Buying Foreclosures
- Thread starter Chapdog
- Start date
If you have the money it's worth looking into as a summer rental property even. Doesn't have to be too nice to fetch a pretty penny as a weekly rental. And it looks damn close to the train, too. I wouldn't discount the benefit to Bostonians of avoiding the summer traffic by hopping on Amtrak to get to their vacation spot.
If you go down and check out the birds eye view.. head due east to the beach then north u see the pier and the state park. that's where the vacationers go.. so it is close. likely a 600-800 a week rental unit if i fixed it up.
here is the record on file. They selling it for under appraised value but i still don't know extent of the problems with the house. Need to talk to an agent.
http://eisweb.woodardcurran.com/OOB/pdf/3871.pdf
http://eisweb.woodardcurran.com/OOB/pdf/3871.pdf
DigitalDave
Sexy Beast!
i wouldn't mind living there (for a week).. lol
Re: your inquiry on 39 Highland Ave., OOB, ME
This is a foreclosure home. It is only a 10 minute walk to the beach and does have ocean views from the enclosed 3 season porch.
It will need some work, however. The pipes have frozen and will need repair, one of the upstair bedroom ceiling has water damage due to the old unused chimney which sould be removed or repaired. One window is broken. The only source of heat is a monitor heater which runs on K-1oil. We do not know if it works.
The property is being sold as is. If you pay cash, you only need a letter from your bank stating that there is enough funds in your account for this property. If you are going to finance this property, you'll need to be pre-qualified by Countrywide Home Loans first. But you can finance through your bank. They just want the pre-qual lerter to go in with the offer, but you can finance wherever you want.
This is a foreclosure home. It is only a 10 minute walk to the beach and does have ocean views from the enclosed 3 season porch.
It will need some work, however. The pipes have frozen and will need repair, one of the upstair bedroom ceiling has water damage due to the old unused chimney which sould be removed or repaired. One window is broken. The only source of heat is a monitor heater which runs on K-1oil. We do not know if it works.
The property is being sold as is. If you pay cash, you only need a letter from your bank stating that there is enough funds in your account for this property. If you are going to finance this property, you'll need to be pre-qualified by Countrywide Home Loans first. But you can finance through your bank. They just want the pre-qual lerter to go in with the offer, but you can finance wherever you want.
DigitalDave
Sexy Beast!
I payed 150 a night to stay in a crappy motel for in the middle of the week during non-peak season. You could probably make 600 easy off a vacationer during the summer. But you ain't gettin shiznit for the fall and winter.
yah i figure 600 a week for this rat hole if i fixed it up. figure i can get 6-8weeks of rental if im lucky. ill stay with 6 to be safe. thats 3600 a year in rental income. THe mortgage on this rat would prob be around 5400 a year.
I dont think its worth it cause i dont want to have to dump money in to fix the pipes and roof. Ill offer them 50k.