patience is a virtue...
to find that hidden gem, takes extreme patience.
as I am not actively seeking SFH anymore, but sometimes deal just fall in your lab.
just like this one, I pay 25k, 5 year contract, 6% interest, rent for $700 now.
| put in a bid for #94.., Part 3.. |  |
Part 3.
I closed this property yesterday, tenant moved in, rented for $675.
all the repair were done before closing, cost $1100.
In the past, we usually 100% full during summer month, and expect a lots of move ins / outs during the fall, but I have avg of 5 open this summer, and I will lost 4 or 5 more tenant next two month, so far, I only have 3 prospective tenant line up. Avg rent collected this year is 94.8% compare to 99.3% in 08 for first 9 month.
Part 2 here:
http://web.wenxuecity.com/BBSView.php?SubID=tzlc&MsgID=181321
offer of 25k accepted, contract sale, no money down, 6% interest, amortized over 5 years, no balloon, monthly payment $483 plus taxes and interests. the investor is happy I am taking it off his hand.
my crew will spend next 3 days painting and cleaning, possible tenant already line up, proposed rent is $675.
Part 1 here: http://web.wenxuecity.com/BBSView.php?SubID=tzlc&MsgID=181022
a small 3 bedroom home, 1 bath, 1200 sq ft, build in the 40s, new septic, new well, newer roof, easement to lake, needs new paint, new carpet, own by a investor, value $75k, tax $1200 a year.
1
Offered 25k, 1k down, contract sale, 5% interest, balloon in 5 years.
possible rent $575.
this will be my 94th unit.