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Updated over 10 years ago,

User Stats

17
Posts
0
Votes
Yee Yonfai
  • Real Estate Investor
  • singapore, Singapore
0
Votes |
17
Posts

Help need in analysing accepted bid from HUD

Yee Yonfai
  • Real Estate Investor
  • singapore, Singapore
Posted

Hey guys, i'll need a advise on whether or not to go ahead with this deal:

4bed/3baths, 5 Acre lot.

HUD Insured escrow & approves FHA finance. I assume condition of house is not that bad, i am not able to inspect the house personally.

I'm thinking of selling @ $70000

Tax Assessed value: $ 138,610

Similar Comps: $90-130k

This property is at a rural area & average days on market are much higher than 90 days.

http://www.zillow.com/homedetails/1307-Drake-Rd-Elberton-GA-30635/105245506_zpid/

My question is what price would it be to be attractive for non-conventional loan buyers?

I Plan to use back-back closing & sell it within 30 days, or go for hardmoney lending for fix & flip.

Should i proceed with this deal or drop it?

Please advice, Thank you

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