This property has untapped potential!
Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for Colorado St located in Romulus, MI is $991/month. Comparable homes around Colorado St that are rentals have monthly ranges starting as low as $890 per month and as high as $1,090 per month. An owner looking to use this property as an investment could bring a return in the area of $890 - $1,090 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
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