Your terminology is confusing. I have only used LTV as the ratio of the mortgage loan amount to the purchase price.
In your case (assuming you paid all cash), I might say that I purchased at 42% of FMV, or, at a 58% discount to FMV. Since it seems that you might not have any financing involved, is there another context for LTV that differs from my connotation?
Absolutely killer!! This is what makes this business so worthwhile. They don't come along like that everday but when they do it makes all the missed deals, passed deals, uncooperative Sellers, etc. not so hard to take.
I hope I speak for alot of us that simply say, "Youda Man!!!"
How did you find out about the sheriff's sale? Newspaper? Website? Thanks for the info
You da Frogger!
Way to go,
Jeff
Your terminology is confusing. I have only used LTV as the ratio of the mortgage loan amount to the purchase price.
In your case (assuming you paid all cash), I might say that I purchased at 42% of FMV, or, at a 58% discount to FMV. Since it seems that you might not have any financing involved, is there another context for LTV that differs from my connotation?
MyFrogger,
Absolutely killer!! This is what makes this business so worthwhile. They don't come along like that everday but when they do it makes all the missed deals, passed deals, uncooperative Sellers, etc. not so hard to take.
I hope I speak for alot of us that simply say, "Youda Man!!!"
Congratulations!!!
Dave
[addsig]