Current Events > Just closed our second house!

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Cleo_II
12/01/21 12:47:43 PM
#1:


I know, brag topic, but Im so excited. We put an offer last month on a house and it officially closed today. We found renters for our former home and are now dirty landlords. It all happened so fast. We thought it would take months with how the market has been but the first offer we put out was accepted. No bidding war, got it at asking price instead of 100-200k over like other houses in the area. And its absolutely stunning. I cant wait!

We were lucky that the sellers just wanted to accept the first offer at asking and also didnt have a contingency to sell their home first. They needed the funds to buy their new house and needed fast closing. So thats why they picked us over a bunch of others.
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Cocytus
12/01/21 12:50:07 PM
#2:


Congratulations!

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CableZL
12/01/21 12:50:58 PM
#3:


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AP3Brain
12/01/21 12:50:59 PM
#4:


....Are we on facebook?
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CableZL
12/01/21 12:51:50 PM
#5:


AP3Brain posted...
....Are we on facebook?
No, this is GameFAQs

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cuttin_in_farm
12/01/21 12:51:52 PM
#6:


TC is objectively one of the cooler posters here. Cant even lie.

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MiIkMan
12/01/21 12:53:08 PM
#7:


Disgusting. If you don't intend to live in a house, you shouldn't be allowed more than one.

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AP3Brain
12/01/21 12:54:01 PM
#8:


cuttin_in_farm posted...
TC is objectively one of the cooler posters here. Cant even lie.

Okay. TC must have a vagina. The simping is making more sense now.
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Foppe
12/01/21 12:56:13 PM
#9:


Congratz.

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BlazinBlue88
12/01/21 12:58:23 PM
#10:


Nice Cleo! We just finished refinancing our home in Oct. We're saving $430 each month on this new mortgage.

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TheMikh
12/01/21 12:59:51 PM
#11:


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Makeveli_lives
12/01/21 1:01:13 PM
#12:


Im jelly

I paid 318 and they were asking 285.

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EndOfDiscOne
12/01/21 1:02:29 PM
#13:


Cleo_II posted...
We found renters for our former home and are now dirty landlords
@Shablagoo what are your thoughts on this

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AngelsNAirwav3s
12/01/21 1:08:38 PM
#14:


Nice! Just curious, did you have the cash for the down payment on the second house? Or did you do something like a HELOC on your old one? Also, are you using a property manager to manage the rental?

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PatrickMahomes
12/01/21 1:11:16 PM
#15:


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Gobstoppers12
12/01/21 1:37:18 PM
#16:


Let's see what wins. Landlord hate or the urge to simp.

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AngelicRadiance
12/01/21 1:42:29 PM
#17:


How will you get in now?

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Cleo_II
12/01/21 1:42:39 PM
#18:


Thanks all!

MiIkMan posted...
Disgusting. If you don't intend to live in a house, you shouldn't be allowed more than one.
Meh, better us than some investment company. We actually had realtors contacting us to buy our house on their behalf. We obviously turned them down.

BlazinBlue88 posted...
Nice Cleo! We just finished refinancing our home in Oct. We're saving $430 each month on this new mortgage.
Congrats!! The rates have been great.

AngelsNAirwav3s posted...
Nice! Just curious, did you have the cash for the down payment on the second house? Or did you do something like a HELOC on your old one? Also, are you using a property manager to manage the rental?
We did a cash out refinance. The value of our house went up 300k since we bought it 5 years ago, so we were able to refinance and cash out some equity that we used for the other house. We rented the house about $400 more than what our mortgage payment is, so it essentially is just paying for itself + maintenance.

No property manager. We will be living 10 minutes away and my husband is very handy. He fixed it up a ton before we moved out and is great at responding to our tenants if they need anything. We rented it out to a nice family that was just moving to the area and needed a place asap.
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AngelsNAirwav3s
12/01/21 1:50:33 PM
#19:


Ah nice. I use a property manager, mostly because I am lazy lol

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Cleo_II
12/01/21 1:57:02 PM
#20:


AngelsNAirwav3s posted...
Ah nice. I use a property manager, mostly because I am lazy lol
Id have done the same if it was just me. But thankfully my husband is good at that stuff. And the new tenants use the same bank as him so theyre able to just wire rent every month, no need to pick up a check or anything.
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radical rhino
12/01/21 2:21:32 PM
#22:


Why couldnt the sellers buy their new house before finalizing your sale? Is this how it works when people change homes? They just have a handshake agreement to buy their new home but they cant actually pull the trigger until they sell their current home? I thought lenders would have some sort of system for people who are simultaneously buying and selling.

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electricbugs2
12/01/21 2:22:08 PM
#23:


Can I just trade lives with you and your husband? Yall can have my TT and condo and I get your house and SQ5. Its a screaming deal Cleo! Less to clean and still a place for the car seat!

/s congrats though. Your out here living my dream.

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ssj3vegeta2
12/01/21 2:22:40 PM
#24:


Hey its cleo, glad everything is going well. Congrats on da new house, hows da baby?
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theAteam
12/01/21 2:29:07 PM
#25:


radical rhino posted...
Why couldnt the sellers buy their new house before finalizing your sale? Is this how it works when people change homes? They just have a handshake agreement to buy their new home but they cant actually pull the trigger until they sell their current home? I thought lenders would have some sort of system for people who are simultaneously buying and selling.

Usually it's written up as a contingency of the sale.

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Cleo_II
12/01/21 4:13:24 PM
#26:


radical rhino posted...
Why couldnt the sellers buy their new house before finalizing your sale? Is this how it works when people change homes? They just have a handshake agreement to buy their new home but they cant actually pull the trigger until they sell their current home? I thought lenders would have some sort of system for people who are simultaneously buying and selling.
Its a contingent sale. The contingency being the buyers can sell their house within a certain timeframe. If they fail to do so, there are heavy penalties and the deal falls through. Most offers will be contingent as most are selling their house in order to buy another one. We were the only offer that didnt have any contingencies. So it made ours the most attractive.

electricbugs2 posted...
Can I just trade lives with you and your husband? Yall can have my TT and condo and I get your house and SQ5. Its a screaming deal Cleo! Less to clean and still a place for the car seat!

/s congrats though. Your out here living my dream.
Haha thanks dude but I wouldnt trade for anything! As much as I would love a TT

ssj3vegeta2 posted...
Hey its cleo, glad everything is going well. Congrats on da new house, hows da baby?
Baby cleo is doing amazing. She is, objectively, the freaking cutest baby. We get stopped all the time by strangers. She has her daddys black hair and tan skin, with my round cheeks, big round brown eyes and pouty lips. Shes freaking adorable. Shes 7 months now and crawling everywhere and already pulling herself to stand against furniture. My whole family is obsessed with her.
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