Investors – Check this out!

Two households, both alike in dignity,
In fair Verona, where we lay our scene,
~~ Oh wait, that’s the opening of Romeo and Juliet.

2 “identical” condos, side by side in a private lake community.  Ammenities of the complex are a private park and private dock on Echo Lake.  Close proximity to Costco — you could walk back with your purchases if only the industrial sizes didn’t weigh so much.

Schools?  How about Blue Ribbon Shorewood High School?  Einstein Middle School and Echo Lake Elementary, all in the award winning Shoreline School District.

Ease of commute?  Short walk to the Aurora Village Transit Center.  North or South, these buses will take you there.  Leave your car and parking hassles at home if you wish.

Why is an investor interested?  Because these are a short distance from major employment centers and 2 community colleges — they are prime rentals!

The HOA has no ratio on rental/owner currently, although that could change.  Get in and be grandfathered in that capacity. 

Currently the HOA has litigation pending with a builder, whose work affected another building.  Because of the lawsuit, traditional lending won’t work right now.  Got cash?  Cash is king and will garner the lowest price.  Let’s also talk creative financing.  The owners (who live in one of the units) would like to buy a house because their family is expanding, so they need enough down to secure the new property, but are willing to talk owner financing.  Are you interested yet?

“Identical” properties in terms of size, layout and bed/bath numbers.  Unit A has upgraded custom closets, hardwood floors.  Unit B does not have closet upgrades and is carpeted.  Unit A will sell cash for $214K and B for cash $210K.  Seller financing prices will vary, depending on amount down and terms.

Advertisements

One thought on “Investors – Check this out!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s