Renovating a Foreclosed Property versus Buying Prime Real-estate Team #5.
Published byModified over 6 years ago
Presentation on theme: "Renovating a Foreclosed Property versus Buying Prime Real-estate Team #5."— Presentation transcript:
Renovating a Foreclosed Property versus Buying Prime Real-estate Team #5
Team Members Vincent Rodriguez – Team Leader Jonathan Lee – Organizer Jimmy Luong – Enforcer / Summarizer Bryan Vine – Tech.
Objective To determine which method would result in the most profit. Monthly income Sold at 3 years Sold at 5 years Sold at 30 years Future Value.
Scenario # 1 Foreclosed Property Financed w/ accelerated 15 year fixed rate Second loan to pay for initial repairs Fixer-upper Maximize value through minimal improvements Rent out each room individually
Scenario #2 Prime Real Estate Financed w/ typical 30 year fixed rate Rented out to a family
Similarities 4 Bedrooms & 2 Bathrooms 2 Car Garage Same Neighborhood 1,400-1,700 ft 2
Initial Goals Take pictures of foreclosed property inside and out. Obtaining estimates of remodeling the house, including labor and materials from a licensed contractor. Obtaining an estimated value for renting out the entire house.
Resources Century 21 www.century21.com www.century21.com Realty Trac www.realtytrac.com www.realtytrac.com Google www.google.com