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..

2009-09-15 18:11:46

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.