All Forum Posts by: Marian Smith

Meant to add 16$ panel pair and 26$ panel pair, so big pop for little money.  

Meant to add 16$ panel pair and 26$ panel pair, so big pop for little money.  

Lush decor has colorful curtains.  Right now they have some cute but a little wild boho looking curtains with orange, teal, gold, black.  Then you could get a rug with a simple trellis pattern in one of those colors.  They have orange poppy curtains with gray too.  Very cheery and then you could get a gray rug.  

Thanks.  It was an unsolicited offer but I would like to sell. Oh well!  I appreciate the condo board’s efforts as a unit in a predominantly o/o complex is worth more to other o/o buyers, but it has to limit my buyers.  Have a nice new year.  Maybe interest rates will go down. 

Thought I’d update.  Deal fell apart as the condo board wanted to talk to the investor before allowing the sale.  Not sure how that went other than I never heard back.  Condo board really wants owner occupants.  Not sure how they could block a sale but I imagine they told him the central heating unit for the whole complex would soon need replacement so a special assessment would be upcoming.  True, but they have been saying it for years so who knows when.  I think a majority of owners voted to mandate sales and rentals go through the board first..at some point.  So I guess thats legal.  

Thanks.  I am looking for the basics.  I am about to buy a house in an area with a Rabbo score of 36 or so.  So not a slam dunk by any means.  I am torn between pricing rent lower with a minimum 3 night stay or just weeding out the less desirable/more work clients with higher pricing.  I bought to have a place to stay as well as for an investment.  So while I have family nearby I want to minimize excess wear and tear because 1. I am remote and because 2. I don’t want to spend a month in a dump.  

True. If you buy in a vacation area there really is no safety net other than desirability/location…I guess just don't pay up too much. People will always vacation. I am 65 and my dad would rent beach houses for our family vacations. I am guessing the beach houses were usually purchased and rented with a goal of "free" family vacations being paid for (along with mortgages) by rental income. They were never particularly nice, beach cabins on stilts with rattan furniture that usually had water stains from wet suits. Nowadays many vacation homes are priced as STR businesses with profits baked into the price (with future guests expecting instagram furnishings). Kind of a different ballgame but also kind of just like it's always been.

If I were investing in a condo anywhere I would ask what rents are in nearby apartment complexes, how my condo would compare to those apartments when I put it up for rent and how well could I weather competing with apartments offering two months free rent, etc when that time comes…and it may or may not but it has in the past.  Location really matters with a condo because that is all you get over a house further out, well, pool, exterior maintenance but you pay for that in hoa fees.  But there are some nice condos.  Old real estate addage is condos last to rise and first to fall…so you may be able to get a reasonably good deal especially if the airbnbust is real and there are more investors selling than people willing to buy at the cost 7% mortgages put property at nowdays.

Thanks @Greg H.  Amarillo, actually.  1960’s build, nice area, but a family trade thing I never particularly wanted.  But I was thinking the same thing…and very pleased to know someone with your breadth of experience concurred.  And thanks to all for responding.  May actually be a win-win…the best kind of deal.  

Unsolicited phone call offering to buy a condo I own 500 miles away in Texas panhandle. Price is probably above market, 17k down finance 75k @ 3.8% 35 yr amortization. 3 year balloon. Also offered cash at 30k less. Tenant occupied through Nov. 2023. Buyer is a newly formed LLC out of Houston, so even farther away. Is this just someone betting big on inflation? I know cold calling is how a lot of investors buy but how could this go bad? using a TREC 1-4 contract so hard to scam there. I am leery because it is such a small deal…just 1 small 1 bedroom unit…and not a great a deal unless maybe you are local and have a use for it…walk to community college. Condo bylaws prevent airbnb usage, so not that. Thanks for any insight…just feels too good to be true.