Offline2 bedroom - 1 bath - Double lot
Single Car garage
Asking price is 33,000
Listed Price is 39,900
Appraisal is 54,470
Currently rented for the last 14 years by the same tenants ($500 per month)and they really don't want to move. They would love to buy but they dont have the credit to buy. Current owner want out and will not owner finance.
PM me with any questions, I have done lots of homework on this, including a walkthru.
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4 individually-deeded townhomes totaling 4,880 SF (being sold as a four-unit building)
Asking price is $261,500
Gross monthly income of $2,941
The tax value of this property is $322K
Each townhome is approx. 1,225 SF with three bedrooms, a finished basement and 1.5 baths, and all are rented. Three of the four townhomes have a wood burning fireplace in the finished basements. Each unit has central AC/Heat, dishwasher, fridge and WD hookup. Tenants pay for all utilities (this includes gas, electric, water & trash).
PM me for more information.
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4 bedrooms, 1.5 bathrooms Ranch Style, central air conditioning and a large 2 car garage
Asking price is 27,000
Estimated Repairs: $6,000
ARV: $60,000
Equity: $27,000 ($28,500)
FMV (Zillow) $61,500
Taxes: $127
Insurance: $35
Gross Rental Income: $695
Total Expenses: $162
Net Cashflow: $533
The home is in good condition but needs some work to be rent-ready. This includes new flooring, interior paint, exterior paint on the garage, gutter repairs, general door repairs, bathroom repairs, etc.
PM if interested
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This 3 bedroom, 1 bathroom ranch
Sales Price: $26,000
Estimated Repairs: $5,000
ARV: $60,000
Equity: $29,000 ($23,500)
FMV (Zillow) $54,500
Taxes: $112
Insurance: $35
Gross Rental Income: $650
Total Expenses: $147
Net Cashflow: $503
Has newer windows & roof,spacious kitchen, updated bathroom, fenced back yard and a nice garage. The home is in good condition but needs some work to be rent-ready. This includes new flooring, interior paint, exterior paint, general door repairs, minor bathroom repairs, etc.
PM me if interested!
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More to come as I have time to place them here.
Kevin
SHORT TERM & Long Term GOALS
Expand my knowledge about REI and read 2 more books.
Never Give up and Succeed!
Kevin,
That's great to hear! Where did you find these properties? Have you gotten an idea of what the fair market value is of these homes?
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
The first property I found while at work, one of my co-workers heard that I was getting into the market and asked if I might be interested.
The second I found while calling for rent ads.
I have 3-4 others I have not posted, but all of those I found from one guy who is an investor in my area.
As far as fair market value goes, I have had some trouble determining that because of being as new as I am I am still researching to find out how to determine fmv. I would gladly accept any advice from you or anyone else that may be able to help.
Kevin
SHORT TERM & Long Term GOALS
Expand my knowledge about REI and read 2 more books.
Never Give up and Succeed!
You can try zillow.com for your comps (FMV) or if you have an RE agent, let him/her pull some comps on the houses in that specific area that was sold within 6 months to a year. You should be able to get a realistic idea of what your FMV should be. Hope that helps. Good Luck.
D'Angelo
"A Winner Never Quit And A Quitter Never Win!"
Thank you for the advice. The current FMV for the first property is correct with what I have listed (zillow says 78,500 though), however, the second property I have listed is 4 units all are being listed individual of $94K – $126K which seems to be the normal for these addresses between the 3 sites I have went to.
Kevin
SHORT TERM & Long Term GOALS
Expand my knowledge about REI and read 2 more books.
Never Give up and Succeed!
the best and most accurate and true fmv is what has sold in the immediate area in the last 6 mnths or pref less that is the same quality and size as close as possible.as stated above these r comps or comparable sales that a real estate agen can run for u.start to form a team with of course a real estate agent that u r comfortable with and they can cut your work in half!.
also try totalview.com this is under student resources on this site just to the left here and says real estate analysis system.THIS TOOL IS GREAT.
way to take action!!
jay
Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
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CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...
Thanks for the heads up. I have used totalview.com in the past but I wasn't sure the numbers it spit out were completely accurate, I guess accuracy is in the eye of the beholder so to speak. I have used a REA here recently but she is currently tied to another home that was being offered to me (the first one in this post) and I am hesitant in using her until that property has been sold.
I am working on my team assembly everyday and hope to have everything complete here soon but i dont want to rush it and burn a bridge I may need in the future.
Thank you for the help, I really appreciate it.
Kevin
SHORT TERM & Long Term GOALS
Expand my knowledge about REI and read 2 more books.
Never Give up and Succeed!
Anyone interested?
Bump
SHORT TERM & Long Term GOALS
Expand my knowledge about REI and read 2 more books.
Never Give up and Succeed!