Can I make this deal work? - Posted by adam

Posted by Adam on July 02, 2006 at 17:35:03:

Yeah, sorry, I just noticed that. The owners are a friend of the family and they have no balance left on their mortgage. I believe they will let it go for 65-70% below market. I’m not saying that for sure, but I want to see if it would be a good deal if they did. It needs a little cleanup but nothing major. If I got it under contract I’d like to assign it over to an investor but I’m unsure as to whether or not anyone would even bite.

Can I make this deal work? - Posted by adam

Posted by adam on July 02, 2006 at 14:40:26:

Hello. Well I’m looking for my first deal and I know of a potential deal. I wanted to see if anyone thinks this is worth pursuing. The house is in Brooklyn, Ohio which is a suburb of Cleveland. Here are the details on the house

3bd/1bath
5 rooms total
1564 sq ft
6486 lot size (0.15acre)
built in 1955
forced heat
central cooling
1st floor 1064sq ft
basement 500 sqft
2 car detached garage

i used zillow.com to look at the market value and it says $122,906

Here are some comps
124,900 3/8/06 3bd/1bath 1476sq ft
126,500 4/13/06 3bd/1bath 1174sq ft
125,000 6/7/06 3bd/1bath 1131sq ft

Re: Can I make this deal work? - Posted by ken

Posted by ken on July 02, 2006 at 17:00:44:

We need to know the price and what you want to do with it before we can help