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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosure auction questions.. Posted by John - CA on June 04, 2003 at 9:34 AM In Reply to: Foreclosure auction questions.. posted by Ward-CA- on June 04, 2003 at 7:10 AM Ward, Why would an investor invest over 80%of FMV, spent $2000 or so to evict homeowner, plus pay all bax taxes like 6 months, then pay interim mortgages, taxes for 3 months in the rehab/resale process, then finally sell it at FMV, then pay 3.3% witholding tax(less then 2 years), and come out only on a single digit profit margin? Maybe 7-10%. I can understand that this is one way to buy primary resisdences at lower than FMV but this does not sound like investor savvy? Follow Ups: betting on appreciation Travis-CA 11:18 AM, 06/04/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Why would an investor invest over 80%of FMV, : spent $2000 or so to evict homeowner, : plus pay all bax taxes like 6 months, : then pay interim mortgages, taxes for 3 months in the rehab/resale process, : then finally sell it at FMV, then pay 3.3% witholding tax(less then 2 years), : and come out only on a single digit profit margin? Maybe 7-10%. : I can understand that this is one way to buy primary resisdences at lower than FMV : but this does not sound like investor savvy? 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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