This one is vacant and needs about $1300 in repairs, including replacing the stolen water tank, but I only paid 5k for it on a land contract with only 1k down, 3% interest on balance, and my guy says it will be ready and rented in about a week.I don't tell you all this to scare you but rather to stress that, in my opinion, having a quality manager is key to having success in an out of state situation.

The application of the Option Money will be more fully defined in the Option to Purchase Agreement. party assignee, with the balance."

I just purchased a water lien at a tax sale.4 months later, I confirmed water bills are STILL unpaid by the homeowner, and I have confirmed the $$ amount owned, but I have tried unsuccessfully to pay this water lien AND ADD it to my current Tax Certificate (recorded from the county).Whenever I speak to the Tax Collector, she says yes I can pay it, but when I tell her I want to pay it ONLY to add the balance to my outstanding Tax Certificate balance owed so I can collect 18% on the new amount paid, she looks at me like I have two heads.My assumption was it was possible to add new outstanding liens to my previous Tax Sale purchase.

I have been presented with 2 properties with 576 units, with the price To Be Determined by Market; Cash to Assumption of Existing Debt , the properties consist of;Total annual income of both properties; 4,088,316.00Total annual expenses of both properties; 2,344,761.00Total NOI for both properties; 1,743,555.00The vacancy is about 3% for both.One has an unpaid balance of 8,7205,06.00 with 4.13% interest rate and a monthly payment of 43,645.00the other has a balance of 7,229,981.00 with a 3.87% interest rate and a monthly payment of 35,011.00Is this a good deal or should I pass on it?

Hi Andrey,I think you meant that the loan balance is $50,000?

Even if the new buyer of the sfr rehabs it may be that he can do it economically enough to hold the property until the commercial use is beneficial.If you are looking for residential use I'd be cautious as to the impact any change in the properties you do not control can have on your property.

I picked up a primary residence for myself on a 10 year lease with option to buy at the current mortgage balance at time of exercise..now that's a GREAT deal!

Need to find that right balance based on the pool of applicants I receive.

Also there were a couple others I found that would do the lower balance loans.

Economics 101 applies to pricing of hard money............always a function of supply of money and demand for money in a market.