All Forum Posts by: Marcus Spurlock

Looking to sell 5 SFR properties in Greenwood, MS. The properties have tenants in place. Start cash flowing from day 1.

Rents: $1400/month

ARV: $ 85,000

Price: $39,900

Deposit: $2,000

The properties are ideal for buy and rent. One of the units is a 2 family residence. I have the properties under contact and I am sell my interest in the properties. If you like inexpensive properties give me a call today.

Greenwood, MS 4 locations, Greenwood, MS 38935

5 SFR Properties. Selling as a package deal. Homes in the area have an average value of $30,000. Total appraisal value of all 5 properties is $85,000.

Financial Info

Income-Expense Ratio (2% Rule):
3.08%

Total Initial Equity:
$85,000.00

Gross Rent Multiplier:
2.32

Debt Coverage Ratio:
0.00

Analysis Over Time

0%/year
Expense Increase

0%/year
Income Increase

0%/year
Property Value Increase

Hey Effram give me a call. You have my number.

@Brett Goldsmith Hey Brett thanks for reaching out. I will contact you shortly.

@Account Closed I'm going off what the owner told me. He send me the bank information on the property. Don't if the numbers sound right of not, haven't tired to run them being that don't know what to do if they did sound right.

I recently had a home owner contact me about his house going into foreclosure. He is very upset about this and is looking for anyway to avoid this from happening. I feel really bad for him after talking to him and wish I could do something to help. Unfortunately I have never dealt with a foreclosure and don't know much about the process. He talked to me about possibly taking over payments or buying the property which is something that I am not in the position to do at the time. He is upside down with the property and having a outstanding balance of 187 K. His monthly payments are $1400 with a interest rate of 2.125%. It would take $8485 to bring the property current.  The house will be auctioned off on May 19. Is there anything that can be done for the owner at this point or is he out of options.Any advice would be appreciated. 

@Jesse Doyle Thanks! The site is under contruction until the end of the month, but I will definitely be joining. 

@Warren Helmer I'm doing pretty well in Mississippi. I have a deal in place right now for 5 SFH going as a package deal that will be closing pretty soon. Just got the title company is place today with a little calling around and digging here on BP. I also have a potential multi-family 6+ doors that I will have under contract in the next 3-4 days.

I live in Houston TX now but I invest in MS also. I am current looking for a good  real estate attorney or title company  in the Delta area that does double closing for a deal I have under contract. Do you all have any you can suggest? I have on near Memphis but looking for something closer to the Delta area.

None that I know of. The groups I'm apart of aren't meeting this weekend. Best of luck finding one.

@Dave Visaya Thanks for the welcome !