This is worthy: An approved short-sale at $89,900. In Summerset Villas, a condo conversion that went belly up. A large portion of the homes are owned by a single entity and thus financing is a problem.
So cash is the only thing working for this.
With $250.00 a month HOA, $100 for insurance, $500 year (misc) at asking- The owner is willing to rent back at $1,250 a month for a 3 year lease and is gainfully employed.
= 10.457% return on your $89,900.
Full Disclosure: This is a Lund Team property. This is how we know it just got approval from the bank at $89,900. 1350 Escondido Blvd #26
Tue, Dec 8, 2009
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