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Old Yesterday, 06:27 AM
 
162 posts, read 111,567 times
Reputation: 60

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I seen a sign that said Duplex: $20,000 Down

Is this a good offer? Good investment?
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Old Yesterday, 06:38 AM
 
8,058 posts, read 9,853,597 times
Reputation: 14314
sure, go for it.
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Old Yesterday, 06:45 AM
 
Location: Gainesville, FL
304 posts, read 67,695 times
Reputation: 392
Why do people bother posting without any details?
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Old Yesterday, 07:04 AM
 
5,519 posts, read 2,509,700 times
Reputation: 15768
How long is a string?
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Old Yesterday, 07:17 AM
 
Location: Jacksonville, FL (Mandarin)
2,400 posts, read 5,314,400 times
Reputation: 1525
Quote:
Originally Posted by mrxalleycat View Post
I seen a sign that said Duplex: $20,000 Down

Is this a good offer? Good investment?
Was there a phone number listed on the sign? If so, did you call it? If so, did you ask any questions? If so, what questions did you ask? Did they answer your questions? If so, what were their answers? Did you find those questions useful? If so, what do you think of the investment potential? Will you be making an offer? If so, what will be the terms of your offer?
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Old Yesterday, 07:31 AM
 
7 posts, read 579 times
Reputation: 16
Quote:
Originally Posted by mrxalleycat View Post
I seen a sign that said Duplex: $20,000 Down

Is this a good offer? Good investment?
Great offer! Do it!
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Old Yesterday, 08:52 AM
 
6,847 posts, read 8,193,247 times
Reputation: 11963
Quote:
Originally Posted by mrxalleycat View Post
I seen a sign that said Duplex: $20,000 Down

Is this a good offer? Good investment?
That's not even an offer--it's an advertisement. Offer them $30,000 down and tell us how it works out.
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Old Yesterday, 09:47 AM
 
212 posts, read 87,827 times
Reputation: 368
How many smaller boxes can fit in the larger one?
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Old Yesterday, 11:13 AM
 
Location: Mount Pleasant, SC
1,960 posts, read 2,498,907 times
Reputation: 1725
Quote:
Originally Posted by turf3 View Post
How long is a string?
...couldn't rep you again!
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Old Yesterday, 12:10 PM
 
Location: Ft. Myers
18,070 posts, read 11,435,223 times
Reputation: 38334
Quote:
Originally Posted by mrxalleycat View Post
I seen a sign that said Duplex: $20,000 Down

Is this a good offer? Good investment?
Ok, as you can tell from some of the replies, you really didn't give a lot of details, but let me say this. If that $ 20K down is for someone who is going to do owner financing, run as fast as you can. If it is through a traditional lending institution, then it might be ok.

Reason I say that is, many years ago we bought our first home and the owner, a well known local businessman, financed it for us as we were a young, married couple with very little money and had not established credit yet.

For about 10 years (out of the 20 year mortgage) we paid faithfully every month and we also put a lot of money into the house remodeling it. Then, as our credit got better, a banker offered to loan us money at his bank to refinance it and give us some cash to finish the remodeling.......so, we applied.

He came back a couple of days later and told us our home had a lien on it from a lawsuit, and he could not make us the loan. Our "reputable local businessman" had gotten into some trouble, and everything he owned (including OUR HOME) was tied up in a law suit ! What he had to do was sign off on our home to release it, but he was unwilling to do so.

Finally, I went to his business and told him I was going to choke his *** if he didn't sign the paperwork, and he did. But we could have lost our home because of it being tied into his dealings. I would never buy anything financed by some individual again in my life, not a home, not a car.

Just a word of caution about owner financing.
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