Longmont Short Sale Opportunity - Potential of $399 Positive Cash Flow with 10% Down
Tuesday, November 11th, 2008
We have analyzed this deal to see how this particular single family home in Longmont would be as a rental property. Read the article Income, Depreciation, Equity Build Up, Appreciation and Leverage in Deal Analysis for an overview of how I do the deal analysis below.
Where is this property?
It is located in Longmont, CO. The property address is kept private to preserve the deals for our members. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about Deal #2681 and they can give you the full details about this property and help you in purchasing it. This particular property was submitted to the Boulder Real Estate Resources Website featuring real estate investor articles and local deals.
Run your own analysis on this particular property. Use our new, FREE Offer Generator real estate investor tool to change our assumptions and use your own.
How did we find this property?
We found this property from one of our real estate investor friendly agents/brokers or one of the real estate investor wholesalers we know in the Longmont area.
Learn to find motivated sellers using marketing in Drink From The Fire Hose of Motivated Sellers: Deal Finding. This CD is included as part of the 68 CD Ultimate Real Estate Investor Package that you get when you purchase any house we promote on the website through our recommended real estate agent or broker. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about real estate Deal #2681 and they can give you the full details about this property and help you in purchasing it.
The Story
Before we get into our full analysis, here is some of the interesting story for this particular deal:
From the agent: This is great a short sale. Property is listed and Seller is behind in payments but has a good rent to own tenant in the property who has fixed it up and wants to buy it in a year. Unfortunately, the seller’s first mortgage is $244k and he can’t keep the property. I am the listing agent and can negotiate the short sale if I have an offer. There is no second mortgage. Let’s see what the bank will take. I think $125k to $150k. The property cash flows nicely at that price and when the tenants exercise their option there will be a nice profit as well. No fix up since the tenant buyers do it all.
Read Posting Ads To Find Dream Team Members.
Property Details
- Bedrooms: 4
- Baths: 2.00
- Square Footage: 1,900 (see square footage estimates for info)
- All information is deemed reliable, but is pulled from tax records, real estate agent, zillow or the seller.
Income
- Gross Rent: $1,500/month (see Rent Estimates for more info)
- 5.00% Vacancy Adjustment: $75/month (see Vacancy Estimates for more info)
- Net Rent: $1,425/month
- NOTE: These numbers are for traditional rental income and NOT a rent-to-own. Rent-to-own analysis follows below.
Want to be notified of the newest deals? Click here find out how to get on our priority e-mail alert notification list for the cities you are interested in.