NEED ADVICE ON BUYING TWO FREE AND CLEAR HOMES!! - Posted by Julio

Posted by Jack Compton on November 09, 2000 at 23:31:31:

It’s good to see you again :slight_smile:

Here’s the link addy: http://www.creonline.com/wwwboard/index.html

It’s also found at the top of the Creonline page under:

“Please Note: General questions or comments about investing in real estate, paper or mobile homes, should be posted on our Main News Group.”

At the bottom left. Talk at you another time :slight_smile: —Jack

NEED ADVICE ON BUYING TWO FREE AND CLEAR HOMES!! - Posted by Julio

Posted by Julio on November 08, 2000 at 19:20:40:

Hello,
I’m pretty new at this and would like as much feedback as possible. I found a seller that has two homes on the market. A two family home and a single family on the same lot. He is selling them both for $230,000. The homes are on the same lot and I figured that for that area rent will be around 600-650 for the two family apartments, and around 700 for the home or more. The seller does not want to take back any financing and he owns the homes free and clear. I don’t want to let this oppurtunity pass, it seems like a nice investment. Any ideas on how to work this out…

Thanks,

JULIO

Re: NEED ADVICE - Posted by Larry

Posted by Larry on November 22, 2000 at 18:28:19:

Yes. You need advise. Get an appraisal by a State certified appraiser. When you buy an income producing property you are buying an income. The income on these properties would indicate a real value of about $170,000 which would provide about a 10% return. An appraiser can fix the rental amounts correctly and will calculate the return with facts and figues that I don’t have.

Lucky you, I saw your memo.

Biglar

Post this on the MAIN News Group - Posted by J.P. Vaughan

Posted by J.P. Vaughan on November 09, 2000 at 07:02:34:

If you want responses from more experienced investors,
post this on our MAIN News Group.

JPV

Re: Post this on the MAIN News Group - Posted by Michael D’Addario

Posted by Michael D’Addario on November 09, 2000 at 21:57:34:

WHERE IS THE MAIN NEWS GROUP???