Distressed Sale Opportunity for Income Property

[twashing]

This is an excellent opportunity to get a property in Southern Ontario for a $180k buyout. The seller is very motivated.



This is a 15 year old single detached house which is currently generating $1'100.00 a month. Outstanding mortgage, liens and fees are $180k. It has been appraised at $170k and a local real estate agent has said the range of properties in that area can sell up to $250k. Other costs are as follows:

* $208.33 (taxes $2500 p.a.)
* $208.33 (utilities $2500 p.a.)
* $58.33 (insurance $700 p.a.)



* $625.01 (monthly net in perpetuity $1'100 - 474.99)

Please contact me if interested. I can be reached at the email address below.





Tim Washington

[email protected]

 

[Crispin]

Very nice information, and great post thanks for sharing. I read this and I feel that the information about `income property ` it`s really appreciable.Thanks for sharing with us `



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[invst4profit]

There is one small problem with this property. When debt repayment and all other costs of carrying the property are included this will create negative cash flow with rent at only $1100/month.

 

[twashing]

Right. These are good observations. Thanks for the insight. I am still a beginning investor. But I do have a line on distressed properties. And when I do get one in, it's good to review it with the members here.



Cheers

Tim