The Deal of the Day will feature a top real estate investment deal based off of potential cash flow and potential price appreciation.  MLE specializes in assisting investors in one of the best investment markets in the country – Memphis, TN. We will help you identify potential investments, offer detailed financial analysis, coordinate any renovations, and manage the property upon completion.  Not located in Memphis?  No problem!  Our investors are all over the country.  We will send you videos of potential investments and detailed financial reports of all income and expenses.

Today’s Deal of the Day: 3250 GUERNSEY AVE (PDF)

Type: 16 Unit Apartment Complex

Asking Price: $130,000

Date Listed: 10/30/2008 (Reduced 4/28/2010)

Potential Rent: $7,900 per month

Repairs: Needs substantial repairs.  Would probably have to be an all-cash deal.

Potential Cash Flow: ENORMOUS!  Contact us for a detailed analysis such as this (PDF).

 

Want more information: Call Za!  901-791-4383 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NOTE: True market value and profit potentiial cannot be determined until after a thorough due diligence period including but not limited to physical inspection, financial analysis, title search.

Listing Courtesy of Crye-Leike, Inc., REALTORS

Beginning in July, Fannie Mae will allow financially troubled home owners to complete a “deed in lieu of foreclosure” or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years.

Currently, borrowers who have completed a deed-in-lieu must wait four years to apply for a loan that Fannie will purchase. Home buyers who go through foreclosure must wait five years.

All these waiting periods can be reduced further, if the potential buyer can show extenuating circumstances. "We are beginning to think about post-recession, how you address borrowers who became unemployed through no fault of their own ... and now deserve the right to re-enter the housing-finance system," said Federal Housing Association Commissioner David Stevens.

Source: The Wall Street Journal, Nick Timiraos (04/26/2010)

Fannie Mae is extending through June 30 an incentive program that gives buyers of distressed properties in its inventory a 3.5 percent rebate of the final sales price. The money can be used toward closing costs or for selected appliances. The program began in January and was set to expire April 30.

Fannie has more than 62,000 homes listed on Homepath.com. It wouldn’t comment on the volume of sales driven by its deal, but the company reported owning 86,000 properties at the end of 2009.

Source: Reuters News, Lynn Adler (04/27/2010)

All individuals in our armed services, now have until April 30, 2011 to take advantage of the Homebuyer Tax Credit.

Source: AgentGenius