|
| | 14 units in Saginaw | 
| |
|
Property Type: Residential Income - House(s)
Last Updated: 2/5/2010 8:45:06 PM EST
Property # 26724
|
Location:
|
Saginaw, Michigan 48602 USA
|
View Address On Mapquest
|
|
Value:
Loans:
Equity:
|
$420,000
$0
$420,000
|
|
Four large one bedrooms fully rented
|
|
|
|
Property Description:
14 Homes Currently Rented For $3000/month; W/potential Of $4800/month; Investment Group will buy back property under land contract (NNN) rentals + interest. Turn-key investment; let your cash grow!
Benefits to New Owner:
Great Cash flow and upside. Owner can also have a hands-off investment; no toilets,trash, or tenants! Invest with us and earn a guaranteed income; Investment group provides management and payments.
|
|
Unit Mix
|
| No information found. |
|
Annual Income & Expense
|
| | Per/Year | % of G.I. | Projected/Year | | Gross Schedule Income | $36,000 | 100% | $48,000 | | Less Vacancy (-) | $3,600 | 10% | $6,000 | | Other Income (+) | $0 | 0% | | | Gross Operating Income | $32,400 | 100% | $42,000 | | Operating Expenses (-) | $3,600 | 10% | $6,000 | | Net Operating Income (=) | $28,800 | 80% | $36,000 | | Loan Payments (-) | $0 | 0% | | | CASH FLOW (=) | $28,800 | 80% | $36,000 | | Capitalization Rate | 6.86% | | 12.00% | | Lot Size | | | Zoning | | | Yr. Built | |
| Additional Income & Expense Comments | | Rents are from $300-400/month + taxes, insurance and maintenance. However, investment group will buy back properties under land contract (lease option)for 10% more than exchange value + NNN + interest |
|
Loans
|
| | | Balance | Mo. Payment | % Rate | Year Due | Lender | Assumable | | Loan #1: | $0 | $0 | | | | NO | | TOTALS | $0 | $0 | | | | |
|
Additional Information Available Upon Request
|
| No Appraisal available at this time | |
|
Can Adds
|
| | | Property Type | Value | Loans | Equity | Cash Flow (Yr.) | | 1 | Personal Property/Automobile | $10,000,000 | $0 | $10,000,000 | $0 | | 2 | Land/Subdivision | $199,000 | $115,000 | $84,000 | $0 | | 3 | Residential Income/House(s) | $100,000 | $0 | $100,000 | $0 | | | CAN-ADD TOTALS | $10,299,000 | $115,000 | $10,184,000 | $0 |
| Can Adds Comments | | My buddy has 10M in antique cars that he may lend in the exchange;email me for list!
Texas lot with 75ft of Marina lot 186 in first phase http://www.costagrande.com/
Two homes in Grand Rapids |
Click to view Other parties that may want what you have based on a computer match from the property records data
|
Owner's Profile
|
| Occupation Investor Name Please Sign In or Register to view owner information. | | Why Owner No Longer Wishes to Own This Property | Want more leverage
Want to activate a nonproductive asset
Want to raise cash from an exchange |
| Owner Comments and Benefits desired from Exchange | | We want to build relationships with investors. We are renovating homes and building America strong. We need capital in an exchange to keep the cycle moving forward. |
|
|
Will Consider Exchanging For
|
Commercial: Factory Outlet, Mall, Medical, Office, Resort, Retail, Shopping Center, Strip Center, Vacant, Other
Industrial: Mini Storage
Residential Income: Apartments, House(s), Vacant
Land: Commercial, Farm / Ranch, Industrial, Leased, Mixed Use, Multifamily, Residential, Subdivision, Timberland, Other
Mobile Home Park: Family, Senior, Trailer / RV, Other
Personal Property: Cash, Notes / Paper, Airplane, Automobile, Boat / Yacht, Gem Stones, Stocks
Business Opportunities: Boarding, Care Home, Health, Industrial, Lodging, Marina, Market, Recreation, Restaurant, Retail, Sports, Other
Owner Occupied: Duplex, House
U.S. Locations
| Map | States/Regions: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wash. D.C., West Virginia, Wisconsin, Wyoming, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon - N.W.T., Guam, Puerto Rico, Other - Non U.S.
Regions: 'WEST', 'SOUTHWEST', 'MIDWEST', 'SOUTHEAST', 'NORTHEAST'Non U.S. Locations
Africa, Australia, Canada, Caribbean, Central America, Europe, Mexico, Middle East, New Zealand, South America, South Seas, Other |  |
| Owner Will Exchange for Additional Comments | | We are looking for 50% cash with nearly any asset making up the difference in equities. The exception is, we will trade up for a vacant lot in La Jolla, Del Mar or Rancho Sante Fe, California. |
|
Property Represented By
|
| Click Here to contact the Owner or Agent representing this property. |
REE.com Inc. has not verified the above property information and therefore does
not guarantee or warranty any information contained herein.
It is your responsibility to seek independent assistance for legal, tax, financial
and physical inspections. All information submitted is subject to errors, omissions,
change of price/value, withdrawal and to any special listing conditions
imposed by the principals.
|
|
