CASH FLOW OPPORTUNITY - 5/3 Duplex Southern California

How much is the rent?

"Appraised 5/07 for $405K."

An appraisal this long ago doesn't mean much. What is it worth NOW?

"1. Owner will pay 100% of DOWN PAYMENT"

I am confused by this. Do you mean that the owner will bring 70K to closing?

What are the rents?

PI on 280K @7% would be 1862.
T would be ~3000 per year or ~250 per month.
I probably in the 75 a month range.
So PITI would be ~2187.

Will each side rent for ~1200 a month?

Don't need the address but what county are we talking about.

GL

3/2 rents for 1100.00 per month and 2/1 rents for 1000.00 per month

the owner will pay whatever % the bank is asking as down payment 5% - 10%- 15% etc.

PLUS

Give 10K back at closing CASH

The rents are below.

Los Angeles County

Is it legal to get cash back? Or do you mean reduce the price by this much?

By the way, I think you're the first one to bring an actual solid proposal to the site. Way to go!!! The girl puts her money where her mouth is!

Rina

Rina I assume it is in California because they do it here all day long. Thanks for the props on the deal. I just got another on. FSBO 205K, owes 155K and must sell immediately. Not a short sale or foreclosure but she will be moving in 4 months and need the money. Man!... I am working arent I!......lol

Whew! Let us catch up!!
(I don't know how to put the smiles in or there'd be a whole page of them!)

Rina

I can honestly say I have never heard of anybody saying that they would pay the down payment for you on a house and then give you the choice of picking from 5% on up to over 15%. SO I have stupid question...who would choose the 5% down payment option?

ok...lets see if we can get this straight. The owner is anxious to move the property. I used those % as an example. It is really based on what you bank approves you for i.e., 95/5 or 90/10. That is what I meant and I was using those %'s as examples. Sorry for the confusion. So its not a choice it is what you are qualified for. As I am sure you knew in the first place. So smile :')

OK, I was trying to be funny...I did get a kick out of that though. My question to you though is this...I think you are making a mistake assigning this deal to an investor, this guy is super motivated and you have a no money down, cashflowing, equity machine on your hands. Why wouldn't you just buy this thing? If you can't get financed by a bank just ask him to finance you. You are literally passing over a ton of money by not taking this one for yourself. I mean, the guy is offering a no money down deal and giving you $10K at closing? $10K! You could literally pay the mortgage for 5 months while you rented out the other side and put it back up for sale. Unless there is something missing here this is a no brainer....Do me a favor and get the actual taxes,insurance, and get comps for the area. Also, do the tenants pay all utilities? Are there separate water meters, garages, furnaces, electric meters? How much are you asking for the assignment fee? I would be willing to do the deal if all of the numbers work. I like getting paid to buy a house. By the way, make bank says I will need to put 20% down on this one!

Yeah... 95/5 doesnt really exist any more. I dont think even 90/10 is do-able. Maybe as an owner occupant but not as an investor.

Even 80/10/10 is a problem. Banks have really tightened up and just keep going in that direction.

Why don't you just take the deal?? It is no money down and looks to be about braek even cash flow...

Honestly, I cant take it because like I said before my credit sucks and I cant get finance. I have over 100K in medical bills on there. So thats no secret. Yes I know it is a no brainer...but not for me. I am requesting all info that you asked for and will post it later today. Thanks for the inqiury and BTW....your sense of humor really amuses me. :D :lol: :D

Taxes: 240.00 month
Ins.: 60.00 month
Sepertate meters for power
Water on single meter (bills runs about 100.00 every 2 months)
2 car garage and carport
Central heat and air
Comps: 365K high and 320K low]

This is NOT a short sale or foreclosure.

send me your email and I will forward pics.

First, let me ask you this again...how much are you asking to assign this deal?

I am only asking 3500.00 that is 1% and you would be working directly with the owner.

If you would like to see pictures let me know

You are expensive! Is that price negotiable?

now that I have your attention I am only asking 1650.00 for the referral.

Girl, you gotta get some investing money and keep the big bucks for yourself!
I'm guessing that's your goal! Way to go, though, with the deals you're doing!
You sure have an "I don't take no for an answer" attitude. You go!!

Rina

Rina I really have no choice. I am not able to work a 9 to 5 anymore and if I cant make this work for me then I dont know what I will do. So determination is the way!

I agree. You're doing great. Can't wait to meet you. If we see it like we want it, it will happen. Right?

Rina

I live in Southern California, tell me please where this deal is.

I am located in North County San Diego. I aminterested in this deal.

Please respond,

Thank you,
Ryan

Is this deal still up for grabs?

Hi Ryan

yes the deal is still open but I need to close on it ASAP. My referral fee is 1650.00 and you would be working directly with the owner. Please send email or email me at anitarny@gmail for the pic.

Come on guys. You are always on here asking about where to find a GREAT deal. I sit one in you face and I get no response. The owner is very motivated but firm on price but is offering to pay the down payment up to 15% and then GIVE you back another 10K at closing. This is not a foreclosure, short sale or any kind of distress. He needs to sell so he can move on to other things.

SOUTHERN CALIFORNIA DUPLEX!!!!!!!

contact me!

send me the details please.

my email is: spiritual.networking.llc@****

Can you send me the address of the property? Or at least what city is it located in?

Thank you,
Ryan

Thanks Ryan I will send info in a few minutes along with pics