Found a house for sale, is it worth it - Posted by Roger
Posted by Roger on October 26, 1998 at 17:49:55:
Price: $42,500.00 Best Offer Beds: 3 Baths: 1.00
Category: Single Family Home Classification: Resale Homes by Owner
Sq. Footage: 950.00 Age: 31 to 40 years
Just using this as a example (but will lease it if a good deal)
I have found this house using the yahoo classified ad. This guy who is selling this house lives out of state and is willing to lease option.
Now suppose I look at this house and finds it needs some repairs and yard work. Suppose I get the house appriased it and it is $45,000. ( which article tells how to get it appriased?) If I can get it down to $39,000 for me to buy it and $345 a month on lease(Is that reasonable?) turn around sell it for $47,000 (5% over the appraised value) and $450 a month on lease.
Now that I assume it is worth it, but my thinking on it sound improbable. Am I missing something or I am not thinking right on how this lease works? More Importantly should I look into it for real and see if I can profit from it? I only been studying