DEAL #2, HOUSE #5 - Posted by Rick-TX


#1

Posted by LHoffman on January 04, 1999 at 09:44:09:

Does the house needs repairs??? If so how much are they??? You could always flip this house to another investor…This way you could get a quick assignment fee around 2500-3500…Not to bad

LHoffman


#2

DEAL #2, HOUSE #5 - Posted by Rick-TX

Posted by Rick-TX on January 03, 1999 at 22:43:09:

Just want to Thank CREO , I just made my second deal
and I cant believe it , it was right under my nose, just a
block away from my own house. House had been empty for over a year. Decided I would investigate , Located
owner, (appraisial dist) . Owner had moved about 6 years
ago out of state. Didnt want to rent because of the distance. and bad renters ,so she just left it vacant.
So I called and asked questions and listened , guess what
I found ? (motivated seller) She was asking $32500.00.
So I checked around the FMV is between 39500-45000.
Called her back made offer of 26500, She said let me think about it. She called back a week later.,Said she could go to 28500,I counter offered for 27500. with a 2yr L/O.
She accepted. $325.00 per month, 25.00 towards purchase price. No down , no payment until I find suitable tenant /buyer. My ? is , The house will rent for 500.00 mth.
Should I keep and take the 175.00 cash flow or sell?


#3

Re: DEAL #2, HOUSE #5 - Posted by Laure

Posted by Laure on January 06, 1999 at 08:53:33:

Do the math… at 175.00 cash flow/ mo. it would add up pretty nicely for a couple of years. Then sell it !
and get double your profit !

Laure :slight_smile: