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Originally Posted by ShaggyX
My Mortgage is $1300 for 1200sqft (800 unfinished basement) in Parker ("older" house). I bet you could have gotten more out of your's...but as long as they don't trash the place I wouldn't complain.
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Larger houses are going for less. I was only hoping for $1550, but they jumped at $1650. Partly, I think, because (small world) the wife grew up a few blocks from our house, they know and like one of our Thornton neighbors (retired Marine Aurora Police Officer), and they're pretty well off. They are trying to sell their $1M plus home in Ohio. They expect it to take a year and don't want to buy until they sell. so, they're renting that one for a year while they try to sell.
I think they're perfect tenants. Our mortgage is only $1,570 - locked into a no-money-down, 5%, fixed 30-yr VA loan in '03.
So, we're already making a profit in 3 years. It's also appreciating, and they're paying off our mortgage. I love the property game.