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Lead In Atlanta, Ga 3/1.5 in Atlanta super cheap!

#1 User is offline   Shepnerd 

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Posted 04 July 2009 - 05:00 AM

I've got a 3/1.5 in Atlanta near Grant Park. Its got a private mortgage on it, but my investor is willing to release the lien for anything reasonable. Its in what was a rough area but there's been several renovations in the area. Not a war zone or anything, just was just beginning to turn when the market went south so there are still some unkept yards and such in the area.

The bank took it from me a while back thinking they were in first position on a HELOC that was behind a private investor and then deeded it back to me when they realized where they were. I just want to dump it and get a little something for my investor who is overseas.

Its a 3/1.5 in decent shape, I put a new roof on 4 years or so ago. Its been sitting vacant for a while and someone broke in and took the HVAC system, but it was winterized. The stove is still there, and the plumbing and electric are in good shape, all the glass is fine. There was a section 8 tenant in there when I bought it 5 years ago paying $925 in rent. I had it rented for $850 on the market.

Anyway, would make a great starter investment or rental because of the low dollars. I'm looking to pull $10k or so for it and there's going to be some back taxes unless the bank paid them, which I doubt...I havent looked to see what they are yet, though.

Probably got $4k or so in cleanup and HVAC, so you would be well under $20k for a house that rents for $750 easy and has some SERIOUS appreciation potential. It appraised at $130k when I owned it.

My regular e-mail is: shepnerd@yahoo.com hit me up if this interests you...

-Darrell
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