San Antonio 4/3/2 - Won a HUD bid
So, full disclosure, I was only bidding on properties in San Antonio, because I was trying to dial in the HUD ratios and there are not enough Extended listings in DFW to prove my numbers. Apparently I've found a formula that works!
We just got notification of a winning bid. I don't have any desire to take this deal down myself in San Antonio and am willing to "partner" with someone locally who wants an easy "prehab". The property is Insured with no escrow, meaning HUD doesn't believe there are any repairs that need to be made. Here are the details...
310 Tres Caminos, San Antonio, TX 78245
- 4/3/2
- 2,584 sq ft
- ARV $162k
- I'd budget $2,000 for paint touch ups and carpet cleaning for a prehab. Properties are selling like crazy in that area. I believe listing it at $145k makes it jump off the market.
- Should rent at around $1400/mo, if you want to look at it for buy & hold
Contract is due to HUD Monday, 5/11 with $1000 EMD.
Make me an offer for the contract.
Offering