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Updated over 12 years ago on . Most recent reply

User Stats

388
Posts
132
Votes
Melodee Lucido
  • Real Estate Investor
  • Oregon
132
Votes |
388
Posts

Can anything be done with this?

Melodee Lucido
  • Real Estate Investor
  • Oregon
Posted

I am still new so I don't always see if something is doable using crei. I found this beach condo with the following ad. Only one comp and it sold for $212---Looks like it is an investor comp tho because it was sold by a home auction & realty group.

He's asking $249 which I believe from knowing the area is prob real close to fmv. He's sending me pics today. I was marketing for l/o's when I found it---sounds like he needs more than that tho.

Please let me know how you would purchase/exit etc----if you would. I could get it under contract if he's truly motivated and then flip it.

Here is the ad:

2 + 1 1/2 nice condo 999 square feet, 1 year old carpet and tile, double pane windows, fireplace, grassy areas outside, not close to a bunch of others ....this complex only has 5 condos in it and the owners are the association. The association fee is less than $250 a month ....

Need help, need someone to purchase for $249,000 right away so I don't go into foreclosure...been on unemployment over a year and finally got to where I can't make the payment....Owned the condo for over 10 years and hate to let it go. Need to come up with around $35,000 at least to put it back online and rent out or perhaps bring a partner in to help get it back online.

Things are going back up and at one time this condo was up to $550,000, should have sold it then! Oh well, maybe there is someone out there wanting a small beach get-away vacation home! Really cute place - has a single car detached garage also.
Thanks for inquiring and will send pictures to those really interested.

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