I’M ROLLING NOW! - Posted by FREE SPRIT
Posted by FREE SPRIT on January 10, 2001 at 17:55:02:
Thanks to all you guys and your encouragement I went out today and looked at several properties. And I will continue to do this everyday! I did run across a real possibility-
The property was in the paper as a REO, it is
Single family home in a very nice area, near me actually.
It is 5 Bdrm, 2-1/2 Ba, 2 Car garage, finished basement, attic, huge house about 3500 sqft. with inground heated pool. Condition: Outside fairly good, Inside need’s about $20-25,000 of work because the people wrecked the walls, crapped on the floor, carpets need replaced, no appliances. But I know that every house on the block is valued at no less than 185k - 210k easy. I would luv to take this one for myself. The bank know’s it’s a wreck, the realtor handling it says he thinks it will sell for around $145-150k. Which case, if I didnt have to try to get a loan to finance the repairs would be fail. What would you guys offer them? I was thinking of offering around 65% of the market value contingent on the financing for the repair.
It won’t last long! FREE SPIRIT