If deemed necessary, reported comments will be removed within 7 - 10 days but usually sooner. Please submit this report ONLY if you STRONGLY believe this needs to be removed. Multiple illegitimate reports slow down the administrative process of removing the actual and more seriously unfavorable content.

Poster Name:
Mays

Poster Message:
It’s $16k a month to service the loan, taxes and insurance based on $1.5mil mortgage. You are going to need at least 20% down plus sufficient capital for improvements needed for a top tier frat or sorority after so many years of parties and abuse. You would need $500k cash on hand for a lender to even speak to you. $16k is not rent but a purchase if you understand the difference. People need to how things work if it is bought then leased out. Mortgages are paid on a 12 months basis while most fraternities pay rent on an 8 or 9 month basis. Factoring a 8 month rent cycle to pay a 12 month debit service the rent would be more like a minimum of $24k/month. That doesn’t include buyer's profit on investment.