Anybody Interested In This Deal?
Hello all. Here is the scenario; if anybody is interested, please send me a PM.
I have a lead on a REO property in NYS. It is a vacant duplex, with 2 attached garages that could be rented, 1,300 square feet total (the home). But...it might be occupied! My partner claims he thought he was told that both units were rented, I thought I heard it was vacant...I should know for sure by tomorrow...
At any rate, property is going for $9,900. The REO mgr claims it will appraise for $25K, but he also claims it needs $10K in rehabbing, and that in it's rehabbed condition it's worth $48 - $50K.
Is anybody interested in purchasing it from us, as is, for some sum above $9,900 and below $25K!?!? We would wish to flip it over immediately. We would buy it cash - no seasoning requirements to worry about...
If you are interested, PM me...
Thanks
If you look at the top of the page you will see the TCI Realty tab that is where this should be posted.
But besides that at this time you don't have any real info on this property.
You need to run your own comps, get your own estimates on repairs and find out if anyone lives in the place.
This is the very minimal amount of info a birddog needs to have before presenting a deal to an investor. Without that info your wasting your time.
What your saying right now is I think I found a deal. Someone told me it was a great deal. Will you buy it form me at a big profit but I don't know what it is.
BTW even if you pay cash on your side seasoning is still an issue when the next person tries to finance it. [ Edited by lacashman on Date 11/17/2003 ]