Location: Rental Property in Forest Grove OR

Total owed: $227,000

- 1st Mortgage Owed: $162,00

- 2nd Mortgage Owed: $65,000

Owner had the property For Sale By Owner 240+ days at $210,000 before we got involved.

We started off the listing at $175k.  Our initial offer came from an investor partner of ours.  His offer came in at $122k, which would leave him with a) cash flow property or b) plenty of room to negotiate make a profit if he flipped the property.   While we were negotiating this offer, we had a new offer come in more in line with what the banks wanted.  The investor decided to back out, leaving the property to the new offer.
Continue Reading

{ 0 comments }