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DeeLight

$500 cash flow monthly in So Cal

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I've been marketing a lot this past week. I got a call from an investor that has a property that he bought at a trustee sale. He likes to turn these over quickly. Here's the deets:

2&2 built in 1946 In San Bernardino;

1594 sf good rental with improvements

New Buyers price $132k

Comps $135; 2 with less sf within half mi

piti $650

fmr $1200

$100 per sf

tenant wants to stay but can't afford more than $1k per mo. The current agreement is he will vacate when the sellers pay him some moving $$.

This isn't my niche but it came to me so I thought I'd see what you all think.

I have a pure option on it and the option price is written into the sale price.

Please advise; I'm new at this. Thank you!

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newbie perspective here:

 

Not nearly enough value for assignment to another investor. rent is irrelevant since you said he wants to turn these over quickly.

 

If it's a really nice house, you might be able to find a buyer...but i don't think this is a good deal, or a deal at all.

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