OfflineHappy Holidays Everyone! Need a little help from the experts here:
Got a bandit sign call about 2 properties, that are side-by-side, for sale in Columbus, GA (I & the seller live in Atlanta).
Home-A (2/1.5 ~ 777 sqft) is paid for (FMV: $43K Asking for $25K), and currently renting for $450/mo.
Home-B (3/2.5 ~ 1,333 sqft) is upside down (FMV: $45K / Owes $60K Asking for $75K), currently renting for $800/mo - Foreclosure looming after 3 months of no payments (older owner, tired of long distance landlording, and is not concerned about bad credit). Says has extra unit in backyard w/no water & land large enough to build more on.
This is seller's first attempt to sell & neither home is listed with an agent. She called mainly about Home-B, but mentioned the thought of a package deal. That's where my brain short circuits.
I see a wholesale deal with Home-A.
I see nothing with Home-B, other than some attempt at a short sale with the bank (& double close wholesale)?... HELP? No package deal here, right?
? PLUS ? - Is anyone doing business in this area or beyond interested in partnering on this one? I have no one on the ground in Columbus, GA to inspect the properties further for ARV, and I'm new at this, so I'm shaking in my Xmas boots.
I know we're all busy investing, celebrating Xmas, and preparing for the end of the world, so I thank anyone who can help during this busy time.
Stay Warm, Be Careful, & Enjoy!
That was a funny ending! House a is under 1000 ft, so quite small, and I think they could be asking too much? It depends on the condition of it and the neighborhood. It is hard to know unless you have someone on the ground there.
House B underwater would be a short sale; you could contact me by pm and maybe we can help. Tammy
www.tw4homes.com website
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