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Updated over 5 years ago on . Most recent reply

User Stats

45
Posts
14
Votes
Gerald McCullough
  • Contractor
  • Jackson, MS
14
Votes |
45
Posts

Why Can't I find buyers for my package deal?

Gerald McCullough
  • Contractor
  • Jackson, MS
Posted

Hey BP family,

I'm here in Jackson, MS and I've acquired contracts on 6 properties for $250k which we are marketing package deal for only $234k and they are already rented producing $61,680 yearly which at my calculation is 3.79 CCR. Most of the properties have been renovated and properly taking care of by the owner. If you had the opportunity to bite at something like this what do you think will be making this go sour?

Most Popular Reply

User Stats

1,142
Posts
762
Votes
Susan Maneck
  • Investor
  • Jackson, MS
762
Votes |
1,142
Posts
Susan Maneck
  • Investor
  • Jackson, MS
Replied

If you bought then before the recession they are probably underwater right now. I bought a house as my principle residence back 2003. It is two-stories, 1900 square ft. I paid 73K for it from HUD. Zillow says it is worth 69K now. I could either cry about it being underwater or buy up the neighborhood. I now own five houses on that street alone. The house is rented for $950 a month now, so I can't complain.

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