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D.I.R House: Cashflow $750/mo. $80,000 in Equity. Needs TLC.

Offer+Remodel $ 237,500
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Property Description

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Name Here, happy client
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Name Here, happy client

Address: call/email for specifics

Investment Highlight 

Market Value $325,000
Asking $261,000
GAP -$64,000
SDI’s suggested Offer $220,000
Offer-Asking GAP ($) -$41,000
Offer-Asking GAP (%) 16%
Offer-MarketValue Gap ($) -$105,000
Offer-MarketValue Gap (%) 32%
Days on Market 140
Estimated (rough) repairs needed $17,500

 

What we Do NOT Know YET about This House:

  1. No inspection report available yet
  2. Condition of HVAC
  3. A Simply Do It agent has NOT seen this house yet
  4. HOA dis/allows rentals

What Do We Know About This House

  1. New roof installed May 2020
  2. $750 projected cashflow AFTER expenses and mortgage payments
  3. It should qualify for both cash and conventional financing.
  4. Special mortgage – IF NEEDED we have one that can assist with financing the remodeling cost.
  5. Good schools in the area are.
  6. Sitting on the market for a ~140+ days
  7. 30 minutes from downtown Kansas City
  8. Low crime area
  9. Based on FEMA’s map – not in a flood area – needs to be confirmed w/ an insurance agent.
  10. Foreclosures property – no seller discourses provided

Your Next Step

Want to Understand the flow of buying a D.I.R property? see the flow chart here

Contact Simply Do It – meet@simplydoit.net

Agent’s Notes from Visit

  • N/A yet

What is a D.I.R – Diamond in The Rough – Investment Property?

Profit from Properties that Slip Through the Cracks

Some properties fall between the cracks – this one is an excellent and very rare example.

What does “between the cracks mean?

A retail buyer or an investor who uses a mortgage would NOT be able to purchase this house. This house will not be qualified by an appraiser, reason being – it needs some work in order to pass appraisal. This level of work, although is not something every buyer is willing to do, are you merely because of the cost associated.

House flippers may not see enough profit margin and will pass this one over.

This creates a great opportunity for a cash buyer who is willing to do some work on this house and make it livable.

As a buyer who has the ability to buy cash, you should see this “slipping through the cracks” as a great opportunity.

Personal note: I need to look at more than 300 houses to see one with all this upside potential.

D.I.R Fee: 2% with a minimum of $3,500 + regular Simply Do It fees applicable 

 

Notes from Listing (seller’s) Agent/Owner

House needs: N/A yet

 

Agent Notes

N/A yet

Photos Taken During SDI’s Agent Visit

N/A yet

FAQ

  • Who will do the work?
    Simply Do It’s vetted local team will handle the work
  • Is this a full/complicated rehab project?
    No. As much as we can tell it will require a painter, flooring, roofer, HVAC, misc. other items (handyman)
  • Do you have an inspection report?
    No. Buyer will need to hold an inspection once under contract
  • Can I buy remotely/sigh-un-seen?
    Yes. Simply Do It has vetted, trusted teams on the ground including property manager, Realtor, and lender.
  • Do you provide ANY guarantees?
    No. This is an investment and there are no guarantees. We will do our utmost to help any buyer as we have assisted in more than 4500 transactions nationwide for 16+ years.
Address: txt/email for details
State/county:
Zip: 64015
Country: United States
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Property ID: 21805
Price: Offer+Remodel $ 237,500
Property size: 2 758 ft2
Property lot size: 10 890 ft2
Bedrooms: 4
Bathrooms: 3.5
Year Built: 2001
Garage: Garage
Garage Size: 3
Rent (mo): 2200
ROI (ann): 22
Cashflow (mo): 750
Property Taxes (mo): 255
Insurance (mo): 115
Repairs (mo): 65
Management Fee (mo): 160
Leasing Fee (ann): 64
HOA (mo): 30
Vacancy Rate (ann): 4.5
back yard
front yard
fenced yard
deck
walkscore89 / Very Walkable more details here

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