megabucks41 0 Report post Posted January 16, 2005 Ok New Year, New Deal or something like out with the old and in with the new. Anyhow here it is TownHouse 3Bd/ 21/2 Ba. in Homestead owner called me wanted me to help with the L/P we had talked about 3 months ago. asking price $230,000 units being sold from the development are going for $220,000 which was what this owner paid for two other units that he sold already. He says he lost money on the closing so he was going to wait to lease or rent this one unit till it went up in value so he could sell it, and make his money back. So he call me to handle the lease/Option and yes this is a CA. asking $230,000appreciated at 18% last year= $41,400 but this could be different next year say 12% but I sticking with 18% for now till I run comps. total= $271,400option fee 3%= $8,142 total= $279,542rent asking $1,500 and owner will pay association fee and this is what he has to pay no profit, I am going to see if I could rent it for $1900 and give $400 rent credit I'll see as soon as I do my comps. Any ideas on how to write my bandit sign or anything else I've might have missed.MC. I will call you on Monday my voice has gotten stronger. I have another SfH in Homestead that this Seller wants me to handle for him cause he is losing money and he doesn't know what else to do has tried RE agents but that didn't work out so need to take a look at it tomorrow this is a 4Bd/ 21/2 Ba going for $310,000 and wants to rent for $1500 but will see what going on when I get there. till then thank you all and a have a great day. Share this post Link to post Share on other sites
Sold ! 0 Report post Posted January 17, 2005 asking $230,000appreciated at 18% last year= $41,400 but this could be different next year say 12% but I sticking with 18% for now till I run comps. total= $271,400option fee 3%= $8,142 total= $279,542rent asking $1,500 and owner will pay association fee and this is what he has to pay no profit, I am going to see if I could rent it for $1900 and give $400 rent credit I'll see as soon as I do my comps. <{POST_SNAPBACK}> OK, now, you're confusing me. WHY are you add ing $8142.00 to the already inflated (due to apprerciation) price of $271,400.00? That appreciated price becomes your spread, doesn't it? And, from that you take your 3% and offer rent credits. That's been my understanding. Somebody please correct me if I'm wrong and have been mis-reading everything up untikl this point. Thanks.... Share this post Link to post Share on other sites
California Rick 0 Report post Posted February 18, 2005 No, Rich, that's the way I understand it too. Calif Rick Share this post Link to post Share on other sites
<Steve> 82 Report post Posted February 18, 2005 Any ideas on how to write my bandit sign or anything else I've might have missed.Nice megabucks41 ! I use big red RENT TO OWN signs I get from Witness Design and use directional signs as needed. This gets the phone ringing for t/bs. Steve Share this post Link to post Share on other sites
