Pat O’brien & Associates Real Estate
In some instances, land can be purchased for as little as a few hundred or a few thousand dollars. In others, the price can attain tens or even lots of of 1000’s of dollars. Vacant land contains farmland or ranches as well as land that doesn’t have any developed industrial or residential property. Sometimes referred to as raw land, this category of funding can also include pure assets similar to mineral, water, or air rights.
(I. E. a property that offered for $80000 that could easily have offered for $90000) I am also questioning if anyone has done an identical post to J Scott’s above, however on marketing. Most of a property’s revenue usually derives from tenant lease—making it extra essential to account for unit vacancy.
This is often the case when the quantity owed on the home is larger than the current market worth of the foreclosures property, similar to with a mortgage mortgage made at a high loan-to-worth throughout an actual property bubble. As quickly as the beneficiary repossesses the property it’s listed on their books as REO and categorized as an asset.
Do you have northern Michigan real property … Read More