Wednesday, February 16, 2005

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.


Anonymous said...


I read your post "Step by step guide to buying preforeclosures".

How do you keep track of the preforeclosures? I tried to use
MS-Access, but not much luck.

What do you think about Excel?
Other solutions?

Shaun said...

I actually use MS Access, but then, I'm a database guy. My Access db is pretty tightly coupled to Arizona's foreclosure process, including links to look up data on the County Recorder's website. It also handled the printing of postcards for me. I'm considering making this available for sale, but I'm not sure I'll have the time to support it.

Anonymous said...


You would make a good return on the software if you created it.

After reading your post...I will buy a Access for Dummies, and take it step-by-step.

I just have newspapers, paper, ect
and that's definitely not working.

Steve said...

Hey Shaun. I use OpenOffice (I'm an open source geek). I have a couple of cashflow/property analysis spreadsheets, but haven't dealt much using DB tools like Access for keeping track of properties.

Happy investing!

© 2006 Shaun | Site Feed | Back to top