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URL:  https://boards.fool.com/in-metro-areas-like-acworth-and-kennesaw-34923875.aspx

Subject:  Re: Paying over asking - I feel dirty Date:  9/4/2021  7:37 AM
Author:  Bonroy1924 Number:  14364 of 14391

In metro areas - like Acworth and Kennesaw it's been nuts.

IN the same townhome complex that I went $7500 over asking, in the last week (1) identical unit sold for $2500 less than I paid, and another identical unit sold for $1500 less than I paid.

However, mine is an end-unit, so I'm hoping that means something. The smart people are saying that inventory supply will rise in the coming year, making for less of these multiple-offer-over-asking- situations. So, I'm hoping I can say to myself in coming years that this unit was not a steal by any means, but it wasn't a loss. Sometimes I like "easy" in that A/B tenants are plentiful and there's not really much aggravation or too much risk.

Cobb County has 760,000 people - forecasted to go to a million by 2050. A developer recently bought land 5 minutes from the one I bought - - to build 900 homes. Those are $150,000 more than the place I bought so all that accounted for, I'm hoping this is a 'steady Eddie' for me. I wanted to deploy some cash - - and have a bit less exposure to dollars and paper assets.

Would like to buy another 3-6 units - - but I'm holding off to see if things get a bit more normal 6 months from now.
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