6 unit 48% under ARV under contract - Posted by Mary-Oh

Posted by Mary-Oh on April 20, 2006 at 10:36:11:

Loan amount will be 129,000.00. This is purchase price and re-hab/holding costs. Comps for area are between 200,000 to 249,000.

6 unit 48% under ARV under contract - Posted by Mary-Oh

Posted by Mary-Oh on April 18, 2006 at 18:21:16:

My next sentence after the subject line is…NOW WHAT? I hate exposing my ignorance but I have gotten so close so many times but failed to keep the deal, I’m ready to admit…I don’t know. Here’s the deal. 6 unit, all 1 brs. When I’m done rearranging the rooms, they will have a living room, 1 Bedroom, nice bathroom and lovely large eat in kitchens. Lovely old, but well kept neighborhood. $107,000 asking got them down to 90,000. 30,000 in repairs and improvements. ARV based on area comps., 185,000. They will agree to the 90,000 if we can provide proof of funds. That is my problem. Financing a property that can’t support itself right now plus finding cash for repairs and closing costs. Could someone direct me as to what to do now? Or maybe there really isn’t a deal here after all. I would really like to buy one of these bad boys while I’m still young…and time is running out! Smiles Thanks everyone. Mary

Re: 6 unit 48% under ARV under contract - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on April 19, 2006 at 08:49:38:

What is the requested loan amount?