Nothing, it went smoothly!

Smooth sailing.

I have used Harry’s firm (Harry Marsh Law) for a double assignment closing last year and the process was very smooth and all electronic. 

This might involve him having to go somewhere to stay, like a family/friends house or hotel during this time.So for everyone that has gone through something similar, how have you handled things with the tenant to make it go smooth.

Too many smooth talkers out there.

Hi everyone, So I purchased my first place and everything went smooth.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

I have a background in e-commerce and would like to transition, hopefully smoothly, into the real estate realm.I have a little bit of a unique situation because my dad is a real estate developer and I have just moved to Colorado to learn the business and see the process from beginning to end.

.- Assuming a $200k house with 20% down and $200/mo cashflow,  - If you throw cashflow at mortgage every month, you will pay it off in 20.5 yrs as opposed to 30  - You definitely increase net worth faster by doing this (an extra $3,948 at year 10, which is pretty small, but still something compared to the total $24,000 cash you would have saved over the course of 10yrs at $200/mo)  - You hit $80k in equity at 6yrs 5mo as opposed to 6yrs 8mo    - this is the real advantage because it allows you to acquire another property faster, but there is a very small difference here- Overall, I would say following about this strategy:  - only do it if you are confident that low-interest fixed-loans will be available 6-10yrs down the road when you would be looking to refi    - would be a shame to lose that advantage for the small extra advantage of paying down mortgage over that time period  - this still seems like a no-risk, no-tax savings account or bond    - instead of parking extra income (from job or whatever) at bank with minimal returns while waiting to buy another property, "invest the money in your mortgage" by paying it down   - I suspect this strategy might start to look better if you had an extra $1-2k/mo from job to put into this to really supercharge equity which is what David was talking about in book, but I'd have to crunch numbers more           - of course, have to make sure that refi closing costs won't wipe out any gains, and you don't risk losing a low rate fixed loan as @Robert Purcell said    - also, I suspect that nominal stock market returns of 7-10%/yr would outperform this (even with capital gains) because the money will be invested for 6yrs before pulling out for a new down payment (which means long-term capital gains as opposed to short-term and you have a better chance to smooth out stock market cycles so portfolio doesn't crash when you want to liquidate and use it as a down payment for property), but I'd have to crunch numbers more- Interesting idea to tune results, but I don't think I'll use it any time soon.

From the insurance perspective, there is not a policy I could write for you that would extend coverage from your property to provide coverage for your neighbors claims.She is out of luck.Any money you put toward this issue is charity and just being a friendly neighbor, but you are not liable for anythingHope you can smooth it over with her