If it is the entire house you may want to factor in a larger than normal budget for flooring.

It dropped to $44k on a Friday and we faxed in our offer Monday morning, Monday afternoon it was taken off the market.

Commercial mortgage backed secutities are free falling!

Any one wanna comment on how they think this will affect the market?

:shake:

Also make sure to set the timeframe, so Cyberhomes can perform a cost factor of money adjustment over time.

I'm also dealing with less of an investor pool so I have to factor that in too.My area is still fairly stable so I would guess that in most other markets you will need to be drastically lower than my numbers to be moving property quickly.

Hi Mike,Unfortunately, I don't think this deal is looking good for you depending on a few factors.

You can't use the cap rate as the sole evaluation factor to make your buying decision if you are using financing.

Both houses have approx 50% ROI when rented out and paying cash (modest estimated, I've even factored in 5% vacancy and 5% rent collection loss) I check out a lot of foreclosures (I've seen about 50 this month from various sources), and I put out a lot of cash offers.

Of course your expenses have a huge factor on this as well.

closing time depends on a LOT of factors, judge signing papers, title company, owners, bank, etc.etc.etc.I've closed as fast as 14 days and as long as 3 months.