Posted by Mark(CO) on February 12, 2002 at 10:44:13:
Thanks Brent,
I have an appt Friday to take a look. I’ll have an offer ready then. I’ll keep you posted.
Any hope for this SFH? - Posted by Mark(CO)
Posted by Mark(CO) on February 11, 2002 at 23:10:26:
Okay, here’s what I have so far.
RE investor called on add. He is selling his last of 50 houses, a 3bed/2bath 1car attached.
Its in a nice location.
He paid 94k (he bought it on a 1031 exchange).
He is asking “in the 80’s”
He wants cash.
I found 4 comps w/in blocks of this house:
-115k 3/2 1car attached
-95k 2/2 1car attached
-110k 3/2 1 car attached
-110k 3/2 1 car port
The house is currently rented at 775/mo (at market)
Owner pays water/sewer/trash, tenant pays rest of util.
Taxes approx 600.
I would like to sell on a l/o.
All suggestions are greatly appreciated!
Re: Any hope for this SFH? - Posted by Brent_IL
Posted by Brent_IL on February 11, 2002 at 23:36:25:
I’d probably try for it. The rent is a little low, but the taxes are great.
After liquidating 50 properties he may be looking for completion, more so than money. Offer $60K and a quick close to see where his head is at.
If the comps hold up, an 80% LTV would cover your costs.