It’s bitter sweet for me, as most of my sells are stocks that would give me some tiny profits from dividend and from the recent stock surge. I still don’t like to sell stocks, so I’ve made the executive decision to empty my savings plus whatever I sold to make $58k. I don’t want to wait until closing date to make buys and sells.
Here is a picture straight out of my brokerage account on my sells
I shopped around for a closing company, all of them quoted $700-$1000 to do the closing. Some of them even try to separate lawyer opinion from closing fee. Aren’t they the same? I found an alumni at my alma mater, and he got the price down to $650 in fee. Title insurance would be $110 instead of $1500 like the seller closing company quoted. The rest of the fees are fixed like abstract, taxes, etc.
Now, I’m just waiting for the closing process to take place. It seems like the lawyer is getting the wheel moving, as they can close it faster than the closing date of May 4th.
It was cool listing the house up for rent for my brother and sister. But I’m planing on listing it at $1200, a little higher than what they listed their house for. So I thought I’d give it a head start. I listed on Craigslist, and so far I get a bunch of people interested due to its location. It looks like the sooner I can close the house, the sooner I can get it fixed up, the sooner I can start racking in $1200 on my ~$58k investment.
Best of luck with your rental property
Congrats on raising cash and picking up a property WRI.
I hope you have a great week
-Bryan
Nice, now you can uplift the rental part of your income. All the best
Hey Vivianne, bitter sweet but congrats it’s all going ahead. Good luck that you get good tenants etc 🙂
Tristan
Hi Vivianne
If I read it correctly, you are selling some of your stocks to raise funds for your property right? In that case, it’s one asset to another, I think you’re just reallocating for a bigger prizewinner 😉
I hope it’s the right investment. 🙂 I’m a bit anxious as its getting close to the closing date.
Not a bad time to sell those positions in this market condition. Congrats on taking a step towards raising cash to invest in property.
Best wishes
R2R
I’m pretty lucky there. Had I have to sell in February, it would have been awful became the market has gained back and some.
Cheers!
You aren’t just selling and taking the cash. You are re-investing our capital into a different passive income stream. Best of luck with your rental property!
Thanks! I’ll try to post my progress here. I’ll add this property to my portfolio, see if it can out perform the s&p 500 or not.
Bro, thank you for the mention.
I bought the house on auction for ~$57K, it was paid off (not as down payment). I guess you’re so used to seeing houses in the $500k-2M in California or other high cost living area. 🙂
It’s part of the plan to have a paid off house once we moved away from the Eastcoast, it’d be cheaper than rent having that property in retirement. Most people wouldn’t call it retirement if they still have a mortgage. I’d like to have as little debt as possible once we call it off.