Two More Properties
In addition to getting REO houses directly from banks, I have also been networking with other wholesalers and marketing their properties for them. I have two Oakland SFRs for great rentals at about 15% to 20% CAP rates! In the S.F. Bay Area? Wow.
7007 Orral St. Oakland, CA 94621
SFR: 2/1 828 Square Feet
$68,000!
After Repaired Value: $130,000
Rehab: $5,000 - $7,000
LTV - including rehab: 57%
Vacant, Rents: $1200 to $1300 a month
CAP Rate: ~20%
Zillow value: $267,000
Sold 12/08: $127,000
Assessed value: $400,000
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8630 Hillside Oakland, CA 94605
SFR: 2/1 828 Square Feet
$63,000!
After Repaired Value: $115,000
Rehab: $8,000 - $10,000
LTV - including rehab cost: 63%
Vacant, Rents: $1100 to $1200 a month
CAP Rate: ~ 19%
Zillow value: $190,000
Sold in 2007: $255,000
Assessed value: $331,000
www.MotivatedProperties.com
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