Great LOW COST flip opportunity OR buy and hold. Corner lot, 4 bedroom, 1.75 bath, 1284 sq ft, 6600 sq foot lot, newer cabinets, block home. Flip estimated 26% ROI, Buy and hold estimated 12% CAP.
Flip Need set: Floors, counters, paint interior and exterior
Buy and Hold Need set: Interior paint, clean
Flip Option
Wholesale Price: $85,000
Estimated Rehab: $7500
Estimated ARV: $115,000
Buy and Hold Option
Wholesale Price: $85,000
Estimated Rehab: $2500
Estimated CAP: 12%
Close of escrow on or before 7/28/2016. First signed contract and $2500 non-refundable deposit to title wins. Buyer pays all closing costs. Escrow is opened at First Arizona Title - Kim Stembridge is EO (623)385-1004.
See below for fun disclaimers, ESTIMATED budget, pics, and comps and link to comps:
Fun Disclaimers:
All Prices based on cash sale with $2500 non-refundable deposit to secure property.
IMPORTANT INFORMATION
- All properties offered are either owned or are under contract and selling equitable interest or offered in conjunction with business associate.
- One of managing members is a licensed Real Estate Agent in the state of Arizona.
- If estimated values are provided, they are based on interpretation of MLS and Tax Data.
- Hard Money Available on most transactions at range of 14-18% with 20-30% down and transaction fee.
- Price is net to seller and Buyer pays all closing cost
- Buyer agrees to double close of escrow
Investors/buyers
are encouraged to conduct their own due diligence. The members of the
selling entity are not tax or financial advisers. You should consult
with a certified financial and/or tax adviser on any investment you are
considering. Buyer pays all closing costs.
Pics:
Comps:
Top comp is this property. Don't let the days on market scare you. Look at Pending and Closed.
Here is link to view comp properties:
http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=17xmanjtua59&s=12&cid=1
Estimated Budget:
Purchase Price | 85000 | ||||||
Front side | |||||||
Hard Mony loan | 68000 | ||||||
Hard money down payment | 17000 | ||||||
Interest hard money | |||||||
- 18% 6month term - 4 months | 1020 | 4080 | |||||
Closing costs | 1500 | ||||||
Remodel | 7500 | ||||||
Insurance | 700 | ||||||
APS/Water | 700 | ||||||
Total cash invest | 31480 | 31480 | |||||
Total Frontside costs | 99480 | ||||||
Backside | |||||||
Estimated renovated sales price | 115000 | ||||||
Realestate commission | 0.05 | 5750 | |||||
title fees | 1500 | ||||||
total fees | 7250 | 7250 | |||||
total frontside costs | 99480 | ||||||
Total Earnings | 8270 | ||||||
ROI | 0.262706 |
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