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Updated about 11 years ago on . Most recent reply

User Stats

36
Posts
2
Votes
Duncan Banks
  • Homeowner
  • Kingston, MA
2
Votes |
36
Posts

Lumping 3 into one possible

Duncan Banks
  • Homeowner
  • Kingston, MA
Posted

So there are three 2BR units in pre-foreclosure in an apartment complex all being handled by the condominium associations attorney. The three are estimated to be sold in the range from 54k-65k (with assessed values of 90k-99k) and two of the three claim to be newly renovated and painted. A friend rent’s her 2BR unit in the same complex for somewhere right around $1400 which includes heat and hot water. I am unaware of the condo fee’s but barring they are extremely high it seems these very well could be good cash flow properties if bought at the right price. My question is, if they all share a lender (two say that they do and the third is unlisted) would a bank consider making a deal if all three were rolled into one sale. It seems like a bargaining chip but I don’t know enough about this sort of thing. The charm of not worrying about exterior maintenance (lawn, roof, plowing, ect.) has its weight as well. What are your thoughts

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