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REAL ESTATE Brain exercise....

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New Contributor
Jan 25, 2008
Is there a deal here or not???

OK, the property is a 1996 construction stucco home, 3br 2 ba approx 1600 sqft fair size lot with a pool and lots of privacy in a very nice area of Placer County,CA. asking price $190K BANK OWNED...

Homes in the area are around 230K-300K, just depending on the day the price as seems to change daily. :nonod:

Alright now the kicker' The home has an estimated 20K in mold damage, how would you proceed, and what would you use the property for? (Try to fix and sell,rental?)

Really get creative, see if you can't create money in a poor market. That's it :coffee:

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Gold Contributor
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
Washington DC
at first I'd say there is no deal here for flipping. Low ball it and see if the bank takes the offer. Make the offer so it meets the 1% rule (if rent is $1,000 a month then offer less than $100K, minus the $20K for the mold repairs).

It may have a higher value if there is a rent-to-own buyer aligned already.

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