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Updated almost 8 years ago on . Most recent reply

User Stats

102
Posts
8
Votes
Dan Green
  • Real Estate Agent
  • Jacksonville, FL
8
Votes |
102
Posts

Possible Subject too deal in Jacksonville FL

Dan Green
  • Real Estate Agent
  • Jacksonville, FL
Posted

Are there any subject too investors here in Jacksonville that can help me out with a deal that i have?

Here are details summed up 

This is a family house. My Aunt and uncle died left my cousin a house. They took out a 190k line of credit before they died. The bank is treating it as a mortgage and not a HELOC. Payments are less than $550 until 2037 when the loan is paid off . The Ouse has an ARV of 265k all fixed up. The house is in great condition it just needs updating. It's a 4/2 2400+ sqft in the good part of Arlington. It is going through probate and will be done  next week. I need to know which direction to go with this because at 190k its not a flip but i know this can be a great subject too. I am in Jacksonville today as well

Most Popular Reply

User Stats

227
Posts
60
Votes
Zana Blue
  • Investor
  • Saint Augustine, FL
60
Votes |
227
Posts
Zana Blue
  • Investor
  • Saint Augustine, FL
Replied

Why not straight out sell it if the ARV is $265k and owe $190k and it only requires updating...there is room for a small profit...

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