All Forum Posts by: Priya Thomas

seems like you have been talking to the wrong side of the lending . Talk to residential loan officers, not the commercial ones. Almost all the banks (except smaller credit unions) offer 30 year AM, fixed (upto 4, conventional upto 10 loans). Your best bet might be US Bank, their rates are competitive or you can find local lenders too. Again, talk to residential loan officers, not commercial.

How much are you paying in taxes to talk about tax liability? you should talk to some local title companies to find out how much they'll charge. Typically for deed prep $50-max $100, + recording fee. Most of the title company costs will be borne by the buyer anyways. My advice is for this small piece, don't goto the agent, rather try to sell it to a direct buyer.

I have not dealt with land, but if it is paid by cash, the closing cost might be just a few hundreds. By the way who are you paying 6% commission if it is sold to your neighbor?

It is a bad deal !!!!!!!!! I don't advise you buying this, 229k for 1500 return, that too speculative?

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Congratulations !! 

You should be glad it did. We are local, Cincinnati based investors, we are more than happy to look at anyone's deal and provide our opinion. Happy to help fellow investors, newbies.

No offense meant, I think it is a bad deal considering break even period of 4-6 years on a 160k worth property. What other capex do you need to make? These are the kind of deals people get crushed when the market crashes.

Where do you live? Are you local to Cinci?