Reply to Just made someone's life much more complicated, oy vey

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP checking in.

I can't exactly say what prompted me to start this post beyond that it was a slightly surreal moment realizing you'd likely made someone's life complicated in just a few minutes of emails. But I am amused by the responses and getting some proper laughs from them.

There's no shortage of student housing surrounding the university and adjoining neighborhoods are predominately group homes for the students so I'm not losing sleep if several grad students have to move. I was intrigued by the suggestion that perhaps parents of a student had bought the house, but the listing clearly describes five furnished bedrooms for rent in a five bedroom house, so who knows what the story is.

Asking rent was $1000+ per bedroom. If a family had bought this house with 20% down, monthly PITI would probably be $4k. Food for thought. The neighborhood association prez was not pleased by this discovery. Understandably. I doubt people would have issues with a homeowner renting a spare room in the attic to a grad student, which likely does/has happened as most surrounding owners are faculty. But buying a house in this neighborhood expressly to rent it out as a group home is a different story. So I don't feel guilty in the long run. If that was the intention of the buyers, they had several other neighborhoods nearby where this could have been done. So they're learning a lesson. [/quote]

So it is a 5 bedroom, and they are asking $1k a month per room with PITI $4k.

Their expenses, maintenance, etc are on top of that.  You think they are making bank on this?  You are delusional and also psychotic to be invested in this…. but they are probably more delusional for thinking this will make them money.[/quote]

OP here. No. I was thinking the same as you. That if someone bought this as an investment, they're not being very smart, which is why I do wonder what the full story is behind the house. Possibly they bought it with the intention of moving in then something changed and they couldn't and are thinking they can rent it out as a group house for more money rather than a SFH rental because based on the scant rental data I have for SFHs, this would probably rent for 3500-4000, below the hypothetical 5k+ as a group. Mind you, if they took out a conventional mortgage then they're probably in trouble with the mortgage company sooner or later because mortgage rates are different for properties bought as rentals.

Sooner or later the illegal group house would have been discovered and reported. House closed last December. I'm not feeling guilty and I'm laughing at the hysterical people on here thinking I deprived poor students of housing. I doubt most of you own houses in family neighborhoods.

I really am not cackling and being gleeful. I do feel sorry for the owner if he or she thought they were just making a decent investment near a university and didn't do their research carefully. [/quote]

What exactly are you looking for, op? You keep posting and repeating that you don't regret your decision etc but have yet to make clear what you are seeking besides attention.[/quote]

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