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An investor is considering the acquisition of a “distressed property’’ which is on Northlake Bank’s REO list. The property is available for $200,000 and the investor estimates that the property will require the following total expenditures during the next year:
Inspection $ 500
Title search 1,000
Property taxes 6,000
Selling expenses 8,000
a- The investor is wondering what such a property must sell for after one year in order to earn a 20 percent return? (2/. )
b- Assume you are planning to own a residential property, which approach would you choose to make the best price estimate, and why?
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