Foreclosures

[LJ123]

This is great

You have been added. I did not put a cap on this so if it gets overwhelming let me know and we will narrow the Field. Also, call if something catches your eye.;-)

This will give us the true scope of what is available. Thanks Bobby!

 

[Matt J]

I just moved here from Memphis and I sold foreclosed properties to out of state investors. I have some clients that are lookinf for some properties down here to buy rent and hold. Also, wanted to see if positive cash flow is available on homes other than vacation rentals.

LOL, the Real Estate joke thread is just under this one.

 

[sadie1]

I've run the #'s many times and even paying cash and after all exp's on many rentals the most return i could come up with net is maybe 4-5%. example is a one seagrove condo. lets say you can get one for 300k. the most rent you can extract is maybe 25-30k. the dues are around 7k a yr and then you electric and maintaince of 3-4k a year. so you're looking at 11k a year of exps min and probably more. that leaves you with a net of 15k or so. thats 5% return and thats paying cash. so if you finance even 1/2 of it you're looking at loses. since it could be many yrs till we see appreciation one must buy because they want to be here.

 

[Bobby J]

one must buy because they want to be here.

Seems to be the case.

 

[JoshMclean]

I've run the #'s many times and even paying cash and after all exp's on many rentals the most return i could come up with net is maybe 4-5%. example is a one seagrove condo. lets say you can get one for 300k. the most rent you can extract is maybe 25-30k. the dues are around 7k a yr and then you electric and maintaince of 3-4k a year. so you're looking at 11k a year of exps min and probably more. that leaves you with a net of 15k or so. thats 5% return and thats paying cash. so if you finance even 1/2 of it you're looking at loses. since it could be many yrs till we see appreciation one must buy because they want to be here.

Small condos are hard to cash flow, but there are a lot of properties that will. I'm seeing properties go for $800,000 that do $110,000/year in rentals and have low dues.

 

[Bobby J]

Bobby,

That sounds like a good plan. Would Monday at 11 be good for you. I can come to your office. Thanks, Todd

Great to meet you yesterday Todd. It is really helpful when people come in and we can look together at the market.
Good luck and call if I can ever assist.