View
212
Download
0
Embed Size (px)
Citation preview
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 ft2
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 21www.century21.com
Realty Tracwww.realtytrac.com
Google www.google.com