Devon Street Project, July 25, 2016

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Devon Street Project

Project Objective: Acquire, fix then “owner finance” it to another home buyer

“Mid Century” Single Family Home built in 1958, located in a well-established blue collar neighborhood. Opportunity came from a good friend from a probate case. Took the time and delivered a full “Comparable Market Analysis” (CMA) and an estimated repair/ renovation budget necessary to perform prior to listing it with a conventional real estate agent.
What is the Opportunity Here?
Home Seller should sell the home to another home buyer as a “owner finance” transaction. This will give the seller the best return on their investment. However, there are outstanding liens on the property compelling the family to sell the property.
Therefore, selling the property to an investor “as is” is the most expedient option since the owners do not want to spend money on renovations.
Next: Make a full “cash offer” to buy it from the family in “as is” condition.

By |July 26th, 2016|Epiphany RE Today|Comments Off on Devon Street Project, July 25, 2016

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