Hi All
I am new to the site and real estate investment and a bit nervous about a Short Sale investment that I want to pursue and request any thoughts of how I to best handle this.
This property is a 0.16 acre, 1 story 1959 built with 3 bed rooms and 2 baths, 3 beds on main level, and storage space in the lower level and has Anderson windows and 2 detached 2 car garages, both insulated and one heated. It has 1450 sq. ft. It is close to major shopping, interstate and also corporate offices and in a good community and school district. Property is also on the bus line. Similar homes in the area sold for 130K to 140K. Property taxes are approx. USD 2400 annually. This is a Short Sale property and currently priced for 90K. As mentioned in Dean’s books the FMV is ranging 125K to 145K. Property definitely needs some repair which I am guessing the costs from 5K to 10K. (I still have to look at the property in detail to get an estimate)
Truly appreciate your thoughts and Thank you all in advance.
Hi All
I am new to the site and real estate investment and a bit nervous about a Short Sale investment that I want to pursue and request any thoughts of how I to best handle this.
This property is a 0.16 acre, 1 story 1959 built with 3 bed rooms and 2 baths, 3 beds on main level, and storage space in the lower level and has Anderson windows and 2 detached 2 car garages, both insulated and one heated. It has 1450 sq. ft. It is close to major shopping, interstate and also corporate offices and in a good community and school district. Property is also on the bus line. Similar homes in the area sold for 130K to 140K. Property taxes are approx. USD 2400 annually. This is a Short Sale property and currently priced for 90K. As mentioned in Dean’s books the FMV is ranging 125K to 145K. Property definitely needs some repair which I am guessing the costs from 5K to 10K. (I still have to look at the property in detail to get an estimate)
Truly appreciate your thoughts and Thank you all in advance.