Valeria Grunbaum's Real Estate Blog | Miami, FL | Foreclosures, Investment Properties, Relocation, Appraisal, MLS

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Valeria Grunbaum

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Foreclosures

When is a home in foreclosure as an investment property?

Thursday, December 11th, 2008

•Buy the foreclosed house when it is at least 30% below the market price…
•Your closing costs on the foreclosure should be no more than 4%…
•The expenses at the time of re-sale of the foreclosure listing should be no more than 10%…
•You need to take into consideration all the monthly expenses that you will have during
the time you will be repairing the foreclosed property and completing the home improvements…
•Total of closing costs, re-sale costs and repairs of the foreclosed home should not be more than 20%, so you can have 10% profit…

CUANDO ES NEGOCIO COMPRAR UNA CASA QUE FUE REPOSEIDA COMO INVERSION?:
•Se recomienda comprar por lo menos con 30% de descuento.
•Gastos de cierre de compra generalmente estan alrededor entre 3% y 4% (dependiendo de cuantos puntos cobre la compaa de mortgage) sobre el precio de compra.
•Los gastos de re-venta son aproximadamente 10% (taxes, registrar el Deed y el mortgage, gastos de abogados, seguro de titulo, y comisin de venta), sobre el precio de venta.
•Los gastos de reparacion no deberan ser mas del 10%
•Se debe tomar en cuenta que existen gastos mensuales que hay que pagar durante el
proceso de reparacion, por ejemplo si se requiere agua, electricidad, intereses del
prestamo, condominio (si aplica), taxes, entre otros.
•En total los gastos de re-venta no deben pasar del 20% para que quede una ganancia de por lo menos 10%

Market Recap

  • Avg. Sales Price: $305,441

  • Avg. Days on Market: 117

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