Lehigh Valley Real Estate - Tips 4 Homeowners, Buyers & Agents

Lehigh Valley Short Sales - Bank Negotiation Services for Real Estate Agents - KEEP Your Listing & Get Paid

EARN 50% COMMISSION - All you do is the Typical Listing Agent End & I will do the REST! CLICK HERE FOR THE DETAILS

Are you in one of the following Situations? I have some solutions for you.

1) Do you have a Short Sale Listing but really DO NOT have the time to do the weekly followup with the Bank or Banks that it takes to get a Short Sale approved?

2) Have you already taken a Short Sale Listing and it ended up going to Sheriff Sale and you never got paid...so now you just don't want the headace anymore?

3) Do you currently have a Short Sale Listing and You are not sure what you need to do to prepare the Short Sale package, why a Title company should be hired to help you, OR even if the homeowner qualifies for a short sale?

4) Do you have a Short Sale Listing and ALL YOU WANT TO DO IS LIST AND SELL THE HOME and NOT deal with any short sale paperwork or calling the bank weekly etc?

5) Is your Short Sale Listing ready to expire and you just could not get it sold BUT would like to STILL close this listing if you only could work with someone that knows what they are doing when it comes to Listing, Selling, and getting Bank Approvals within 30 days?

6) Do you stay as far away from Short Sale Listings as Possible? Let's work together...YOU SHOULD GET paid something on every lead you generate...they cost money don't they?

7) Are you currently working with an "investment company" and wonder if what they are doing is Legal or ethical? Are you working with this company where the only way they get paid is by the buyer or seller? Are they closing your deals in 90 days or less? Why not?

Do Any of these situations sound like YOU? Well, we can work together and both get paid :) Something. which is better then nothing!!!!!

Depending on what stage you are with your Short Sale Listing and what package of services you are looking for will depend on How much I will require as a Referral Fee for obtaining a Bank Approval for your Short Sale.

What will MY Short Sale Services Cost you? If you maintain your position as Listing Agent?

Least Amount = 1% of the Purchase Price
Greatest Amount = 50% of the Negotiated Commission Accepted by the Bank for the Listing Side.

EARN 30% COMMISSION - AS A REFERRAL FEE

Click Here to download The Agent Referral Agreement

You Also have an option of referring the entire Short Sale listing and Full Negotiations to us for a 30% referral FEE payable to you within 72 hours of settlement.  My partner and I will List, Market, and close on the short sale without any involvement by you.

MY Experience, Track Record, Resources...What can I do and What do I have in place to help???

AFTER becoming trained/certified to handle short sales - I opened a Full Service Lehigh Valley Short Sale Business in August 2009 where I work with a Real Estate Partner who handles the listing & Marketing and I handle all bank negotiations.

• Certified Distressed Property Expert Trained
• Short Sale & Foreclosure Resource Certified by NAR "SFR"
  
• The Short Sale Genius Trained & Ongoing Coaching Program Member
• Equator Short Sale Certified
• Trained by Wells Fargo Short Sale Department
  

MY Track Record - Closing 5 out of 6 Short Sales as of 5-30-10

• 6 Short Sales on the Books as of 5-30-10 since August 2009 with 90% coming from Online/personal Referral - No other Marketing currently being done.
• My first short sale closed at 83 Days on Market - I have been trained to do 90 days or better.
• My Bank Approvals are on Average 2 Weeks after the offer has been submitted but 30 days is the longest it has taken me.
• Settlements are within 60 days of the offer being executed - 30 days given for Bank Approval and 30 days for the Buyer to complete processing of the Agreement of Sale. - NOTE: FHA 203K takes 60 days from Bank Approval to close due to the loan requirements.
• 1 Short Sale Lost to Foreclosure - Due to the "investor" wanting to net over the BPO Current Market Value.

My Resources - Web Sites & Resources

1) Transaction Management, Ongoing Coaching/Training Programs - The Short Sale Genius
2) Consumer & Agent Education - www.LehighValleyShortSales.com & www.AvoidForeclosureScams.com
3) Weekly Followup - File Updates send an auto email to all parties of the Transaction and reporting is done via www.ForeclosuePrevention247.com

My Bank & Service Company Experience - As of 5-30-10
Chase - View Bank Approval Letter
Bank of America
GMAC - View Bank Approval Letter
Title 11 Funding - View Bank Approval Letter
Loan Resolution
ESSA Bank
HSBC Mortgage Services - View Bank Approval Letter
PNC Mortgage

My Short Sale Loans Experience
FHA & Conventional Loans
Fannie Mae & Freddie Mac Loans
1st & 2nd Liens

Lehigh Valley Real Estate FREE ONLINE WORKSHOPS for Home Buyers & Seller's - 4 Workshops and 4 Times Available to fit your schedule.  LIVE Chat for Questions and Answers during all Workshops

Complete Lehigh Valley Real  Estate Workshop Schedule Page For Home Buyers and Seller's

Online Workshop Schedule

What will you Learn?

• This workshop will compare the pros and cons of renting or buying a home.
• It will show you what to look for in a community and in a home.

• You will learn 10 questions to ask you home inspector that can save you thousands of dollars.
• Also you will be given insider tips on how to negotiate like Donald Trump.

• It will show you how to find out what the prices are in a particular area are, and the answer will shock you.

Workshop: What Are The 10 Steps To Sell Your House Fast In A Slow Market?

REGISTER HERE!

Other Helpful Links & Resources

Find US on Facebook - Our Home Buyer Education Page
Find US on Facebook - Our Current Homeowner - Foreclosure Prevention/Short Sale Page

FHA Renovation Loans - BEFORE & AFTER Photo's of 203K Streamline & Standard Programs - Get a Visual of what you can do WITH your next home or even with a Refinance of your current home.

Renovation Finance Opportunities BEFORE & AFTER

The Buyer's Concern: "I wish the outside was as appealing as the inside"  with The FHA 203K Standard Program...

 

The Buyer Concern: "A Red Roof? A retaining Wall that is falling down, we need nice landscaping package with a brick walk way and front Lamp post...what about new windows and siding? OH YEAH! and please close in the wannabe sunroom and give me an office! Again FHA 203K Standard Program you can include Landscaping updates also.

  

The Buyer Concern: "Bright Blue siding? No Air conditioning, we need new windows with the grids, let's tear down that old chain link fence and add a foyer enterence with coat closet, I would prefer Gray shutters not white, and OH YEAH! And that Tree needs to be tour out..It is too big and hides our new home!

  

The Buyer Concern: "Your Kidding!, Right? I have 5 daughters and this house only has 2 Bathrooms! With the 203K Streamline program..update Bathrooms and add that needed sit down vanity, ceramic flooring, and granite counter tops.

  

The Buyer Concern: "OH MY GOD! A Blue Kitchen, Look at those cabinets! They are just like my grandmothers! The kitchen is the most important part of my home, I need a double wall oven, much much more counter top space, there is no lighting in here either...I need recessed lighting and the appliances MUST BE Stainless Steal of course OH YEAH! The flooring will need to be ceramic please...YOU GOT IT! with FHA 203k Streamline program.


  

What ever you can imagine you can do with that outdated, lacking maintenance, handyman special, foreclosed or short sale property....ALL you need to find is a great location, wonderful community, the school district you want to live in, within the commute to work you want...AND as long as the home in it's AS IS condition PLUS the updates and repairs you want fit within your Pre-Approved Price range and the home will Appraise...YOU ARE GOOD TO GO!

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog

We have broken this process down to make it easy to understand and easy to get the basics.

What is FHA Renovation Financing & How Does it Work?

What Type of FHA Loans are Available for Renovation Financing?

What is the process for Getting an FHA Renovation Financing Loan?

Getting a Loan for Foreclosures, Handyman Specials & Short Sales - THERE IS A WAY

*
Lehigh Valley Foreclosures & Real Estate - FHA Renovation Loans - BEFORE & AFTER Photos of 203K Streamline & Standard Programs* Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh Valley Foreclosures & Real Estate - Do you want a GREAT DEAL? Are you interested in finding a home that needs work but wonder how you can get a loan on the property? Then Rehab loans are for you. Learn Here.

Times have changed....we are digging our self out of a Recession and the way MOST are buying homes has also changed.

CURRENT FACTS

1) MOST Home Buyers are going with an FHA Loan where you only need 3.5% Down as of Today 3-23-10.
2) The problem with the Standard FHA Loan is there is an FHA appraisal required that will not allow any major home repairs and this will make it impossible for home buyers to purchase the below properties. 

SO HOW CAN YOU BUY THE FOLLOWING TYPES OF PROPERTIES THEN?????

Our Current Lehigh Valley Real Estate Market is filled with the following types of homes.
Homes that Need "TLC"
"Handman Specials"
"Investor Specials"
"Foreclosed Properties - Enter at your own Risk" know as Bank Owned Homes
"Vacant & Occupied Short Sales"

The way to purchase homes like this IS the best KEPT secret in THE Lehigh Valley Area.

Now, this type of Financing is NOT something you can do on your own...you need the guidence of professional Mortgage Renovation specialists and a Real Estate Agent "Buyer Agent"  who also works with Home Buyer's interested in purchasing Distressed - Handyman Specials, Foreclosures and walking you through the entire process of purchasing a home and getting a rehab loan that fits your needs.

NOTE: NOT EVERY MORTGAGE COMPANY WORKS WITH THESE PROGRAMS
NOTE: NOT EVERY REAL ESTATE AGENT IS INTERESTED IN HELPING BUYER'S WITH THESE PROGRAMS.
NOTE: IT IS HARD TO FIND INFORMATION ON THESE PROGRAMS AS IT IS NOT QUICK AND EASY TO DO...BUT WORTH THE TIME AND EFFORT. That is why you only found my Blog on the topic.

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog

We have broken this process down to make it easy to understand and easy to get the basics.

What is FHA Renovation Financing & How Does it Work?

What Type of FHA Loans are Available for Renovation Financing?

What is the process for Getting an FHA Renovation Financing Loan?

* Lehigh Valley Foreclosures & Real Estate - Getting a Loan for Foreclosures, Handyman Specials & Short Sales-THERE IS A WAY* Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh Valley Foreclosures & Real Estate - What is the Process for getting an FHA 203K Renovation Loan? Find out the Basics for FHA 203K Streamline and FHA 203K Standard programs

When ever there is anything offered by the government it tends to be a bit confusing...so, I have dedicated my time to learn everything I can about this program plus develop relationships with the Renovation Mortgage Specialists in the Lehigh Valley so I can walk my Lehigh Valley Home Buyers through taking advantage of this opportunity available to them.

What a wonderful idea.  Build a Loan Program  that will assist in building up our communities by renovating homes that are in need of maintenance AND repair- Foreclosures can be devistating to any community - NOW you can get a loan to help the home buyer to do the repairs they need that will help them have the home of their dreams and bring back the market value of the community where they are located at the same time.   WOW! NOW THIS WAS A GREAT IDEA!!

THE PROCESS SUMMARY

FHA 203K Streamline Loan Summary

1. Borrower obtains pre-approval
2. Borrower selects property with qualified Buyer Agent
3. Borrower identifies work to be done - qualified Buyer Agent will assist in this process.
4. Buyer Agent confirms that the property will appraise based on the AFTER Improvements Value
5. Borrower makes offer on the property in AS IS condition & estimates work to be done if possible - If the scope of the work can not be estimated - Then the offer should be written with a condition of a contractor estimate equal to a certain cap amount.
6. Borrower goes under contract
7. Selected Contractor (s) validated (contractor required to complete standard validation package) Written Estimate is completed.
8. Borrow makes mortgage application.
9. Final underwriting review
10. Loan closes
11. Work begins within 30 days of closing
12. Draw center releases  money to contractos with up to 2 draws per specialized contractor (up to 30% available for materials in first draw)
13. All work completed within 120 days of closing (4 months)

FHA 233K Standard Loan Summary

1. Borrower obtains pre-approval
2. Borrower selects property with Qualified Buyer Agent
3. Borrower identifies work to be done or contracts Feasibility Study with HUD consultant for $250.00 (applicable to total fee if proceed with transaction)
4. Borrower goes under contract and makes mortgage application
5. Initial credit review and commitment by underwriting
6. Selected contractor (s) validated (contractors required to complete standard validation package)
7. Borrower obtains work write up ("WWU") for HUD consultant as well as written estimates from contractors for work to be done.
8. "Subject to" appraisal ordered once WWU and all estimates received.
9. Final underwriting review
10. Loan closes
11. Work begins within 30 days of closing
12. Draw center releases money to contractors per WWU schedule and after periodic inspections by HUD Consultant
13. All work completed within 180 days of closing (6 months)

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog


What Type of FHA Loans are Available for Renovation Financing?

What is Renovation Financing "Rehab Loans" How does it work & The Benefits



* Lehigh Valley Foreclosures & Real Estate - What is the Process for Getting an FHA 203K Renovation Loan?* Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh Valley Foreclosures & Real Estate - What type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline and Standard Loans - Learn about the Basic program opportunities

Renovation Financing opportunities for FHA 203K Streamline Program - The quick and Easy (close within 60 days)

• Owner Occupied ONLY! Sorry, No investor loans
• For Purchase and Refinancing 1 to 4 Unit homes (including mixed use)
• No minimum Repair amount - get as little as $1000.00 or as much as $30,000.00
• 15 or 30 year fixed rates
• Adjustable Rate Products available - Great benefits for Homeowners who are looking to move within 5 years
• Foreclosure Sales
• HUD Properties
• Bank Owned Properties & REOs (Real Estate Owned)
• Estate Sales
• TLC - Handyman Specials
• The Streamline K is a simplified verson of the full FHA 203K Standard
• NO Structural, site or landscaping repairs or improvements permitted.
• NO HUD consultant required - Just a Certified & Approved Contractor Estimate
• Work must be completed within 4 months for less
• Left over repair escrow must be used toward the principle of loan
• Credit Score 600 to 620 minimum
  

Renovation Financing opportunities for FHA 203K Standard Program - The Complete Package - Skies the Limit

• Everything as the Streamline Program BUT More Paperwork, but MANY MORE OPTIONS
• $5,000.00 minimum repair amount NO CAP - Property just needs to appraise at current market value
  
• Greater fliexibility on repair amount or type of improvements which can be made.
• Leftover repair escrow can be used for additional improvements
• HUD Consultant required - fee sliding scale based upon amount of work being done
• Work must be completed within 6 months or less.
• If the home is not able to be lived in after settlement the home buyer can finance 3 or 4 months of mortgage payments in the loan until move in.

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog

What is FHA Renovation Financing "Rehab Loans" How does it work & The Benefits

What is the process for Getting an FHA Renovation Financing Loan?

Getting a Loan for Foreclosures, Handyman Specials & Short Sales - THERE IS A WAY

* Lehigh Valley Foreclosures & Real Estate - What Type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline & Standard Loans * Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh Valley Foreclosures & Real Estate - What is Renovation Financing "Rehab Loans" & How Does it work? - What are the Benefits to the Lehigh Valley Home Buyer?

What is Renovation Financing?

• It is financing will all the fixings
• The money to purchase a home
• The money to repair, upgrade or remodel
• All in a single first mortgage transaction
• FHA Programs Available - FHA 203K Streamline, FHA 203K Standard

How Does Renovation Financing Work?

• Loan amounts are based upon AFTER IMPROVED property values
• Estimates of repairs and/or other improvements are determined prior to closing
• home purchase closes in AS IS condition
• Home Buyers make improvements AFTER closing (4 to 6 months)
• Renovation costs are spread throughout the mortgage term

What are the Benefits of Renovation Financing? for the Home Buyer "Borrower"

• Choose a great lot or neighborhood and create their dream home.
• Take advantage of market opportunities with "Handyman Specials"
• Stay within certain school districts, but gain modern amenities
• Make Energy Efficient Upgrades
• Build Instant Equity

WANT MORE?  Check out more Topics or Go to my Lehigh Valley Foreclosure Blog


What Type of FHA Loans are Available for Renovation Financing?

What is the process for Getting an FHA Renovation Financing Loan?

Getting a Loan for Foreclosures, Handyman Specials & Short Sales - THERE IS A WAY

* Lehigh Valley Foreclosures & Real Estate - What is FHA Renovation Financing "Rehab Loans", How Does it work & The Benefits?* Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Home Buyer Tax Credit - Deadline April 30th - $5000 can be used for Closing Costs & Down Payment Let me help you through it.

Let's Face it, The Home Buyer Tax Credit is GREAT! BUT, Most of us need it up front to help us with the closing costs at settlement.

Wouldn't it be great if YOU can get $5000.00 of the $8000.00 upfront to use for your closing costs at settlement? Well, If you make less then  $70,000.00 per year...you have a really good chance!

There are a few other requirements....but, the catch is MANY Mortgage Companies are NOT offering this program. 

THATS WHY YOU HAVE NOT HEARD ABOUT IT TILL NOW!

But, in the Lehigh Valley Area...you can get qualified for ALL the Down Payment and Closing Cost Assistance programs through 2 different local Direct Mortgage Companies...I will help guide you.

The point is you can get this $5000.00 to help you with closing costs AND you can also get $5000.00 in Seller's Assist to help with your closing costs from the seller!

ONE MORE CATCH - As of Last week there was only enough money left to help 450 more Home Buyers with the $5000.00 up front money for closing...Quick BEFORE the money runs out and April 30th is HERE!

There is still plenty of time to find your Dream Home.  What do you have to lose?

This is the worst thing that can happen.

1) You get pre- qualified FOR FREE through one of the ONLY 2 places in the Lehigh Valley that can offer you the Down payment and closing cost assist for the $8000.00 tax credit and YOU DO NOT QUALIFY.

2) You do qualify for the program AND between NOW and April 30th you do not find the home that fits your needs. STILL NOTHING LOST. At least you tried. So, You can still buy a home or you can just stay where you are.

3) You do qualify for the program, You find a Home and the seller picks the other offer.  Then it was not meant to be...BUT YOU STILL TRIED! So, we find another home! and try again.

BEST CASE. You Qualify, You Find a Home, The seller Accepts your offer and You GET 8000 TAX CREDIT - 5000 to help you purchase the home and 3000 within 12 to 24 weeks after you send in your amended Tax Return!

Don't Delay....contact me today and we will get started - IT COSTS YOU NOTHING FOR ME TO HELP YOU...The Seller's Agent shares their commission with me at settlement.

* Lehigh Valley Homes & Real Estate - $8000 Home Buyer Tax Credit - Deadline April 30th - $5000 can be used for Closing Costs & Down Payment * Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Lehigh  Valley Home Buyer Loans for TODAY not YESTERDAY. A NEW Loan to Buy  Foreclosures!  MAY 1ST 2010 Deadline - Use in addition to The Home Buyer Federal Tax Credit! NOW, THAT'S SO MAJOR INCENTIVE to purchase!

THIS LOAN IS OPEN TO OCCUPIED Home Buyers and Investors!  Holly COW - Investors normally needs to put down 20%, right!!!! come on people...this is GREAT!

WOW! There is a new Mortgage Loan in town.  He is only staying local for Home Purchases that close on or before May 1, 2010.  BUT, That's okay because to use the Tax Credit you need to be under agreement by April 30, 2010.  So, all agreements should be locked in with your Mortgage Lender by April 30th....Let's take a look at how much money YOU WILL BE SAVING!!!!!

I am soooooo excited!

If you get an FHA Loan - 3.5% Down - This is the most common loan because it has the least restrictions, you can purchase a home anywhere in the Lehigh Valley OR EVEN PA FOR THAT MATTER.

Now with FHA - These loans have special FHA Appraisals that cost you about $400 to 475.00 to get them and they will NOT allow you to buy a home that has chipping or pealing paint in a home that was built prior to 1978...It is the best program out there RIGHT NOW!  But, for a short Time...WE NOW HAVE A NEW GAME IN TOWN LADIES AND GENTALMAN! if you are at a price range of 200,000.00 and under there is a really good chance you will be purchasing a home built prior to 1978....if you live in the Lehigh Valley Area.

WITH the NEW Temporary Fannie Mae HomePath Mortgage Program - You can purchase a Fannie Mae owned FORECLOSURE, with 3% down which can save you bucks on the downpayment (100,000.00 loan for FHA $3500.00 down - Same loan with 3% down is only $3000.00) So, you say what the heck? MORIAH...$500.00 is NOT that much money? Yes, IT IS! With this $500.00 instead of using it for down payment it can be used for De-winterizing the property, Turning the Utilities on for the Home Inspecton and ordering the CO inspection. These are the major reasons why Home Buyer's can not afford to purchase a Foreclosed Home due to these extra out of pocket expenses.  PLUS...THAT'S NOT IT! Fannie Mae will also give YOU 3.5% toward your down payment and closing costs!  Holly COW! on a $100,000.00 purchase the bank will give you $3,500.00 toward your down payment and closing costs or this money can but used to purchase appliances for your new home...one of the items that are usually missing from a Foreclosed Property! yeah, the previous seller usually takes the appliances with them, wouldn't you?. Well, this can cost a New Home owner $3500.00 or more and HERE it is being paid for YOU! Awesome deal!!!!

So, now on a $100,000.00 property that is $4000.00 in cash that a Home Buyer can get on a Foreclosed Home....Let's Review, FHA Loan gives you NOTHING and MAKES you put down an extra 5% and you can not even purchase many foreclosures due to the chipping and pealing paint!

NOW, Let's see what local lenders are going to get on board with helping offer this program to home buyers.

So, Far I noticed on the following Mortgage Lender List of our Lehigh Valley Popular Direct Lenders so far...showing on the Fannie Mae Website is Met Life Home Loans - who are the other players?

Okay, so HERE are some links to help
Fannie Mae News Release Article 1-29-10
HomePath Financing Program Info

Don't Forgot...Learn BEFORE you Buy your next home!
www.LehighValleyRealEstate.TV

Lehigh Valley CASH Investors, PreApproved Short Sale - Bethlehem North Twin - Written Plan for 21% Return within 2 yrs - OFFER DEADLINE 2-15-10

This is FOR REAL - BUT LIMITED Time...there's a catch you must have your written offer in by 2-15-10 and go to settlement on or before 2-26-10. Other wise the bank will be taking this one through the Foreclosure process.

Okay, Yeah this is for REAL. Check it out.  I ran ALL Estimate cost, expenses and projected Net Profits for YOU.

DO YOU LIKE a 21% RETURN ON YOUR INVESTMENT within 2 yrs?  Does Cap Rate Confuse you?  It's okay..I don't even mention cap rate...just plan simple cash return on your total investment and this deal can get you a 21% return over 2 years if you follow my plan.  I wish I had the money to invest  because I would do it myself and that's the plan truth!

MY PLAN.
Okay, See at the BOTTOM of this Blog information about Current Market Value, CO Report, Roof Estimate...I have everything covered...if I don't let me know and I will cover that too.

THE DISCLOSURE: This is given in My professional Opinion  all investments should be confirmed on an individual bases and by your tax accountant or investment specialist – Moriah Martin, RE/MAX real estate. (To me the numbers are proof)

PRE-APPROVED SHORT SALE - 83,720.30 - Yeah the bank even wants the .30 cents too...LOL

Propery Location: 931 Fernwood Street Bethlehem, PA 18018 - Click Here for LV MLS Details

Basic Features: 3 Beds 1 Bath, 1400 sq feet, Covered Front Porch, Updated Kitchen, Updated Electrical and Heating system (not highend or brand new not org either) Partial Finished Basement and Attic but needs so work, fenced in back yard, off street parking.

At the Most the property can use $15,000.00 – Low End Repairs – Not Highend this is an investment property.

$7000.00 for a new Roof – We have estimate Actually – The Estimate came in at 5000 but you may need to replace Plywood
$8000.00 For painting, Carpet, and other small repairs

The more you do the more the property will be worth of course.

Investment Estimated PURCHASE NUMBERS

The Purchase
Price = $83,720.30 (preapproved by Bank)
Closing Costs as Shown on Est HUD = $4067.15
TOTAL CASH NEEDED TO CLOSE = $87,787.45

OPTIONS

1) Rent Property for minimum $850.00 – see proof below (depending on updates could get more) Worst Case 850

(950 is proven by current market value)

2) Rent to Own for first 2 years and then sell at $118,000.00 this is slam dunk sale right now – see proof below - I am already working with Interested Lease option to Buy Home Buyers...they are Flocking in...the loans are harder to get...but, with me they work with Local Credit Repair Companies...okay, yeah...the right way to depend on a future sale.

OKAY, SO, Annual Rental Income at 850.00 per month = 10,200

Estimated Costs For Rental on Annual Basis
Maintenance Calls - $1500.00 - It's a good idea to use a Home Warranty Company to help.
Property Taxes – 2473.00
Property Ins 1000.00

If you resell in 2 years at 118,000.00 (this is worst case and a slam dunk deal in this market, if you don't think so just work with me and I can make it happen for you)

118,000.00 Minus cost of Sale in Future - *$3800.00 - Org Investment = 102,800.00 = $11,400.00 Net YEEEEHAAAWWW

TOTAL NET OVER 2 YEARS = $21,854.00
or you can just continue to RENT year after year after year. Raising the rent $50.00 each year..etc.

*3800.00 Above is figured on using a Real Estate Agent (like me..lol) to assist in the sale in the future if needed a 2% plus other standard closing cost 1% Transfer and 110 deed prep and 35 notary fee. 

THE PROOF - CLICK ON THE LINK THAT INTERESTS YOU.
The FULL Property Detail from the LV MLS
The Proof with a CMA (which also includes these numbers above)
The Bethlehem CO Report (everything is revealed in this deal)
The Current Comps for this Investment within a .5 Mile radius with Photo's
The Roof Estimate

Are you IN?