In all my years I’ve never done this before but this one seems too good not to try to share with the Piggs. I’ll add that I have offered it out to a client already who I havent heard back from but who will get first crack at it.
I just got a message from the guy who negotiates all my short sales. He has an approved short sale on 1BR/1BA in Clairemont and needs a cash buyer who can close this month. The last 2 comps from February are 89K and 90K. This one is only 80K. My guess on rent would be an easy $1000 and probably more like $1200. HOA fees are $300/month. Even at only $1,000 its returning about 10% cash on cash.
In 2005 it sold for $276K. Thats 70% off. I’d buy it if I had 80K lying around right now. If anyone is interested shoot me a private message. If you arent VERY serious dont bother. I need someone ready to go who understand the value and wont get weak kneed.
