All Forum Posts by: Rae Remer

I have an property under contract in Atlanta Area.  Whats the best free and paid ways to reach buyers with unlimited income in todays market? 

My Deal

Asking Price: $ 32,000
Estimated Repairs: $20,000
ARV: $67,000

For more picture or to view vacant call to get the lockbox code.
RAE show contact info
Offers will be accept today only.
 KEY FEATURES
This Property needs complete rehab. The good thing is the roof is new. Expected rehab expense ~20k. Will need A/C, water heater, toilet, faucets, furnace, wiring and plumbing. Market rents is $800-950 a month. In the Atlanta Belt-line. This 2/1 can easily be converted to 4/2. Full basement can easily be converted to Master Suite with extra bath. Open original hardwood floors throughout. Living, Eat in Kitchen and an off Dining Room that has been converted into a 3rd bedroom with closet and window. Great Investor Special for Hold/Rental. Handy Man Dream.

Asking Price: $ 32,000

Estimated Repairs: $20,000

ARV: $67,000

For more picture or to view vacant call to get the lock box code.

                                                    RAE 678-559-4222

Offers will be accept today only.

This Property needs complete rehab. The good thing is the roof is new. Expected rehab expense ~20k. Will need A/C, water heater, toilet, faucets, furnace, wiring and plumbing. Market rents is $800-950 a month. In the Atlanta Belt-line. This 2/1 can easily be converted to 4/2. Full basement can easily be converted to Master Suite with extra bath. Open original hardwood floors throughout. Living, Eat in Kitchen and an off Dining Room that has been converted into a 3rd bedroom with closet and window. Great Investor Special for Hold/Rental. Handy Man Dream.

KEY FEATURES

Year Built: 1967

Sq Footage: 975 sqft.

Total Sg Ft: 1950 sqft

Bedrooms: 2 Beds

Bathrooms: 1 Baths

Floors: 1 level , Full Basement

Parking: 2 Carport

Lot Size: 0.44 Acres

Property Type: Ranch Single

Property Taxes: $716

Neighborhood: Wisteria Garden

Minutes from: Cascade Prime Market, Morehouse, and Clark University

Asking $62K
repairs $5k if you want already rented
ARV $134K
3 bed/ 2 bathroom
1326 Sq ft

Beautiful 3 bedroom 2 full bathroom, in an prime location of Atlanta, the counter tops in the kitchen will need to be resurfaced, the carpet needs to be cleaned, there's beautiful original hardwood flooring and tile throughout the home which needs no adjustments. The roof was repaired 6 month ago, per owner with proof of receipts. The repairs needed for make ready is very minor. The current tenant's lease ends April 30, 2016, Tenant willing to stay with new buyer for $800 a month and 2 year lease. Owner is selling due to relocation and agrees tenant pays on time for 2 years. Tenants has an agreement with owner to leave before closing if buyer requests, no funds of this comes out of the buyers pockets.

Quick FYI, Current lease agreement that tenants agreed with previous owner will not transfer. Please use your own discretion.

The location is within the Atlanta belt line, mean tax credit deduction if qualified.


Call to view with Rae 678-559-4222 or offer is accepted

Asking $62K
repairs $5k if you want already rented
ARV $134K
3 bed/ 2 bathroom
1326 Sq ft

Beautiful 3 bedroom 2 full bathroom, in an prime location of Atlanta, the counter tops in the kitchen will need to be resurfaced, the carpet needs to be cleaned, there's beautiful original hardwood flooring and tile throughout the home which needs no adjustments. The roof was repaired 6 month ago, per owner with proof of receipts. The repairs needed for make ready is very minor. The current tenant's lease ends April 30, 2016, Tenant willing to stay with new buyer for $800 a month and 2 year lease. Owner is selling due to relocation and agrees tenant pays on time for 2 years. Tenants has an agreement with owner to leave before closing if buyer requests, no funds of this comes out of the buyers pockets.

Quick FYI, Current lease agreement that tenants agreed with previous owner will not transfer. Please use your own discretion.

Key Points to Remember
You will already have an renter in place should you elect to continue. The current market rent is 800 to 900 in this area.
The house asking price or your best offer is going to be 70 percent below the ARV, leaving you with an profitable rental, or retail property to resale.
The current appliances are beautiful and up to date. And they are an great marketing tool for resale.
The house have all original flooring and windows.
The location is within the Atlanta belt line, mean tax credit deduction if qualified.


Call to view with Rae 678-559-4222 or offer is accepted

And Thanks I know your right I just wish I could make a way other then letting it go

how do I go about getting the actual values of the house. Is there I way I can make money off of short selling the house or is that when she sells it back to the bank for an smaller amount owed.

I want to be sure about the repair cost, my main concern is the values being 42K and the loan being 60K would this deal be a go. If the estimate on repairs is 2K. I purchase the home at 40K from the owner and leave the other 22K in her responsibility. She's like family so I want to help the best way or is selling the property the best thing to do

Ok, House is Worth 42,900. on zilliow the owner has a loan of $60, 400 left to pay the mortgage company. She is willing to subject to the house to me. But Heres the List of Problems

No A/c or Heat the unit is out

Water gets in the basement when it rains,

Model is in the Ceiling in 1 of the bathrooms,

The Backyard has a Pool that doesn't work at all

Heres Whats good,

Wood Floors in the living room

New Floor in the kitchen

It has a Pool in the Ground

the basement has a garage it seems like

and the back deck will have to be replace I estimate the work will cost about 10 k at the most

The property is in a bad neighborhood where value drops constantly

But I want to take over the house and rent it out for her should I take the deal or not

Welcome New Member ..

Sure thing ...I so new I don't even know how to mention you lol @chantelcorbett can you help !!