ANSWP Commander
February 6th, 2008, 01:03 PM
Hello all:
This is a bit off topic for the list, but I thought I'd throw this
out here, because I know there are a number of real estate investors
on this list.
My company is liquidating 17 of the 25 properties we have in the West
End of Roanoke, Virginia, and may liquidate the rest, in order to
engage in other business ventures. I am not leaving Roanoke or even
getting out of real estate, just moving up in the world.
The 17 properties / 35 units gross about $220,000 annually and we are
asking $2 million for them as a package, or between $99,500 and
$165,000 for them individually. Not all of the properties involved
have been listed. Monthly rents on them vary between $800 and $900
for single families, $950 - $1349 for duplexes and $1499 - $2250 for
our four units. I've had two offers come in, one at $1.7 million and
one at $1.75 million, before we placed these on the market; I am
looking for something closer to the $2 million asking price, but want
to have a contract on them -- or most of them -- within 90 days.
If you own less than four properties -- or less than ten -- any one
of these is a cash gusher -- if you're paying $600 - $700 / month in
mortgage with no money down, you'd be taking in $950 - $1100 / month -
- more for the four units -- and they are excellent starter homes.
Even at the now ridiculous non-Fannie Mae 1-4 unit rates of 10% -
12%, these properties make their money.
If there's any interest out there, email me and I'd be happy to
discuss things with you.
And, as the law requires us to say, this is an Equal Housing
Opportunity.
Bill White, Commander
American National Socialist Workers Party
This is a bit off topic for the list, but I thought I'd throw this
out here, because I know there are a number of real estate investors
on this list.
My company is liquidating 17 of the 25 properties we have in the West
End of Roanoke, Virginia, and may liquidate the rest, in order to
engage in other business ventures. I am not leaving Roanoke or even
getting out of real estate, just moving up in the world.
The 17 properties / 35 units gross about $220,000 annually and we are
asking $2 million for them as a package, or between $99,500 and
$165,000 for them individually. Not all of the properties involved
have been listed. Monthly rents on them vary between $800 and $900
for single families, $950 - $1349 for duplexes and $1499 - $2250 for
our four units. I've had two offers come in, one at $1.7 million and
one at $1.75 million, before we placed these on the market; I am
looking for something closer to the $2 million asking price, but want
to have a contract on them -- or most of them -- within 90 days.
If you own less than four properties -- or less than ten -- any one
of these is a cash gusher -- if you're paying $600 - $700 / month in
mortgage with no money down, you'd be taking in $950 - $1100 / month -
- more for the four units -- and they are excellent starter homes.
Even at the now ridiculous non-Fannie Mae 1-4 unit rates of 10% -
12%, these properties make their money.
If there's any interest out there, email me and I'd be happy to
discuss things with you.
And, as the law requires us to say, this is an Equal Housing
Opportunity.
Bill White, Commander
American National Socialist Workers Party