DeeLight 8 Report post Posted August 1, 2012 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! Share this post Link to post Share on other sites
DanielSun 7 Report post Posted August 27, 2012 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. Share this post Link to post Share on other sites