Friday, December 28, 2012

Multiple Offer Update

Several of the 15 properties Justin and I are working on are under contract, one was an auction, and another required me to get pq'd with Nationstar. When the dust settled there were 8 props left. Last night I signed and dated all eight contracts. Justin will be submitting them today. Then we'll wait. Meanwhile, I found a property on Province drive in East Dallas. Asking price around 48k. ARV is around 75,000. The owner of the property is a life estate. I will hopefully be looking at the property Saturday depending on Lisa's schedule. The estate might be willing to negotiate, and the numbers look really good. Rent-$1,100; gross equity - $21,692; cash flow $457/mo; estimated rehab costs-$12,000; est. COOP-$1,123; mos to recover COOP-2.46. I'll let you know how it turns out.

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