this fell in my lap really need advice
hello Fellow investors
Seattle here
i have been given a home ( i will sign purchase option) on sat. the seller wants nothing in return no money it is in the arrear 3500 and she paid 109k and it appraised +\- 123k it is in fair condition just need a good cleaning rugs wall yard the usual cosmetics it has a grading issue but the city has a fund for run off that the house will qualify for so here is the question.
what is the best way to acquire the home and what is the best way to get the profit out of it i would live in it but the rooms are too small for my taste so i want to get at 10k from it can anyone see the best method for doing this
thanks for all the know how
the #'s dont work in my opinion.
find another deal.
good luck
well i thank you for sharing that with me i see that i left out that it will cost 105k to settle all accounts
thanks again
"the city has a fund for run off "
what exactly does that mean, can you tell me about the program?
run off =storm water the way the neighborhood is developed it clearly shows the oversite of the development
mistermonopoly,
I think the numbers sound good from the little you have told us....but more info would be better i.e
what intrest rate are they paying
what is the appreciation rate in your area
are you sure the title is clear (did you check)
take it sub 2 sell cfd...
[addsig]