Denver Foreclosure Property - (PROFIT:$50,000 - $70,000)

[Austin Faux]

Hi,

Got another great Denver, Colorado property ready to go and I thought you might be interested in it. Just note that this is a very quick deal "turn around time" and very quick cash is needed....but there is a good profit margin to be had. --> Remaining $ / Profit Margin = $52,505.01 - $75,385.17

The address of the property is 4345 Genoa St. Denver, Co 80249.

I've been working with the Homeowner since October, and have all paperwork signed...with right of rescission ending back in mid-October for a "seller financed" deal. The brother to the Homeowner got a realtor involved a few days ago because he didn't know the Homeowner was already under contract.

I've talked to the Realtor and let them know the Homeowner already signed a contract w/Us that past the right of rescission back in mid-October and the realtor said she's backing out. The only reason it's taken this long to do something is the Homeowner isn't 100% mentally capable, and the Power of Attorney (Daughter) wanted to be present for signing the Landtrust....which we completed.

The property is in pretty good shape with very little that needs to be done. Just a lot of small things like to fix or replace. It's probably in "rent ready" condition if you just wanted to rent it instead of rehab & sell it.

The HO is a 75 year old woman and her 95 year old Dad lives with her. They are making arrangements to move to Texas to live with family. They currently have some family in town trying to help prepare them to move (Couple of Brothers). They would like 30 days to pack-up & move down to Texas.

Foreclosure Sale Date: 11/16/17

Here are the numbers:

1) ARV = $310,000

2) Repairs: $15,000

3) Total Upfront Money = $80,000-ish

- 2nd Mortgage would be paid off in full at this point. 2nd Mortgage wants to be paid off in full in order to drop foreclosure according to 2nd Mortgage Lawyer. Lawyer said "don't expect" reinstatement amount in time....but if you want payoff amount we can do it.

4) Estimated All Money into Deal (w/Judgement $22,880.16) = $257,494.99

5) Estimated All Money Into Deal (w/o Judgement $22,880.16) = $234,614.83

6) Remaining $ / Profit Margin = $52,505.01 - $75,385.17

More Details on the Numbers:

1st Mortgage:

1st Mortgage Balance: $119,805.83

1st Mortgage Missing Back Payments: $0

1st Mortgage Monthly Payment: $891.52/m

- 1st Mortgage is current and in good standing with no payments behind.

3rd Mortgage:

3rd Mortgage Balance: $15,800-ish (Still Waiting on Exact Numbers)

3rd Mortgage Missing Back Payments: (Still Waiting on Exact Numbers)

3rd Mortgage M. Payment = $169/m-ish (Still Waiting on Exact Numbers)

- We should have exact numbers on Monday for 3rd Mortgage

Other Liens/Judgements:

We are in the process of talking down Liens.

Martha Webb = $8,010.52 (Paid Off Already)

- Should have been removed when 1st mortgage was put in place, but it was never released.

Rainsoft = $5,000 (Paid Off Already)

- Should have been removed when 1st mortgage was put in place, but it was never released.

Wakefield & Associates = $3,300

- Willing to Make a Deal to Lower Price. If the property switches hand via Landtrust to you...then you can payoff at lower price anytime you want outside of total Upfront Money. If you want to pay upfront then Total Upfront Money increases

HOA = $709

- Can be paid up front if that's the case then Total Upfront Money increases, otherwise if can be paid off at later time you choose

Wells Fargo as Trustee for Lake Judgement = $22,880.16

- This a judgement against the house owned by a Trust. We don't know who owns the trust we contacted Wells Fargo national and they have no idea/record of this judgement on file. We researched the actual Wells Fargo physical location as listed on the Judgement itself, and that branch no longer exists. The location is currently an Enterprise Rent-A-Car. When you sell the property you can get title insurance to cover this judgement amount, or do a "quiet title" to get the amount removed all together. Even if it's left on the house there is still a good profit margin.

Let me know if you're interested and we can setup a walkthrough. Since this is so close I'm going to be actively looking for a buyer.

Thanks,

Austin/Amanda - (303) 532-5600