OfflineSingle family home in my neighborhood went into foreclosure some time ago in the perfect most desirable area of town. Ended up going under contract with another buyer but my wife and I kept a lookout for the progress....it ended up falling through and back on the market...we immediately put an offer in and it was accepted!!!
Details:
Town assessment $214,000.00
Appraisal as is approx. $160,000.00
ARV: approximately 200-210K
Asking price was originally 160K and dropped to 135K last week
Accepted offer of $125K
Needs approx. $20K of cosmetic upgrades + our labor
Sell for aggressive price of $190K
$40+K in profit!!!
Bank will lend me around 125K and getting additional money from private sources with a 60/40 split of the profits to make deal work.
It can be done!!!!!! Keep the faith!!
Luck is when Preparation crosses paths with Opportunity!
Congratulations, thats awesome! When you want something so much, you just know it's going to happen.
Dare To Dream & Work To Win
It sounds like a great deal for everyone.
Steve and Veronica
Steve and Veronica
Steve and Veronica's Journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58073/...
http://www.deangraziosi.com/real-estate-forums/totally-fulfilled/72344/d...
Great job!
Always nice to hear about a successful deal. Your deal will provide inspiration for more DG family members than you can imagine.
Congrats!
Kurt A. Conway, MSHA, President
The Conway Financial Group, LLC
Real Estate Investor
[email protected]
Comments are much appreciated!!!
My hope is to provide new investors real true stories based on my journey that can help them move the ball forward...
As always....feel free to ask questions because initially i would always get confused in some of the details.
Luck is when Preparation crosses paths with Opportunity!
It is always a celebration to me when another DG member closes on a deal. This only goes to show that real estate could be a reality if your goals turn into actions. Congrats on a job well done. God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
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