Hello,
Here's what I have:
31 homes, all 4/2/1s on slabs with brick veneer and siding exteriors.
Each house is 1,537 square feet.
All built in 1995, and have updated appliances and laminate flooring.
Prior owner was able to lower the taxed value. Each property is taxed on a
value of only
~$28,780, so taxes will be low.
I was told these properties were purchased from the developer in 2012. The
current owner's lender has called the note, and they are selling these remaining 31 properties
for the payoff. A foreclosure sale is scheduled on February 5th.
Most are leased for ~$900 per month. With a few vacancies, current monthly rents total $24,693. $21,690 in
security deposits are on hand. These homes can be kept together as a
community under a management company, or be resold to individual home
owners/investors.
The total sales price is $2,100,000., or $67,741.94 per door. This deal will require
$40,000 in earnest money. The only issue I see is the time to close. A title company is already lined up. They have everything they need, and can close
as soon as the end buyer says they're ready to go. They already have surveys on each
property. I have Seller's Disclosures on
each property. I am told zero rehab is
needed.
Who wants 'em?
Dwayne Modisette
817-925-2392
