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Old 01-03-2016, 03:04 PM
 
638 posts, read 596,270 times
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Is that thing actually up for $18k?? What sort of offer would be put in on that?
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Old 01-03-2016, 03:10 PM
 
Location: Sunrise
10,864 posts, read 17,020,813 times
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Quote:
Originally Posted by hotjambalaya View Post
Is that thing actually up for $18k?? What sort of offer would be put in on that?
Depends ENTIRELY on what the surrounding houses go for. For properties like this, you go with $/sqft and stick to your number.

I'd pick the absolute lowest comp, and offer less than half of that on a $/sqft basis. That's more work than I'm willing to take on. But there are people who rehab these for a living.
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Old 01-03-2016, 03:30 PM
EA
 
Location: Las Vegas
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I could rehab that in a couple months in my spare time. That is the type of property I have my eye on. I would never live there, I don't like the area, but as an investment.
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Old 01-03-2016, 03:34 PM
 
638 posts, read 596,270 times
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I'm just surprised it's $18k, granted I didn't look at the comps yet...

I'm assuming these would have been stripped of anything useful such as pipes or wires too.

Are new owners on the hook for outstanding property taxes etc also?
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Old 01-03-2016, 03:36 PM
 
Location: In a secret bunker under the Cannery
1,078 posts, read 1,155,812 times
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Yes the trick seems to be finding them.
Thats where I have to believe networking comes in
end runs on tile and miss mixed paints two huge $ savers!

Got rid of my tile saw when I moved but you never know

I love tile and the Mrs like hard wood ...

We plan to retire here so we want to make it our own ..maybe more some walls...maybe even ( gasp) combine some bedrooms...
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Old 01-03-2016, 07:26 PM
 
2,928 posts, read 3,561,603 times
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You can find short sales and bank owned properties at around $95-100 in decent neighborhoods still. You just have to be patient. They get snapped up quick and don't stay on market longer than a month. I wouldn't wait, as the amount of distressed inventory is sitting at about 10% right now and is quickly dropping as less and less people are under water. I'm not even sure we'll have a distressed inventory in 3 years unless another huge market crash happens again.
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Old 01-07-2016, 11:41 AM
 
31 posts, read 37,069 times
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22 Tenille isn't quite what it appears. This is a severely fire-damaged property AND a short-sale. The listed price will not equal what the bank will approve. However, if anyone was able to procure it for under $60k or so, it would be a decent deal. This assumes doesn't require a compete tear-down--it is hard to tell from the pictures.
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