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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] You're making my decision very easy... Posted by Dave(CA) on February 04, 2002 at 8:27 PM In Reply to: Re: Depends on your definition of posted by Jim V on February 04, 2002 at 5:36 PM ... if 85% is considered rational I’ll pass on trustee sales. I’ve done several deals Jim (non trustee sale) and I consider a 15% margin dangerous. You can eat up 10% on back end closing costs and commissions alone. The chances of a foreclosure property you’ve never seen not requiring any work is virtually zero. The cost of the purchase money, or lost opportunity, plus taxes and insurance has to be about 1% per month. And, perhaps most important, there is always a 5%-10% margin of error in anybody’s estimate of FMV. And these are the known costs, there’s always unexpected costs. It’ll be interesting to see if other trustee sale experts think as you do. - Dave Follow Ups: Re: No argument here. Jim V 11:35 AM, 02/05/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : ... if 85% is considered rational I’ll pass on trustee sales. : I’ve done several deals Jim (non trustee sale) and I consider a 15% margin dangerous. You can eat up 10% on back end closing costs and commissions alone. The chances of a foreclosure property you’ve never seen not requiring any work is virtually zero. The cost of the purchase money, or lost opportunity, plus taxes and insurance has to be about 1% per month. And, perhaps most important, there is always a 5%-10% margin of error in anybody’s estimate of FMV. And these are the known costs, there’s always unexpected costs. : It’ll be interesting to see if other trustee sale experts think as you do. : - Dave Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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