do.

Yep, unless you need the money right now, for personal or investment needs, I'd keep the house.

I'm in the same boat, but I'm on the other side, as I am now at the age of 50 getting my ducks in a row to supplement my income for retirement. 

I currently have a rental property in Georgia under contract to sell for an all cash offer of $210K and I bought it for $107K back in 2016 and I owe $77K on the mortgage, no sells commission. After taxes, closing cost, etc. I'm walking away with about $125K or so.

I'm going to take that money and reinvest in one of my other properties that currently is a long term rental into a short/mid term luxury rental for more rent and more cash flow and buy a couple of mortgage notes, with nice discounts and higher interest rates where I am the bank. 

The housing market in Austin right now is brutal with multiple offers, at least $100K over the asking price, as is, and property taxes through the roof.

Tons of money in the Austin area as people continue to pour in from other states.

You will find 480 sq. ft. 2 bed, 1 bath homes in the Del Valle area listed at $250K and more.

Rehab and repairs will take awhile as well as contractors are spread out thin with multiple jobs all across the greater Austin area.

The amount of money you are looking at spending will be just enough, but you better get in now.

Took the family to Sonic last night (Saturday) and pulled into one of the stables pressed the red button and waited. 

About after a 5 minute wait, one of the sonic employees comes out and starts telling everyone sitting in their vehicles, to please go through the drive through, as they only had 4 people working inside and that they wouldn't be able to serve everybody outside. 

That was a first in all my trips to Sonic.

I'm looking forward to that happening here in the Austin, Texas area. 

I've almost paid off my 3 bed 2 bath 2 car garage 1,700 sq. ft. home mortgage, that I bought for $144,900 that is now worth over $345,000 and climbing. 

Plan on selling in about 5 to 7 years and moving back from where I'm from for cheaper prices and pocketing the difference. 

Sounds great, just be aware of the repair costs, insurance costs, and high turnovers that come with such type properties. 

I had a property like this in Warrensville Heights in the Cleveland, Ohio market. It was a 1952 cap cod home 4 bed, 2 bath over 1,500 sq. ft. bought it for $60K. 

I had it for 4 years and I had 4 different tenants in it as every year when the lease was up they would move out and I would pay on average $5K to fix it back up to rent again, not to mention the nickel and diming that the city would do with landlord tax, occupancy tax, city permits, city inspections that always found violations no matter how many repairs I did. Not to mention on the repair calls for this and that from the tenants.

I sold it last year for $67,500 and was just glad to unload it as it was a money pit.

Lesson learned for me.

Yes, I want to up my portfolio earnings as well, and I'm going to turn one of my Atlanta properties into a luxury short-midterm rental. 

Great location in the Camp Creek Parkway area built in 2018, and just 2.5 miles from the airport.

3.5% 30-Year Conventional; 25% down 

Birmingham, Alabama

In 2016 bought a 4 bed 2 bath SFH in Dallas, GA. for $107K rents for $1,340 now worth $210K

In 2018 bought a new construct 4 bed 2.5 bath SFH in East Point, GA. near Camp Creek for $150,900 rents for $1,470.