Analyze this deal - Washington State - Pacific County
House is located at 6505 V Pl. Long Beach WA
Bank foreclosure, opening bid 163k, can only view from the street, currently occupied, 6 acres, ~2000 sq ft house, two large two bay shops, and has a large pond with a dock in the back yard.
No other tax, liens, or judgments other than it may have 4-6 months of water bills that will need to be paid by the new owner.
Assume you're me... I own property down the street and want to continue investing in this area. I have cash to purchase and would like to either add to my rental portfolio, sell owner financed, or flip/wholetale. Would this deal interest you? What max price point would you consider? What exit strategies would you drop/consider at various price points?
Most Popular Reply
@Ryan Hodges, it depends on the numbers and your long term goals. If you want quick cash, flip may be the way to go. If you want the tax benefit, appreciation, and building wealth, then run the numbers as a rental and see it is gonna generate a decent cash flow or not.
Let me know if you need help running the numbers for more than one scenario and I can help with that.
Best of luck, thanks!