As more and more properties go into foreclosure inventory increasing and prices keep slashing away. Many lenders such as Bankatlantic, Indy Bank, Chase, countrywidereported a fourth consecutive quarterly loss as it struggles to cope with the rising defaults and housing troubles. This is no secret many lenders are reporting losses after losses buyers are now negotiating with Really motivated sellers that need to take these non performing assets from there books this is why this might be the best market ever to invest in Miami Real Estate . Take a close look at this property it can be the beginning or a great asset to your investment portfolio.
5% Deposit in form of Cashiers Check must be payable to banks closing agent.
Required addendums completely signed.
Prequalification Letter
If its cash Proof of funds
Note: Our formula suggest the value of this Miami Real Estateproperty its 125,000 the asking price is 99,900 and in my experience lenders have a 10- 15 percent margin that they like to negotiate to, Which means you can start to offer 85,900. This is why this is our Miami Real Estate Featured Propertyif you have any questions about financing or showing instructions please call us at or email us at mdelgado@globalmarketrealty.com
Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.
Miami Real Estate Featured Property
As more and more properties go into foreclosure inventory increasing and prices keep slashing away. Many lenders such as Bankatlantic, Indy Bank, Chase, countrywidereported a fourth consecutive quarterly loss as it struggles to cope with the rising defaults and housing troubles. This is no secret many lenders are reporting losses after losses buyers are now negotiating with Really motivated sellers that need to take these non performing assets from there books this is why this might be the best market ever to invest in Miami Real Estate . Take a close look at this property it can be the beginning or a great asset to your investment portfolio.
Property information.
676 NW 44 St Miami, Florida 33127
Asking Price: 99,900
LA: 1533
Yr built 1969
Type: Duplex
Unit 1: 2/1
Unit2: 2/1
Closed Comparables
Comparable 1
60 NW 42 st Miami Fl 33155
Asking Price: 190,000
Closed Sale: 131,500
LA :1482
Yr built 1958
Type: Duplex
Unit 1: 2/1
Unit2: 2/1
Comparable 2
285 NW 39 st Miami, FL 33127
Asking price: 274,900
Closed Sale: 195,000
LA: 2107
Type: Duplex
Unit 1: 3/2
Unit 2: 2/2
Market Rent
428 NW 97 st Miami, Fl 33150
Rented Price each Unit : 950
Bedroom s: 2
Bathrooms: 1
Investment Formula:
Rent * 12 (month) = Gross rent
Gross rent – Operating expenses ( Taxes & insurance Yearly) = NOI (Net operating Income)
NOI % capitalization rate = Property value.
950*2=1900 * 12(year) =22,800
22,800- 5510(last year taxes) (1900) insurance= 15,390 (NOI)
15,390/ 11% = 139,909.09- (14,000) repairs= 125,909.09 estimated value.
Requirements:
5% Deposit in form of Cashiers Check must be payable to banks closing agent.
Required addendums completely signed.
Prequalification Letter
If its cash Proof of funds
Note: Our formula suggest the value of this Miami Real Estateproperty its 125,000 the asking price is 99,900 and in my experience lenders have a 10- 15 percent margin that they like to negotiate to, Which means you can start to offer 85,900. This is why this is our Miami Real Estate Featured Propertyif you have any questions about financing or showing instructions please call us at or email us at mdelgado@globalmarketrealty.com
Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.
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