Comments on: There is a lot of Competition for Bank Owned Duplexes….! http://theycallmemred.com/2009/07/28/their-is-a-lot-of-competition-for-bank-owned-duplexes/ They Call Me Mr. Ed - The Best Darned Real Estate Blog Period...! Wed, 01 Feb 2012 02:13:41 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Ed Favinger http://theycallmemred.com/2009/07/28/their-is-a-lot-of-competition-for-bank-owned-duplexes/comment-page-1/#comment-44 Ed Favinger Tue, 04 Aug 2009 23:51:52 +0000 /?p=476#comment-44 PJ... You are right.. even when I bring the price down to $200,000 and assume $900 rents on each side.. the profit is "skinny"... So for these places to sell.. in my opinion, someone is going to have to belly up to the plate and make an offer and beat them down to reality. A decent deal would be about $180,000 assuming there isn't much to do inside and you got a clean bill of health for pest control repairs and a roof certification. Make it a great day.... PJ…

You are right.. even when I bring the price down to $200,000 and assume $900 rents on each side.. the profit is “skinny”…

So for these places to sell.. in my opinion, someone is going to have to belly up to the plate and make an offer and beat them down to reality.

A decent deal would be about $180,000 assuming there isn’t much to do inside and you got a clean bill of health for pest control repairs and a roof certification.

Make it a great day….

]]> By: PJ http://theycallmemred.com/2009/07/28/their-is-a-lot-of-competition-for-bank-owned-duplexes/comment-page-1/#comment-43 PJ Tue, 04 Aug 2009 21:37:10 +0000 /?p=476#comment-43 Great blog--I enjoyed it! I'm relatively new to the area, and am trying to soak as much up as I can about RE in the area, but my personal experience owning rental property says that this deal is a little too slim. Again, I know nothing about the market, but I don't think I could justify the numbers on this one (at 2 units bringing in $900 each) for any more than about $180K-$190. And you say the current owner isn't bringing in the $900/unit? Great blog! Great blog–I enjoyed it!

I’m relatively new to the area, and am trying to soak as much up as I can about RE in the area, but my personal experience owning rental property says that this deal is a little too slim.

Again, I know nothing about the market, but I don’t think I could justify the numbers on this one (at 2 units bringing in $900 each) for any more than about $180K-$190. And you say the current owner isn’t bringing in the $900/unit?

Great blog!

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