942 Northwest 12th Street
Fort Lauderdale, FL 33311
Asking Only: $144,900
- Bedrooms: 2
- Bathrooms: 1
- Build Type: CBS House
- Living Area Sq Ft.: 720
- Lot Sq Ft: 6,600
- Year Built: 1954
- Ideal Investment Strategy: Fix & Flip
- Potential ARV: $205,000
- Estimated Rehab: $10,000 -$20,000
- Rental Average: $1,400/month
* Terms of contract must be:
- 10% escrow deposit.
- 0 inspection period.
- Assignable contract, buyer must pay ALL closing cost.
- Must close with title company on original contract.
* Info in this email is deemed reliable but is not guaranteed. Buyer should conduct their own due diligence to confirm any information listed above.
WHAT WE LOVE ABOUT THIS DEAL
FEATURES: This is a nice 2/1 Property + one car garage in the heart of Fort Lauderdale. Property has NEW roof, central A/C, fenced in yard. Property has passed yearly inspections for the last 10 years. Centrally located right off Sunrise Blvd, easy I-95 access. Buyer must assume month to month tenant.
SMART MONEY TIPS: Need little updating and TLC. Property currently rented for $1,110 a month to long term section 8 tenant. Rental average potential over $1400 a month. Little bigger comps sold up to $234k, ARV about $205k.
LOCATION, PICTURES, COMPS
- Comps: click for comps
- Rental Comps: click for rental comps
- Inspection Report: click for inspection report
SMART MONEY INVESTOR TIP: The main reason to use other people’s money for real estate investing is because as a new investor your access to cash is limited. Finding private funding sources is a great way to build your portfolio and your own cash reserves for future investment opportunities. Watch Kevin Jimeno explain how this works.
MORE SMART-MONEY FACTS
- IDEAL FIX & FLIP – From the moment you put together your scope of work and hard money loan application to the final touches on your fixed-up house – renovate for your buyer, not for yourself. With a little TLC, this is an ideal fix-n-flip or great rental property. LEARN MORE: What’s an ideal fix & flip?
- $1,400 MONTH RENTAL AVERAGE – A common rule a savvy real estate investor follows is to pay no more than 100X the monthly rent as the purchase price. LEARN MORE: Why Rental Average is important
- FINANCING – PRE-APPROVED – Approved at 70% of the AVR through Collective Lending Group, a direct lender for real estate investors. SMART MONEY TIP: Why use other people’s money
- GREAT POTENTIAL ARV – Knowing a property’s ARV helps fix and flip investors to work backward and determine how much you should be willing to offer for a property. LEARN MORE: Calculating the ARV of an investment
- RELIABLE CBS CONSTRUCTION – In general, CBS (concrete block structure) homes are viewed as more desirable in the state of Florida because frame homes are more susceptible to termite damage and CBS homes are more able to handle the Florida storms.
READY TO MAKE AN OFFER?
CALL YOUR BROKER TODAY!
WE USE A FIRST-COME, FIRST-SERVE POLICY. THE FIRST REAL ESTATE INVESTOR TO SIGN A CONTRACT AND OFFER A DEPOSIT IS THE ONE TO SECURE THE PROPERTY. NO BIDDING PRICES HERE!
Disclaimer: House is being sold as-is, and buyer is to pay all closing costs. Buyer is not relying on any representations, whether written or oral, regarding the properties above. Price based on a cash or hard money offer and is net to seller. All offers on properties require a $3000 to $5000 non-refundable earnest deposit and have an average 7 day close of escrow. Buyers to do their own independent due diligence. Best Inv Group Inc, and its employees make no guarantees concerning property condition, value, characteristics or financial benefits. Best Inv Group Inc have a business relationship with various title agencies. Equal Opportunity Housing. One or more members, directors or employees of Best Inv Group Inc are licensed real estate agents in the state of Florida. There is no agency, expressed or implied, between Buyer and Best Inv Group Inc or any of its members, directors or employees.