Flipping America Buyers Club members receive a substantial discount from the published price. Login to see it.
This is a 3 bedroom, 1 bath house with 1584 sf. The fair market rents average $932. I recommend seeking $2,000 down and $600/month for 10 years. If you hit those numbers your AAR is 41%.
ATTENTION: Reduced to $7,000 for Buyers Club members (we’ve heard the interior is not as good as these pictures depict), $13,000 for non-members. Why is the price so low? First, so you know, we think it’s a good buy. But you also need to know the property is being conveyed via Quitclaim deed. You will be responsible for code violations regarding the yard and will need to complete a foreclosure on a previous occupant who moved away without ever occupying the property. The Installment Land Contract was recorded and thus must be foreclosed on. We have been told it will take $1500 and six months or so to complete.
This does not interfere with your ability to market the house. The title can be cleared up while your buyer is paying.
When you check out, you will pay $3100 which covers the earnest money deposit of $3000 plus $100 merchant service fees. Completing the purchase will remove the property from the site and reserve it for you. Someone from our team will contact you with a digital purchase and sale agreement and discuss with you the final payment for the property. Unless you request otherwise, your purchase will be of the LLC which will hold title to this and only this property. This speeds transfer and lowers your closing costs. California residents are advised to consider alternate arrangements due to the cost of holding “foreign” LLCs.
If the property is still showing on this page and doesn’t have a “sold” banner on it, it is still available. There is no need to ask. Just buy it and it will be marked “sold.”