distressed property’

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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

Renovation 13,000

Landscaping 800

Insurance 1,800

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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