Upped my offer.

[Chris Sukala]

Well we put an offer in on our 3rd rental. Asking 52k but low balled it at 33k. Needs work has extensive water damage. Our course powers off and sump pump isn't running so the basement has about an inch of water in it. Quite humid in there so the mold is definitely visible. We went up to 38k which should be the 20% less then offer that Hud wants. We finished our second last year an was appraised at 74900 with no basement. This one has basement. The amount of work is the same. I believe I'll have to put about 30k into it. We are using a rehab loan from a local bank so no money other then down payment is coming out of my pocket. I would think it should valve conservatively around 80k, hoping 85k. Golf course across street and just started building a 3 story medical building. My main concern is the mold issue. Basement has it on drywall, which will be ripped out but starting to see spots upstairs. I am thinking the small spots should be able to scrub and spray kilz through the whole place. We should be able to rent it between 800-950 a month