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Archive for June, 2010

Under Contract

This deeply discounted REO has got a leaky roof that has caused lots of water damage on the inside.  Drywall has fallen from the ceiling.

Back taxes due: just under $1200 dollars.

Your price: $10,000.

Address: 400 Block of Buena Vista, Anderson SC.

Address: 11 Petty Court, Petersburg, VA, 23803

3 Bedrooms, 2 Baths, 1202 ft2 Rancher.  Possible 4th Bedroom in the addtion.

Current tenant paying $875 mo, on time every time since 2005.
Update: Tenant has left, house is vacant.

House has Central Heat / Air, recently painted

Price

Contract for Assignment at $68,000 or best offer.

Discounted

  • Discounted price as if it was a foreclosure. Hud Homes selling for similar prices.
  • Similar properties for first home time buyers selling in the 120s-130s

Visiting the Property

Do not visit the property without securing my permission.

Call Chris to schedule access, 804/915-9475.

Do your own diligence. All information deemed reliable, but not guaranteed

Contact Chris at 804/915-9475

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4 Bedrooms, 2-1/2 Baths,  1664 SF Dutch Colonial.

Needs 10 to 15K work, has ~ 30k in ground pool that needs about 2K work including liner.

Sales price: 82K.

Co-marketed with permission from Smart Home Builders.

Property Address:  585 Roberson Street, Petersburg VA, Berkeley Manor Subdivision

Real Estate Investors:

Small rehab job!  Should be under 15-17k for updating. Get it back on the market or ready to produce rental income quick.

Great Profit margin – including repairs, assuming arv of ARV of 150, an 82k price plus maximum repairs is 66% LTV

In last 12 months, in that subdivision.

  • 4bdr on Petty Street sold (10/23/09) at 139,950, 1220 Ft. full update / remodel.
  • 3br sold at $140, 1648 ft2. (11/25/09),
  • 3br, 1634ft2, at $152,000 on VA loan. (11/20/09 sold )

Add a premium for the 30k inground pool, suggests an ARV in the 150s – 160s.

These sold comps in the subdivision are similar ft2 and remodelled.

Access:

Do not disturb the tenant.

Call me for details on how to access the property.

804/915-9475.