All Forum Posts by: Ross Mcghie

The story on this one, owner lease option property for 5yrs,but wants out. Wants the money to put down on a condo. Lease is up 8/21/20. Leasee won't be able to exercise option to buy, don't have the credit or income to qualify for a mortgage. Leasee pays $625 per month. This can easily rents for $700

Property was upgraded in 2015 with mental roof and flooring, buyer must honor lease option til the expired date of 8/21/20

Property Address............ 105 EL Dorado Dr, Perry FL 32347

Property Sale price.........$56,457

Bed/Baths....................3/1.5

Sqft...........................1197

Lease option Info:

Sale price at.............. $74,900

Lease option term.......08/21/15-08/21/20

Down Payment...........$4000

Monthly payment........$625....$125 goes towards down payment for purchase

Ross

786-802-0020

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Originally posted by @Bruce Lynn:

Warren Buffet has had a good strategy...invest in what you know.

One thing to consider is that you are dealing with someone who didn't pay their bills and take care of business in the first place. So how easy will it be to recover the judgement with someone like this? Do you have the legal skills to enforce the judgement? If not the legal skills, the persuasion skills to talk them into doing something they don't want to do.

Let's just say they have a Rolls worth $100k, and you got a judgement for $10,000 against them, but they have the keys and it is in their garage. You may have the right to take it, but you have to catch them out driving around, you probably can't snatch it legally from the garage. They know that. So you have to talk them into giving it to you. Maybe that costs you another $10,000 cash, so you don't steal it when they're out with their date at a night club with no way to get home. Maybe you trade them for a $50,000 Ferrari, so they're still riding in style and you're $40,000 ahead. Is that you? Are you a creative thinker and a persuasive talker?

One of my attorney's told me the same think. I wanted to buy a 25% undivided interest in a parking lot in major metropolitan area...25% family member is tired of dealing with the other 75% of the family so wants to sell. Great deal on paper. So attorney advises me....what do you know about buying undivided interests? What do you know about the family? If this guy can't deal with the family, how will they deal with you? and lays out about 10 more ways I might not be happy with this "deal". He's probably right....may be easier ways to make money...plenty of opportunities out there.

Great point Bruse, wondering if pursuing judgement only secure by real estate is a better option

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previous experience of bankruptcy judgement deal that you did.

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Bankruptcy Judgement lien on a San Diego, CA 92111 property in the amount of $352,524.31

Property value around 700k

highest bidder thus far $183k

Next bidder have to come in at $193k or higher

Deadline to place bid and deposit with trustee 12-10-19 at 5pm

Only bidders who submit bid with deposit can take part in the auction on Friday 13 2019

Deposit of $20k and a signed contract get you in.

Contact me for contract and details need to provide proof of funds, therefore serious inquiry only

4/2 1944 sqft

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Vacant Bank owned Gas Station with convenience store located downtown New Smyrna Beach, not too far from the Schools and movie theater. Heavy traffic area from US 1 and Dixie Freeway. Huge opportunity need around $80,000 in repairs to bring this back to par. Store sales while open was over $50,000 per month. There is a need for this type of business. Seller is very motivated will consider all offers

Call for showing are more details

Seller Asking $606,000

New Smyrna Beach,FL 32168

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This is two separate lot located in Sebring FL, off US Hwy 27

Lot#1......... 11.45 acre click here

Lot#2......... 8 acres click here

Close to Airport and Hospital

Possibility is endless

Call for details 786-802-0020

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Need help on evaluate this property: 15648 NE STATE RD 65 HOSFORD FL 32334

Got a call today from a seller looking to sell their 2000 mobile home double wide 3/2...1424sqft

on 8 acres of timberland in Hosford FL

Property Use Code TIMBERLAND

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A true 10% Cap 4Plex very hard to find

Located at:

1825 Harding st, Hollywood FL 33020

This one is off market specs as follow:

2/1, 1/1, and two studio

2/1 rents for.......... $1500

1/1 rents for.......... $1100

studio#1 rents for $1000

Studio#2 rents for $800

Additional Income

coin laundry for.... $83 per month

Owner Expense monthly:

FPL...........................$600

Water.......................$110

Insurance.................$500

Taxes........................$260

Total rent including coin laundry income............................$4483

Total owner expense..............................................................$1470

Net monthly Income...............................................................$3013

Net yearly Income...................................................................$36156

Total Investment.....................................................................$357000 (include closing cost)

Return on Investment............................................................10%

Call now to make appt to see inside

786-802-0020

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After repair value.......$195,000 (See comps below)

Repair............................$ 40,000

Cost................................$ 20,000 (this includes buying & selling, plus holding cost)

Asking price..................$105,000

Total Investment.........$165,000

Profit...............................$30,000

Return on investment..18%

Call Now 786-802-0020

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All Forum Posts by: Ross Mcghie

Ross Mcghie has started 58 posts and replied 78 times.

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Post: Rental Investor for Perry FL

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Post: Would you invest in Bankruptcy Judgement?

Post: Investors who buys Bankruptcy Judgement secure by real estate

Post: New Smyrna Beach, FL Gas Station And Convenience Store

New Smyrna Beach,FL 32168

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