Enough profit? - Posted by Tim

Posted by Tim Fierro (Tacoma, WA) on July 17, 2002 at 17:56:34:

Although your county assessor is normally within a couple of hundred, you need to determine if the property you are purchasing fits that ‘normal’. The best way is to determine what the FMV is. When you have that, you will know if it is a deal. You don’t want these properties to be ‘abby-normal’.

But yes, if you can get those 2 for $60k, and they are actually worth $81k; I like it when it is coupled with the extra 2 properties.

But there are houses on the first 2, right? If it is just raw land, what is your exit plan?

Enough profit? - Posted by Tim

Posted by Tim on July 16, 2002 at 18:08:20:

Ok ONE Owner
4 properties

  1. seller is asking 33K
  2. seller is asking 27K
  3. " " 2,500
  4. seller is asking 2,500

He is willing to lease purchase
Our county assessor is normally within a couple hundred dollars of an appraisal value. I don’t have appraisals yet but here are the tax figures.

  1. 44K
  2. 37K
  3. 8500
  4. 4500

Owner is willing to lease purchase. I’m thinking about taking all 4 at the price offered on a 3 year lease option.

Is the 10K difference in tax value and asking price on both properties 1 & 2 enough to make this a sweet deal?