Anonymous
04/04/2024 19:43
Subject: Thoughts on this House in Bethesda?
Major road, insane price for a tiny, cheaply done house
Anonymous
04/04/2024 17:27
Subject: Thoughts on this House in Bethesda?
Anonymous wrote:Anonymous wrote:Agreed the brick fireplace looked much better, honestly I think (at least in pictures) old place looked better or comparable.
Furthermore, the listing says that they have put 125k in upgrades. I find that very hard to believe given that they bight it for 825k and only put down 73k or 8.8% (their loan amount is 752k).
What are the odds that someone who could not even afford to put 20% down on the place suddenly has 125k to put into upgrades and improvements...very low
Can't speak to the 125K, but flippers typically want maximum leverage. Tying up more money than is necessary in one investment property means less funds to deploy on other investment properties. So putting down the minimum necessary to get the loan has nothing to do with how much money they have to do renovations.
If they were flippers that would make sense, but to me it seems like the people who own it are not flippers.
They bought it two years ago and I do think live there. They probably realized the place is too small for them and are trying to move.
But yeah assuming not flippers, no idea how they can spend 125k in less than 2 years when they could only put down 73k when they bought, find it hard to believe.
Anonymous
04/04/2024 15:13
Subject: Thoughts on this House in Bethesda?
Oh man. That's a shame. They really sucked the character out. I hope they at least upgraded all the systems because otherwise, I just don't think some (pretty tasteless) aethetic changes merit a $200k+ price increase.
Anonymous
04/04/2024 14:56
Subject: Thoughts on this House in Bethesda?
Anonymous wrote:Agreed the brick fireplace looked much better, honestly I think (at least in pictures) old place looked better or comparable.
Furthermore, the listing says that they have put 125k in upgrades. I find that very hard to believe given that they bight it for 825k and only put down 73k or 8.8% (their loan amount is 752k).
What are the odds that someone who could not even afford to put 20% down on the place suddenly has 125k to put into upgrades and improvements...very low
Can't speak to the 125K, but flippers typically want maximum leverage. Tying up more money than is necessary in one investment property means less funds to deploy on other investment properties. So putting down the minimum necessary to get the loan has nothing to do with how much money they have to do renovations.