Amy Gardner

I have SC foreclosures for sale in Columbia, Spartanburg, Greenville, and Conway right now. Please let your investors know that these homes are available. You can check out my website or email me for a specific list. These are great deals and have to be sold fast. Most of the homes will need to be paid for with cash but there are a few that we have more time and could be financed. NOW is the time to buy, get your investors excited, show them great deals!! Contact me today aogardner3@yahoo.com, www.aogproperties.com, 803-422-8306!!

Here are our wholesale / foreclosure properties for April 2009, must be sold by end of April!

April 2009 Foreclosure / Wholesale Properties

Richland County

9 Cadet Court

Hopkins, SC 29061

3 Bedrooms / 2.5 Baths

1281 SQFT

Built 2004

2 Story

One Car Garage

Minor Repairs

Vacant

Tax Value: $121,000

Investor Price: $74,000

2608 Banner Hill Road

Columbia, SC 29209

3 Bedrooms / 2 Baths

1368 SQFT

Built 1985

Vacant

Tax Value: $91,200

Comps: $100,000

Investor Price: $58,000

1004 Piney Grove Road

Columbia, SC 29210

4 Bedrooms / 2 Baths

1713 SQFT

Built 1972

Vacant

Tax Value: $93,900

Investor Price: $73,000

259 Gallantry Drive

Irmo, SC

Lot 56 in Ascot

Lot is on the pond

Seawall and partial foundation already laid

Retail Value: $174,000 (Was listed on MLS at this price)

Investor Price: $85,000

1106 Round Top Church Road

Blythewood, SC

3 Bedrooms / 2 Baths

1655 SQFT

Built 1979

2 Acres

Not Vacant

Tax Value: $145,400

Investor Price: $49,000

2 Penhurst Court

Columbia, SC 29229

Winslow Subdivision

3 Bedrooms / 2Baths

1220 SQFT

Built 1992

Not Vacant

Tax Value: $89,900

Investor Price: $62,000

6564 Margate Street

Columbia, SC 29203

3 Bedrooms / 1.5 Baths

925 SQFT

Built 1967

Not Vacant

Tax Value: $67,400

Investor Price: $36,000

Please call or email me for more information...pictures, appraisals, etc..

www.aogproperties.com

WHY SHOULD YOU BUY A HOME FOR YOUR COLLEGE STUDENT?

I WILL GIVE YOU MANY REASONS.....

 

If you haven't saved any money for your students college fund, buying a home for them to live in is a great way to over come expenses.  I know several people that purchase homes for their college student and make enough money or even more to pay for college.  It is a really smart investment and great stability for your student.

Owning the property your student lives in can be beneficial in many ways:

1.  You could put the mortgage in their name as well to help them gain credit.

2.  You get many tax benefits from owning a rental property.

3.  If you buy a house with more bedrooms than you need have your student rent to friends to help pay the monthly payment.

4.  It gives your student stability by not having to look for a new place to stay every year.  They also have a place to keep their things over summer when school is out.

5.  By buying a property with a fixed mortgage rate your students expenses will be fixed all four years of college.  They will also not have to worry about paying security deposits and getting the deposit back every time they move.

6.  It will be a great learning experience for your student.  They can help with the process so they learn what real estate investing is all about.

7.  They will learn the responsiblity of owning and maintaining a property.

8.  If you buy right then in 4 years you are sure to make enough money to pay for your students tuition.  As we all know, you can buy right now!  Also, if your student is able to take the mortgage out himself he can take advantage of the $8,000 first time home buyers tax credit that does not have to be re-paid.

Here are some tips from me when purchasing a property:

• Try to find a foreclosure or wholesale property that needs a little work.  You can put your student to work by painting and other easy to do items.  You are most likely going to get a better deal on a house that needs some work.  You don't have to have the house in perfect condition when the student moves in.  Just make it nice and livable and do the rest of the upgrades along the way.  You can use extra rental income or take out an equity line to help with the rehab.
• Take advantage of the tax credit if possible. This will give you some extra rehab or spending money for your student while in school.
• Make sure you obtain a home inspection so you know exactly what you are buying and how much work the house will need.
• Have a professional contractor come over and give an estimate of the repairs so you will know how much money you will need over time to rehab the home.
• Find a realor that specializes in foreclosures and renovations.  I specialize in this market and feel it is very important to find someone in your area who does as well. There are many realtors who don't know the first thing about foreclosed homes and how to negotiate the best price possible. There are many creative ways to negotiate with banks so you can get the lowest price possible.

I hope this helps any parent thinking of purchasing a home for their student.  If your student is attending the University of South Carolina or any school in Columbia, SC please give me a call 803-422-8306.

Amy Gardner

www.aogproperties.com

Having the option for owner financing on MLS could be a great way to seperate your listing. In today's lending market it is becoming very difficult for buyers to obtain financing. If you have the flexibility to owner finance there are plenty of great buyers out there that could use this type of offer. Some of the advantages of owner financing would be charging a 7% or higher interest rate. Having a steady cash flow of money monthly. Helping reach the 2 year mark for capital gains. Some of the disadvantages would be having to go through the foreclosure process if the buyer defaults. Taking monthly payments and making sure their insurance stays in place. Not having the cash to buy another property. Some ways to overcome these issues are have the buyer make at least a 10% down payment. That way the buyer has money vested from the start. Hire a property manager or use an on-line payment system to collect monthly rent. Lastly, hire an attorney to help with the terms of the owner finance.

Another option is to owner finance a 2nd mortgage. If the buyers can afford 80% of the financing and have 10% to put down hold a 2nd mortgage of 10% to help get your property sold.

For sellers and agents this could be a huge asset in selling your home quickly. There are decent buyers out there who just can't get the financing with todays lending authority. Give it a try and let me know how it works out!

Amy Gardner

803-422-8306

This is my first blog so bare with me:

I specialize in locating foreclosures for SC investors. It is very important for investors to know the process of buying a SC foreclosure. In this blog I wanted to express my best tip for investors. After selling tons of foreclosures and locating many investors I have found what I think is the biggest frustration.

I email and call many investors weekly about certain foreclosures my company has to offer. The reason that these are investment properties is because they are a good deal. The biggest problem I have is that my investors move too slow and then are frustrated when they don't get the contract. I am here to offer advice to relieve this frustration from many investors.

1. The most important advice I feel an investor should know is to have a trusted relationship with the agent. Buying a foreclosure from my company is fairly different than your traditional home. It is important to me that my clients trust my knowledge.

2. Once you have an established relationship it is important to move quickly. This is where the trust comes in to play. By trusting the advice and knowledge of the agent you are able to land those great deals. The reason that investment properties are good deals is because they are priced to sell quickly. Anyone knows that if the property is priced well below value it will not last long. This is the biggest frustration of my investors because they feel they move quickly and still do not get the contract.

3. Here are ways that my company overcomes delays of contracts. We order appraisal and title on every foreclosure that we find and know we can sell. We feel by having this done we can offer a good solid value on our properties as well as a clean title. By doing this we are able to close deals as quickly as 10 days.

If you decide to become a SC investor please make it your priority to build rapport with a knowledgeable agent. Surprisingly many agents do not know the process of foreclosures and how to deal directly with banks. Make sure you find an agent that has foreclosure experience and knows the market inside and out!