The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (214591)	8/7/2009 12:14:17 PM
From: Lazarus	Read Replies (2) of 306849

yes, there are INCREDIBLE DEALS out there.... finding them, well, that can be challenging. I just put in an offer on a home (short sale) for approx 1/6 of what is owed. may not get it -- no sweat -- but wont be surprised if i do. i bought a first trust deed on really nice mobile home on a 1/2 in WA overlooking the Columbia river. balance due of 68k. paid 35k. (it probably has a fair market value of 100k) They are having trouble making the payments. I told them if it got to where they could not make them... I may just offer them some cash to move and make it my home. im buying a first trust deed with a balance of 78k for 25k. i will need to write down the note because the house is only worth about 35k --- but the guy who is in it put 38k down and doesnt want to lose it. BUT THE CASH FLOW IS GREAT (currently $630.00 per month)

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