I think I have a good deal working here. It is a REO that has been on the market for about 120days. They are asking $375,000 for a property about 8,000sq/ft. with 2 dwellings, one is a 3bed 2bath 2148sq/ft and the other is a 402sq/ft cottage. I went over and took a look at it myself and it isn't in that bad of shape, long grass and a SUV over grown by the grass is out in the front yard. Comps are $480,000. I don't know anything else yet because I haven't spoken to the realtor yet. I was planning on buying it, fixing it up and renting the cottage and living in the other house. I have a preapproval letter for $325,000. I really need some angles to come at the realtor and lender to get it to this number. Any ideas? The location is awesome.half a block from a high school and elementary, and 10 minutes from the hospital and airport and very minimal traffic coming thru the area.. Any help would be greatly appreciated..
Lee Jon Sam Fong