Renovating a Foreclosed Property versus Buying Prime Real-estateTeam MembersObjectiveScenario # 1Scenario #2SimilaritiesInitial GoalsResourcesRenovating a Foreclosed Property versus Buying Prime Real-estate Team #5Team MembersVincent Rodriguez – Team LeaderJonathan Lee – OrganizerJimmy Luong – Enforcer / SummarizerBryan Vine – Tech.ObjectiveTo determine which method would result in the most profit.Monthly incomeSold at 3 yearsSold at 5 yearsSold at 30 yearsFuture Value.Scenario # 1Foreclosed PropertyFinanced w/ accelerated 15 year fixed rateSecond loan to pay for initial repairsFixer-upperMaximize value through minimal improvementsRent out each room individuallyScenario #2Prime Real EstateFinanced w/ typical 30 year fixed rateRented out to a familySimilarities4 Bedrooms & 2 Bathrooms2 Car GarageSame Neighborhood1,400-1,700 ft2Initial GoalsTake pictures of foreclosed property inside and out.Obtaining estimates of remodeling the house, including labor and materials from a licensed contractor.Obtaining an estimated value for renting out the entire house.ResourcesCentury 21www.century21.comRealty Tracwww.realtytrac.comGoogle
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