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Subject:  Paying over asking - I feel dirty Date:  8/31/2021  10:58 AM
Author:  Bonroy1924 Number:  14359 of 14391

Yes, I've done it.

Current rentals are in Northern Virginia for years and doing fine - no home runs, but very easy and steady doubles and triples - max (1) month vacancies and average 2 years tenants with nice appreciation along the way.

I've been wanting to acquire more but as everyone here well knows, it's been tough the last year.

I keep waiting for "a dip", only to see prices go higher.

Well I've been wanting to add investments and start in the Atlanta area - so it seems this week.....I paid $7,500 over asking price.

It's typical me - low risk, probably won't be huge returns...but I'd be shocked if it took any time to get a quality tenant to rent it. Turnkey, move-in ready.

First time I paid over asking price. But I figured - even if ROI, solely on rent - factoring in all maintenance and property manager fees - - even if its 3.5% it is better than 1.% on Cds , or 1.5% on money funds. I don't want 3.5% to be my endgame - but for now I don't mind camping out with humble hopes of some appreciation to come over the long term.
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