Lake House Southeast Us Fractional Ownership main
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Lake House Southeast Us Fractional Ownership five

Lake House in the SouthEast

4 available shares

$500,000

target home price

$100,000

cost per share

$989 / mo

estimated costs

$1,000 / mo

monthly income

CASH AT CLOSING PER SHARE
Down Payment
$20,000
Closing Cost
$6,000
Reserve Fund Deposit
$3,000
Total Cash at Closing
$29,000
Co-own this home
Details
3 bedrooms | 2.5 bath

Looking for a Lake house in the SouthEast including Alabama, Georgia, and into North and South Carolina. We're open to riverfront as well!

I'm interested
House Usage
  • 5 shares total
  • 10 weeks a year per share
About the Organizer

We're a married couple that just moved to Alabama hoping to find a spot where we can meet our daughter, who lives in Wilmington, to enjoy the Lake.

Amenities
We are looking for a house that includes:
  • Dock
  • Waterfront
House Rules
  • Only dogs allowed
  • Firearms allowed
  • Short term renting permitted
Answered Questions
Ask a question
Home Inspiration
5 Co-owners 1 of 5
$140,000 per share
5 Co-owners 1 of 5
$120,000 per share
5 Co-owners 1 of 5
$135,980 per share

Calculated Costs per Share

Lake House in the SouthEast
Southeast, US
CASH AT CLOSING PER SHARE
Down Payment
$20,000
Closing Cost
$6,000
Reserve Fund Deposit
$3,000
Total Cash at Closing
$29,000

This is an estimate of the amount of cash needed when closing on the purchase of a property financed with a 30 year Mortgage at 8.0% interest rate.

Plum’s estimate includes 20% of the value of the house as a down payment, 6% of the value of the house for closing costs (including Plum’s Group Success Fee) and 3% of the value of the house for the initial reserve fund.

ESTIMATED MONTHLY EXPENSES PER SHARE
Mortgage Payment
$587
Insurance/Taxes
$108
Repairs
$83
Maintenance
$83
Utilities
$82
Cleaning
$45
Total Expenses
$989
This total is an estimate of all the expected costs associated with owning a vacation home with a Plum certified ownership agreement.
Location, type of house, changes in interest rates and utilities can all change and affect the monthly cost throughout the term of ownership.
ESTIMATED MONTHLY INCOME PER SHARE
Monthly Income
$1,000
Total Monthly Income
$1,000

A good threshold for rental property investment is the 1% Rule (source). It states that you should only invest in rental property if you are reasonably confident that the property can rent for 1% of the sale price per month.

We’ve included that assumption here. It is critical that the group validate pricing, rental history, and future rental projections of any specific property before proceeding with a purchase. You can explore rental incomes of any property with this free estimation tool at Rabbu.com.

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