For those of you looking to get your feet wet in the Bulk REO Business we have the perfect opportunity.
I came across this small 9 home package for $50K.
Mortgage.com values the properties at $510,000 or under 10 cents on the dollar!!
Now let’s say mortgage.com overvalues properties by 70% (which is extremely high, but what the heck).
That would value the portfolio at $153K which is still 32 cents on the dollar!!
Homes are located in the following states:
AZ(1) AR (1) MO (1) MI (3) LA (1) OH (1) KY (1)
Click HERE to email me if you’re interested.
This is a brand new acquisition. Properties have not been shopped- not floating around on the Internet
- We own these properties – You will be dealing directly with the OWNER and PRINCIPAL
- 131 Properties
- Some Warranty Deeds / Some Quitclaim deeds -We provide to you what the bank has provided to us.
- Some tax prorations -We provide to you what the bank has provided to us.
- Package may be broken up – make offer (See notes below).
- Buyer to perform due diligence
- Sold AS IS / WHERE IS
- States: (85)FL, (2)IA, (4)KS, (1)MA, (1)ME, (9)MO, (1)ND, (3)NE, (2)NY, 5(OH), (12)PA, (1)SD, 2(VA), (1)WV, (1)WY
- PURCHASE PRICE IS $3.15M
TO BUY:
- Email us your POFs to see the full list.
- Do your due diligence and be ready to buy.
- Enter contract for the entire list or cherry-pick and make an offer above the average price per house ($24,045.00)
Seller financing is also available, but you must include a POFs for the down payment and be ready to provide standard financial documentation. We can approve you in MINUTES!
These are NOT the typical low-end, trash properties everyone
else is selling that you’ll never be able to re-sell or rent out.
- Properties are located in stable, middle class neighborhoods
- Already rehabbed with tenants in place
- Tenants with 2-year lease with option to purchase
- Financing available
This is an unbelievable opportunity to do NOTHING and generate cash flow!
Here is an example of the last deal we closed:
| Purchase Price | $78,000.00 |
| Closing Costs: | $1500.00 |
| Total Cost: | $79,500.00 |
| Monthly Figures: | |
| Rental Income | $1095.00 |
| Taxes & Insurance | -$200.00 |
| Property MGMT Fee (8%) | -$88.00 |
| NET Cashflow | $807.00 |
| Annual Cashflow | $9,684.00 |
| Cap Rate | 12.2% |
- Current inventory is located in Memphis, TN.
- Investment is completely hands-off
- Property Management in place to deal with all tenant issues
Limited Supply Serious buyers only!
or
Call my partner Scott at 813-283-8096
Download the Cleveland 30 List (April 2009)
- 30 Homes
- All Quitclaim deeds / AS-IS
- No tax prorations
- Package may be broken up for $7500 a house
- Buyer to perform due diligence
- PURCHASE PRICE IS $225K
TO BUY:
- Download the Cleveland 30 List (April 2009)
- Do your due diligence and be ready to buy.
- Select the houses you want and email us your POFs and we’ll email you a contract.
Do you know who might want to buy this? Join our Affiliate Program to refer your buyer and make a referral fee!
Seller financing is also available, but you must include a POFs for the down payment and be ready to provide standard financial documentation. We can approve you in MINUTES!
DOWNLOAD THE FULL ADDRESSES BY
CLICKING HERE: Sunrise 168 Nationwide Mar09
- We own these properties – You will be dealing directly with the OWNER and PRINCIPAL
- 168 homes, mostly SFHs
- All Quitclaim deeds / AS-IS
- No tax prorations
- Package may be broken up – make realistic offer.
- Buyer to perform due diligence
- States: (2)AL, (1)AR, (5)AZ, (4)CA, (1)CO, (11)FL, (9)GA, (1)IA, (9)IL, (7)IN, (4)KY, (1)LA, (55)MI, (5)MN, (3)MO, (2)MS, (1)NC, (1)NV, 30(OH), (1)OK, (6)PA, (1)RI, (1)SC, (4)TN, (2)TX, (1)WI
- PURCHASE PRICE IS $2.1M
TO BUY:
- Download the full addresses: Sunrise 168 Nationwide Mar09
- Do your due diligence and be ready to buy.
- To buy the entire list simply email us your POFs and we’ll email you a contract (OR)
- Cherry-pick the houses you want and email us an offer above the average price per house ($12,500.00) as well as your POFs and we’ll send you a contract if your offer is accepted.
Do you know who might want to buy this? Join our Affiliate Program to refer your buyer and make a referral fee!
Seller financing is also available, but you must include a POFs for the down payment and be ready to provide standard financial documentation. We can approve you in MINUTES!
UPDATED 3/2 – AVM COMES IN AT $1,281,172.25!
That puts this package at 22% of AVM. With only 2 houses in MI and 7 in OH this is a great deal!
!!NOT A SINGLE DETROIT HOUSE IN THIS LIST!!
Review the AVM below and email us for a contract when you’re ready to buy.
Download the list complete with full addresses and AVM: Sunrise 35 Bulk 2-09 AVM
- We own these properties – You will be dealing dierctly with the OWNER and PRINCIPAL
- 34 homes, mostly SFHs
- All Quitclaim deeds / AS-IS
- No tax prorations
- Package may be broken up – make realistic offer.
- States: (3)AL, (1)AR, (2)GA, (2)IL, (2)IN, (1)KY, (2)MI, (1)MN, (1)MO, (7)OH, (1)SC, (1)TN, (5)TX, (4)WI, (1)WV
- Bank provided BPO is $684,500.00
- 3rd Party AVM is $1,281,172.25
- Purchase price is $280,645.00 (22% of AVM) NET
TO BUY:
- Do your due diligence and be ready to buy
- To buy the entire list simply email us your POFs and we’ll email you a contract (OR)
- Cherry-pick the houses you want and email us an offer above the average price per house ($8,254.00) as well as your POFs and we’ll send you a contract if your offer is accepted
Seller financing is also available, but you must include a POFs for the down payment and be ready to provide standard financial documentation. We can approve you in MINUTES!
Look at what some of these have sold for!
http://www.cyberhomes.com/homes-lithonia-ga-30038/4345idlewoodpark/20524455.aspx
http://www.trulia.com/homes/Wisconsin/West_Allis/sold/25710-1615-S-57th-St-West-Allis-WI-53214
http://www.zillow.com/homedetails/3836-W-Mckinley-St-Phoenix-AZ-85009/7505607_zpid/
http://www.cyberhomes.com/homes-lithonia-ga-30058/2685rockchapelrd/28369069.aspx
http://www.zillow.com/homedetails/205-NW-12th-Ave-South-Bay-FL-33493/46878583_zpid/
http://www.trulia.com/homes/Illinois/Chicago/sold/98310-6053-S-Washtenaw-Ave-Chicago-IL-60629
http://www.trulia.com/homes/California/Sacramento/sold/6229958-1557-Frienza-Ave-Sacramento-CA-95815
http://www.trulia.com/property/1066398253-115-Gallagher-Ave-Logan-OH-43138
http://www.cyberhomes.com/homes-linden-mi-48451/16175knobhilldr/3458355.aspx
http://www.zillow.com/homedetails/263-Pope-Rd-Tobyhanna-PA-18466/9797432_zpid/
http://www.zillow.com/homedetails/33803-Kerr-Rd-Pine-CO-80470/13841909_zpid/
Partner Opportunity
!!WILL PAY $10K TO FIND BUYER!!
Summary:
- 15 Unit Condo Package in Naples, FL, located within an Exclusive Golf Community @ $99,334 a door!!
- 9 – 3bdr/2bth units
- Market Value: $360,000.00 (HAVE APPRAISALS!!)
- PRICE SLASHED TO $99,334 A DOOR!
- Estimated monthly rental $1,500.00
- 6 – 2bdr/2bth units
- Market Value $320,000.00 (HAVE APPRAISALS!!)
- PRICE SLASHED TO $99,334 A DOOR!
- Estimated monthly rental: $1,200.00
- Rental Company on site can rent units within 30 days/excluding these units, development is currently at almost 100% occupancy!
- There are a total of 322 units in the development, excluding our 15, there are only 4 vacant units (which are not up for rental). The rental company states that he has a waiting list for the rentals when they become available! This a cash cow from the start!
Total Package Price is $1,490,000 FOR ALL 15 UNITS!!!
Email LOI and POFs to connect with seller mandate
!!UPDATED 2-11-09 – ONLY 23 HOUSES LEFT!!
- 47 SFHs
- All Quitclaim deeds / AS-IS
- No tax prorations
- States: (1)AZ, (5)CA, (6)FL, (5)GA, (6)IL, (5)IN, (1)MA, (1)MD, (6)MI, (1)MN, (1)NJ, (5)OH, (1)TX, (1)VA, (1)WI
- Bank provided BPO is $2,893,500
- Purchase price is $1,128,465.00 (39% of BPO) NET
I mentioned before that I am committed to providing information on transacting bulk REOs to make this a more fruitful business for all and to reduce all the rampant BS that is going on.
I promised my good friend Dan at MagicBullets.com that I would write 10 pages on the bulk REO business by Feb 1 and my time is running out!
I already have a good list of topics, but now I want to know…
WHAT WOULD YOU LIKE TO KNOW??
I get calls nearly everyday from people starting out in the business that have a ton of questions and I want yours too!
Give me your ideas by leaving a comment to this post.
Simply scroll down to the end and enter your information where is says, “Leave a Reply”.
If you don’t see that section, click on the title of this post first.
I look forward to hearing your ideas and I’ll be sure to post a copy of the ebook for you when it comes out!
To your success,
Abdul