Grand Rapids Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Want to play "critique this house"?
(And yes, GVSU, we will be starting our LLC before we sign on any more dotted lines. 
)
It's a foreclosure.
It's in a school district that I would send my own kids to.
Our PITI would be less than $300 on a 15 year loan.
Based on the market, we could get $700-$750/month rental income.
It has 4 bedrooms and 2 bathrooms. (No pics of the bathrooms available)
It's only about 1,000 sq ft.
What do you think? I think we might go take a look at it. They just dropped the price from $59,900 to $41,900. It sold in 2007 for $115,000. Realtor thinks Fannie Mae is just trying to recooperate a % of what is owed.
Re: Want to play "critique this house"?
Looks like a nice investment - how is the neighborhood? You said a good school district - is it just decent or is it a desired district?
Otherwise, there's a lot to like about it - More than 2 bedrooms, more than 1 bath, cosmetically fine (just some paint/yardwork to make it look nice, good price it sounds like, fenced yard.
I think it's desirable. Definitely not undesirable (like our current rental). It's the school district I went to, and our friends just moved their kids out of the school district where our current rental is into the potential rentals district.
I'm having a hard time picturing 4 bedrooms in a 1000 sq ft house.
My parents house is 1150 and 3 bedrooms, they have little wasted space.
I think the rest is cute. I'm glad you have the initiative to do this.
Me too. I'm interested to see it.
I'm pretty sure the attic was converted into a "bedroom" and I'm sure the 3 main floor bedrooms are fairly small.
The rental market is great as far as I can tell.
We had 10 people call on ours within days of it being listed, and had it rented out in about 2 weeks (could have been sooner but we were still moving out of it.) Our tenants have been great so far. Our friends had 15 people repsond in the first day and had to take down the listing.
And my cousin is also getting into this and had no problem renting out his rental.
I say go for it. Now you have your own home right?
I don't ever expect tenants to stay for more than their 12 month lease (of course it would be wonderful if they did...but 12 months at a time is all that we ask for.
)
Our neighbors rented their rental for 7 years and it was about 750 sq ft. Those would be my dream tenants.
Under the tax information, it's listed as 1200 sq ft. I think I'll be taking a tape measure along to the viewing to get the actual sq footage.
And I would never bank on making money on a foreclosure. Defnitely not guarenteed!
The person we bought our house from bought it as a foreclosure in 2007 for $155k. We just got it for $115k. She lost over $40,000 in the deal (she had to bring $5,000 to closing just to unload it, along with her other losses.)
Before she bought it, it sold previously for $180k. She probably thought she got a good deal on it as a foreclosure, but the housing market showed her.
I just believe the houseing market HAS to go up!!!!!! It just has to!