OfflineI have access to 14 duplex one level property going up for auction very soon. They're located in Canton, Ohio. Each duplex is worth 100K and can be taken for around 40K or 50K each. I'm very new to this and I understand what I'm doing now is called "bird dogging." I have the product don't have the buyer. And the academy wants $500 before they will even start coaching me. I'm a widow and just don't have the money right now. These 14
duplexes are 96% occupied worth 100K and will go for approx. 40k that's getting $1.400,000,000. worth of property for 400k and they generate a positive income of $196,000.00 a year - great deal! Most have been freshly painted. They also can be bought seperately. These duplexes are in a prime area and each one sit on large beautiful trees shaded lots in an area surrounded by $120k to 300k homes. Many of these homes are new. No crime area, great schools, close to shopping and freeway close. If anyone knows what I need to do next, can help me, or whatever please contact me.. Like I said I'm new.
Thank You So Very Much,
Sharon
duplex income property to go to auction - sheriffs sale
Posted on: Thu, 11/18/2010 - 00:50
duplex income property to go to auction - sheriffs sale
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Hi Sharon
Sounds like a great potential,the problem is they are going to auction,and when there is a good deal other investors with cash flow will be there. And I'm sure the price will go higher. Also with auctions they usually require a 10% deposit, with the balance dew in 30 days.
With out the funding your self I would not spend a lot of time on this one.
You should look for some deals that you can lock up with little or no money down.
Good Luck, keep pushing on your on the right track. Any action is better then no action.
Jim Kendrick
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
Shanna,
check out these sites.
www.trustpointcorp.com <<< Corporate website
www.birddogprogram.com <<< Bird Dog Program
www.wepayhighrates.com <<< Private Mortgages
www.offermax.com <<< We Buy Houses
They are all for one company, but there is a bird dog program that may be just what you are looking for. Let me know if this works out for you because I want to work for them too, but I am not in their bird dog area right now, but I think you are. Either way, it would still be worth the look and maybe they will purchase some of the properties and pay you. Remember, you don't get if you don't ask.
Jeff Dante (hope this is helpful)
Here in Fl. any county auction requires ALL CASH by close of business the same day of the auction. If this is a foreclosure auction held at the county court house, usually the bank (process server, representing the bank) requires
the "judgement" amount to win high bid. In most cases the judgement is much higher than the property is worth, so there is little to no biding & the property goes back to the bank. Now this REO will be listed with RE broker.