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http://www.rightmove.co.uk/property-for-sale/property-17702574.html

£127,000

100 HOUSES 127k ... INVESTERS DREAM [yes, this is their spelling]

* BULK PORTFOLIO PACKAGE

* IMMEDIATE INCOME

* MAJOR GROWTH VEHICLE

* A FABULOUS OFFER

Full description:

The deal is 100 houses in Michigan for $200,000 USD. approx £127,000 GBP subject to exchange rates.

This works out at just $2,000 per property, you are getting them this cheap because it is a bulk deal, the more properties you buy the cheaper it becomes per property.

The properties will need moderate tlc.

Rental income would vary from house to house and will depend on what condition they are in once fixed up.

They are all single family houses (detached houses) and the average house is a typical 1200 - 1500 sq ft 3 bedroom property.

When investors buy bulk deals like this they tend to keep maybe the best 10 or so and sell off the others individually or in smaller bulks for a premium to other investors or as land contracts / rent to own properties etc to people who want to live there themselves (end users). I will be happy to help sell them on to other investors and buyers once you have bought the package.

The average house has $1-2k of taxes due each year. All houses have no more than 2008 taxes due, the County does not take houses back until three years (2007 or later). You have roughly a year to market, fix up or resale the properties without paying the back taxes. This deal is ideal for someone who has the ability to fix up some of houses and resale them in a year, worse case paying only 2008 taxes before selling. You only have to fix up 10 homes out of the 100 and resale them for $30k each to make a significant profit, if you sell them tenanted you will be able to sell them for even more. Most of these homes had $80k or more mortgages on them previously.

This is a cash deal only, no mortgages, once you pay the $200,000 the quick claim deeds will be sent to you overnight. There will be no closing costs.

You can see most of the properties on Google Earth.

If you want to check taxes and title let me know and I will advise how.

This is the cheapest bulk deal we have had this year, it will sell very quickly

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If it looks too good to be true, then it probably is.

It is a dream - it is a nightmare. Still, I would probably be prepared to pay a couple of pounds for a webcam so we can see the initially smug smile from the proud investor, having snapped up such a good deal, turn into rage and anger.

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Quit claim deeds so there is no title or basis for proving title. The seller is very likely to neither own the properties nor the liabilities. You're buying nothing in the hope that you will find someone else willing to buy nothing from you at a later date. Or worst case, you do own the title but not the leasehold.

If it looks too good to be true, then it probably is.

It is a dream - it is a nightmare. Still, I would probably be prepared to pay a couple of pounds for a webcam so we can see the initially smug smile from the proud investor, having snapped up such a good deal, turn into rage and anger.

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"Here is an amazing opportunity to purchase a $200k yearly tax bill for the modest sum of $200k. We will also throw in some unsaleable run down houses."

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Why are they selling?

I keep reading 'articles' (well in newspapers at least) that tell me the michigan govt is paying landlord tens of thousands per property just to buy up and bulldoze the things.

Nothing adds up :lol:

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This is a cash deal only, no mortgages, once you pay the $200,000 the quick claim deeds will be sent to you overnight. There will be no closing costs.

It will be then that the tears start to roll

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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