No Go On House 6

I heard back from the agent this morning. Ocwen was will to do a short sale, but not by that much. They will accept $20,596.95 and the original loan amount was $22,000. The payoff on the first was $96,637, for a total of $117,233, plus title fees. There isn't enough room to flip, since this comps at $121,000. Actually, it was appraised at that last year, so now you could maybe get $123,000 for it.

This would be a good rental property though. It's a 2 bedroom, 1 bath built in 1983. 950 square feet. It's got a carport and a nice backyard with a patio. It needs paint and probably carpet. One bathroom vanity needs to be replaced (or just have the footboard repaired). Some junk in the backyard needs to be hauled away - an old barbeque and the contents of a metal shed. A new roof was installed in 2000. Nice neighborhood. A house a couple doors down rents for $850 a month. This property goes to auction on 2/25, so you need to move fast if interested. If you are interested, email me at 10thAvenueInvestments at cox dot net and I'll give you the details for a tiny finder's fee.