This property offers a unique opportunity to own without ever having to go through and qualify with the banks. Whether you are a fix and flipper or simply a homeowner looking for a break to buy your first house, for the right person, this house has great potential.
As I said, it's a fixer. Doesn't currently qualify for FHA financing, so it's either cash, hard money or owner financing with only 15% of the sales price as a down payment. All credit welcome with the 15% down. Previous owners had several indoor pets, so the smell is there. Then everything else is probably the original 1976 material, so definitely needs some updating.
After the downpayment, there are no debt servicing or rent payments due until April. That alone will save you around $3,000 per month, or roughly $24,000 before the existing debt has to be paid off or refinanced.
I will be selling to the first person who has the $25,000 down and agrees to the rest of the terms. All of the pictures, numbers, value etc. is on a website. Send me a text and I will send you everything else that you could possibly need to decide if this property is right for you.