Calling all investors..Condo in Fla..BPO already in...

**karlsd** · 03-24-2009, 07:11 AM

details here:

under the post called "need serious help please" started by me....

had an offer for 90.....BPO came in at 114....Bank dropped to 100..we are stuck here because my buyer cannot get financing. This is a reputable investor but the 2 banks he uses are not financing condos in Fla. I am hearign that banks are not financing condos as investments, especially in Fla. I do not know how true that is. Anyway I need a serious investor. If you can get financing and are serious. Contact me direct at dkarlsberg@yahoo.com

I have tenants in there now, their lease expires in June but from what I have been told, they want to stay beyond that date. I collect 1050/month, which is on the low side. Comparable condos collect 1150-1250.

Please be serious and be able to bring money to the table. I paid 215K for this condo in Sept of 05. The bank is waiting on a counter offer at 100K. So conceivably you can get this thing at 95K is my best guess. With the rent I am currently collecting, that equates to a postive cash flow

If you were to fiannce the entire 95K at 6% over 30 years (use your fav mort calc)

"Your estimated monthly payments are $713.66 (including taxes, insurance, and PMI if applicable), and you will pay $110,046 in interest over the life of the loan."

you would have approx a $337 positive cash flow per month at the current rent i am collecting.

If I could buy this thing back i would.