Posted by PBoone on June 20, 1999 at 08:01:33:
Thanks I look forward to hearing the REAL condition of the property. We get calls from all areas of the country and it is always a challenge to get the real scoop especially when a seller is involved.
Pat
To Jackie in Dallas - Posted by PBoone
Posted by PBoone on June 19, 1999 at 11:42:28:
Jackie,
A Piece of vacant land is being offered to us cheap or so it has been claimed. Will you give me a true opinion on
2711 Hunter St Dallas Tx
Thank you
Pat
PASS - Posted by Jackie in Dallas
Posted by Jackie in Dallas on June 19, 1999 at 12:40:08:
Checked the tax records and found out it has been owned by the FDIC since 1989. Land value $1,950. The tax records indicate there is a 625 SF house on the property with the improvements being taxed at a value of $11,910. The house was built in 1943. MAPSCO 56D
I check the comps… NOTHING has sold in that MAPSCO in the last 9 months.
Two listings were EXPIRED, one was a 798SF house on the market for 140 days at $25,000 the other was a 1008 SF house on the market for 91 days at $13,500. Apparently they can’t even give them away!
My recommendation PASS!
Re: PASS - Posted by PBoone
Posted by PBoone on June 19, 1999 at 16:49:51:
Suppose I told you I could purchae this @ $500.00 What would your next opinion be?
Pat
Re: PASS AGAIN! - Posted by Jackie in Dallas
Posted by Jackie in Dallas on June 19, 1999 at 23:26:42:
Even if you could get it for free PASS.
As soon as you got possession of it the holding costs begin. That’s mowing the lawn, liability insurance just in case some kid gets hurt on the property.
And what in the world would you do with a slab of land that nobody wants? Even putting up a “We Buy Houses” sign on the lot in that area wouldn’t get you much!
Just say - Next!
Re: PASS - Posted by Bud Branstetter
Posted by Bud Branstetter on June 19, 1999 at 21:46:21:
The closing cost would not be worth it. There could(likely) be back taxes or weed liens. Then there is probably a boarded up house that is better as a Walker blower-upper than a fixer upper. Even if you could fix it up there are few people that would want to buy in that area. I know the general area and there are many vacant lots and boarded delapidated houses in that area. As aggressive as Dallas is in demolishing houses the only reason it hasn’t may be the FDIC. I will drive buy and look at it for you this next week. Not optimistic.
Re: PASS AGAIN! - Posted by PBoone
Posted by PBoone on June 20, 1999 at 07:59:01:
Thank you, It is nice having solid Investors to work with for these things. Saves a flight
Pat