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D.I.R House: Needs Some TLC. Projected Cashflow $620/mo. 20 Mins from Dallas.

Suggsted Offer $ 90,000
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Property Description

Address: call/email for specifics

What Do We Know About This House

  1. CASH purchase – you can refi once the house is rented/in the future time. OR
  2. Special mortgage – talk to us about more details.
  3. Simply Do It’s the agent has NOT visited the house yet.
  4. Schools in the area are you not great but do work – but a very nice community.
  5. Sitting on the market for a ~11 days
  6. 20 minutes from downtown Dallas
  7. Low crime area

Agent’s Notes from Visit

  • Yes on June 4 2020
  • Needs lots of work: for a rental: cleaning, all paint, new flooring/carpet, fence, the backyard is overgrown, new countertops, new chimney, roof – unknown, HVAC – unknown.
  • Possibly a foundation issue.

Pricing and Other Indicators

Zestimate $170,000
Asking $170,000
Gap $0
SDI’s suggested CASH Offer $90,000 + estimated $55k for renovation.
Offer Asking Gap -$30,000
Offer Zestimate Gap $30,000
Offer Zestimate % 18%
Days on Market 11
Rent Zestimate $1,750
Rent/Price 1%

 

Your Next Step

Contact Simply Do It – meet@simplydoit.net

 

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 

 

 

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.

 

Notes from Listing (seller’s) Agent/Owner

  • Needs a new roof
  • New Tubs
  • New toilets
  • The new garage door is needed as well
  • New kitchen cabinets and countertops
  • He has no specific knowledge about the foundation but is aware of settling issues

 

 

Address: txt/email for details
State/county:
Zip: 76011
Country: United States
Open in Google maps
Property ID: 21359
Price: Suggsted Offer $ 90,000
Property size: 1 845 ft2
Property lot size: 5 619 ft2
Bedrooms: 3
Bathrooms: 2
Year Built: 1984
Garage: Garage
Garage Size: 2
Rent (mo): 1750
ROI (ann): 19
Cashflow (mo): 620
Property Taxes (mo): 273
Insurance (mo): 85
Repairs (mo): 75
Management Fee (mo): 100
Leasing Fee (ann): 875
HOA (mo): 0
Vacancy Rate (ann): 4
fireplace
back yard
fenced yard
walkscore0 / Car-Dependent more details here

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