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 | Pros and Cons of Purchasing a Foreclosure Auction Property | | | There are many properties being offered at foreclosure auctions across the nation right now. Some are good investments and others are not.
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Property Details |
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| Property Information |
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| Project Name : |
Plainfield Wholesale |
| Property Type : |
Single Family |
| City : |
Members Only |
| State : |
Illinois |
| Zip Code : |
Members Only |
| County : |
Members Only |
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| Square Footage (GLA/ GBA) : |
1000 |
| Lot Size : |
Members Only |
| Lot Attributes : |
Members Only |
| Measurement : |
Sq. Ft. |
| Number Of Units : |
0 |
| Zoning Code : |
Members Only |
| Over All Property Condition : |
Light Fixer |
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| Property Description: |
This is a 3/1.5 1000sq foot single family home on 1.25acres we are looking to wholesale. ARV is $225k.
Here is a list of the repairs for the property and we are asking $125k for the property.
List of needed repairs: House needs $30k in repairs. Including:
-Siding or painting exterior of the house and garage
-Update kitchen
-Update bathroom
-Paint interior/drywall work
-Gutters are needed
-Hook up the half bathroom
-Upgrade electrical panel.
The furnace was installed in 2006. Newer windows. Roof is approx. 7 years old. There is no a/c.
There is at least a 5" drop in the dining room floor area. (see pictures)
The house needs new carpet in all three bedrooms.
The hardwood appeared to be acceptable in family room.
The house is propane heated.
There is a minor settling/foundation issue by the master bedroom, which is easily accessible from the exterior of home.
We need to close on January 14, 2008. |
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| Purchase & Invesment Information |
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| Purchase Price : |
$125,000 |
| Investment Type : |
Wholesale Property |
| Investment Amount Needed: |
$0.00 |
| Equity offered to Equity Partner : |
0.00 |
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| Estimated Cash on Cash Return for Investor : |
Members Only |
| Contingency Expiration Date : |
Members Only |
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| Process Complete to Date: |
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 Members Only |
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| Why is the Property being Sold?: |
| Members Only |
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| Personal Invesment Details |
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| Will Seller Carry a Note : |
No |
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| Familiarity with Property : |
Very Familiar |
| Familiarity with Neighborhood : |
Very Familiar |
| Time Inveting in Realestate : |
1 - 3 Years |
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Market rent / Vacncy Information(0) |
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Floor Plan / Site Plan (0) |
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