Investor Alert! Here is an Indymac foreclosure that we just put on the market for 116K last night. We already have cash offers and I think it will take 120-125K to get the property. It has some nice updates-kitchen, roof, etc.. but has a small area of mold in the basement and the bathroom has to be remodeled. It is a great price though, and it would be cash flow positive if you got an investor loan on it. See how the #s break down below: Purchase price of 125K with 25% down = $31,250 down, $93,750 loan amount. $93,750 @ 5.75 interest rate, 30 year fixed = $547 monthly taxes = $120 Hazard insurance = $50 Total Monthly outlay = $717 Average monthly rent = $1300/mo Total positive cash flow = $583 a month. *I think it would take about 5-7K to get it to average condition and able to be rented for this. Could be less but I think this is pretty accurate. Click the following URL to see the listing: http://mrislistings.mris.com/Matrix/Public/Portal.aspx?ID=36530881318 Let me know if you need more info or would like to see it. Thanks and have a great day!
Rainer
13,179
13,179
Keller Williams Realty14155 Newbrook Drive #100Chantilly,VA20151
local_phone(703) 674-1777
smartphone(703) 400-6757
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