• Real Estate Deal of the Day September 12, 2019

    Real Estate Deal of the Day September 12, 2019

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    Update: This property just sold since the recording was made.

    MLS Deal Property

    159 Blue Lake Drive, Huffman, Texas 77336

    List Price: $100,000
    Bed/Bath/Pool/Stories: 4/3.0/0/1

    MLS Deal Finder Estimated Value:                          $168,044
    MLS Deal Finder Estimated Discount:                      $68,044
    MLS Deal Finder Estimated Discount%:                   40.49%

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    Real Estate Deal of the Day September 12, 2019

    [Video Transcription]

    This is Real Estate IQ’s Deal of the Day. And today we have found a fabulous deal for you, in the Houston market.

    Hello, everyone. Thanks for tuning in today's Houston deal of the day- It is a mobile home in Huffman Texas Huffman is north of Lake Houston. North of Kingwood* and just east of New Cany*, so up in that area. Large lots. This one is 1.84 acres, and it is a double wide mobile home it's 2280 square feet, built in 2006 interesting that it says the house type is contemporary modern. The agents remarks, a wonderful opportunity to own acreage in a beautiful setting this 1.9 acre. Property boasts upon two car garage and shed, as well as a large double wide mobile home that has up to five bedrooms, the home does need some TLC. It has a great floor plan and will make a lovely home for a lucky buyer. Cash only please so out of the five sold comps that were picked up there. Three of them are also mobile homes. So this one is actually first let's look at those on the map, mobile homes are these three that are in blue. And here's our subject property. So we could take a little Google guy drop him and check out the other properties. So it's just, it's kind of just a nice rural neighborhood. So as this is a mobile home and might be a great candidate for Owner Financing. A monthly income, a little monthly cash flow, but you're not worrying about taking care of things that break. So here you can tell there's another mobile home. So there's a lot of mobile homes on these big lots in that area. So this one is listed at 100,000 and it's capping at 160,800 so that's a $68,000 discount so I'm pretty sure that your repairs are going to be led a lot less than that. So let's look at the pictures of the comps and actually this is our subject property. There are no pictures of the inside yet so you would probably definitely want to see it. To give you a better idea. It's got a nice little pond there. Here's another one. They're all on about one and a half to two acre lots so a lot of space. Windows have a couple of the inside and this one has you can see is very dated on the inside without wallpaper and laminate. Again, it's a mobile home. So you wouldn't expect really fancy features. That's a vinyl floor. Kitchen looks nice, though. And then number three. This one is a little bit more modern okay. Staging on this one still has laminate countertops. Some carpet in the bedrooms nice tile shower nice sunken Jacuzzi tub there. I can spend some time in that. And here's the third one. Which also the kitchen looks nice, but it's also a little dated looks like they tried to do a little two tone painting without tape. And that's all there is to show that one. And a great low cost way maybe to get in and do some other Owner Financing. So as always, make sure you do your own due diligence. But thanks for tuning in and happy investing.

    If you want to learn how to analyze deals just like us. Make sure you check out this webinar on how to run comps. The link is below. We'll also introduce to you this new tool called Fast CMA which is a high-end professional comps tool that allows you to pull comps and analyze comps just like the experts. Make sure you check it out.

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