  Michigansheik Member Username: Michigansheik Post Number: 304 Registered: 09-2005 |
My friend will soon relocate to Florida, due to work, and did not get his Loft bought as part of the relocation package. So he's forced to sell his Loft short sale, which means the price is definitely right! It's in excellent condition and great for entertaining. Before you suggest it, he can not rent it at a competitive rate and still cover a majority of his monthly commitments. Sadly short sale is his best option given his time constraints but this could be a win-win in the end. The tax abatements will transfer to the new owner too. Please check this place out at the link below and share it with anyone that may be interested. Might be good for an investor as well. http://www.realestateone.com/2 8064139 | ||
Sean_of_detroit Member Username: Sean_of_detroit Post Number: 248 Registered: 03-2008 |
Good location when we get that Woodward line...  | ||
Paulmcall Member Username: Paulmcall Post Number: 976 Registered: 05-2004 |
I'm sure that's right around the corner. The only good thing for an investor would be as a write off. | ||
Swingline Member Username: Swingline Post Number: 1111 Registered: 11-2003 |
quote:$125,000 for that unit seems like a very good deal. Even including condo fees, taxes, insurance and utilities, a buyer's cost after deductions for property taxes and mortgage interest would only be around $1,000 per month. | ||
Michigansheik Member Username: Michigansheik Post Number: 306 Registered: 09-2005 |
i agree. For an investor i would think the unit could lease it for $1000 per month which would cover the monthly bills of an investor if they can put down 20%. What I don't know is if the tax abatements would apply for an investor. That would change the scenario quite drastically. But for a owner live in place at 125k or less its a nice place. | ||
Newlaster Member Username: Newlaster Post Number: 245 Registered: 06-2004 |
No ads in the Discuss Detroit section. |
