 |
An investor interested in buying an auctioned property might not able to take a mortgage and as a result has to arrange his own funding in most cases. In this situation there are usually repairs that have to be made on the property before it is habitable. We have builders who normally give us an estimate of the repairs to be done on a property before we advise an investor to buy. This is done in order to make sure that it is a wise investment with a lot of potential value if the investor wants to sell the property immediately after repairs are made.
|
| |
|
In an outright purchase, an investor does not need to provide any documentation – the funds for purchase are usually the only thing required.
|
|
|
|
A typical property bought at an auction.
|
| |
 |
| Philadelphia |
|
A 2-bedroom semi Terraced home
|
| Price: |
$34,900 |
| Refurbishment: |
$11,700 |
|
Total cost:
|
$46,600 |
| Value upon completion |
$58,000 |
| |
|
| Rental income @ $600/month x 12 |
$7200 |
| Less Real Estate taxes |
$60x12 $ 717 |
| Insurance |
$40x12 $ 480 |
| Net annual income |
$6003 |
|
|
 |
|
| CONSTRUCTION |
|
We handle building constructions only in Miami. We have investors who want to have their own properties built to their taste from inception to the finish stage with their own ideas incorporated in the internal décor of the house.
|
|
We have our US based builders and construction workers who handle the building and to the taste of the investor.
|
|
