Re: OT: Opportunity of a Lifetime
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an 800k loan for 30 years with 8% interest is 5.8k a month.
an 800k mortage laon for 15 years with 6% interest is 6.7k a month.
If you're having 5 guys pay 1.2k a month, that's 7.5k.
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Yes, the owners can expect to make money because they take on the risk of renters not paying, real estate prices dropping, etc... I don't know the rental/real estate market in Austin but I suspect that it could still be a good/fair deal for both the renters and the people buying the house.
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I agree. The owners are taking the risk and should be compensated. In addition, the mortgage is not the only expense. There are property taxes, insurance, utilities, maintenance, etc. Without going into too much analysis, what they are asking seems fair at first glance.
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