OfflineHi guys here are my numbers for my latest acquisition. This was a bank owned property (REO).
1486 sq/ft
6148 ft Lot
Built 1953
SFR
4 bedrooms / 2 bath
2 Story
ASKED: 114,900.00
OFFERED: 100,000.00
COUNTERED: 104,000.00
ACCEPTED COUNTER: 104,000.00
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TO BUY & HOLD....
Note: 1145.12 monthly w/PMI
Interest: 6.5%
Term: 30 year FIXED
TYPE: FHA
Taxes: 1136.00 annual
Insurance: 901.00 annual
PAYMENT: 1314.87
RENT: 1650.00 Monthly
CASHFLOW: 335.13
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FMV: 142,800.00
REPAIR COST: 3000.00 +/-
REPAIRS: Paint house inside and out. Landscape yard and fill holes with dirt. Replace bathroom sinks and insert tub insert to cover chipping tub. Linoleum on bathroom and kitchen floors.
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ARV: 163,500.00 (comparable to comps)
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ASSIGNMENT COST: 30,000.00
(If I assign it this is 100% PROFIT)
CLICK HERE TO VIEW PROPERTY:
http://avrealestate.rapmls.com/scripts/mgrqispi.dll?APPNAME=Gavar&PRGNAM...
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
That is awesome, Anita. You continue to be a ray of inspiriation for me!
Good for you girl! I'm so happy for you and all your success. You motivate us all and thank you for inspirinig us to work harder.
Lloyd
Hey Lloyd why dont you post the numbers for the tax houses you got and did you have the original owners sign the waiver of rights yet?
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Hi Anita,
Did you submit offer to bank with an assignable contract?
Thanks,
Jennifer
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Hi Anita,
Did you submit offer to bank with an assignable contract?
Thanks,
Jennifer
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Hi Anita,
Did you submit offer to bank with an assignable contract?
Thanks,
Jennifer
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Hi Anita,
Did you submit offer to bank with an assignable contract?
Thanks,
Jennifer
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Hi Anita,
Did you submit offer to bank with an assignable contract?
Thanks,
Jennifer
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Congrats! Nice deal you got going there. I recently ask one of the coaches if you can submit offers with an assignment clause to a bank. He stated that banks wouldn't usually do it, but if you had someone lined up to purchase the property they would consider it. Obviously, it worked for you so I guess it can happen. Great Job!
Wayne
"The entrepreneur always searches for change, responds to it, and exploits it as an opportunity." — Peter F. Drucker
sorry.
Thanks for the info Wayne.
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard