Daytona Beach 1st Mortgage for Sale with 20 % discount
| Start Price |
USD 175,000.00 |
| Current Price |
USD 175,000.00 |
| Time Left |
- |
| Bid Count |
0 |
| Buy It Now Price |
- |
| Reserve Price |
- |
| Start Time |
Wednesday, July 02, 2008 |
| End Time |
Wednesday, July 09, 2008 |
| Location |
Brenham, Texas |
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See more about 'Daytona Beach 1st Mortgage for Sale with 20 % discount '
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Description
The original note was $250,000.00 on October 1, 2004. It is a 20 year 1st Mortgage on 801 Mason Avenue, Daytona Beach, Florida. The building was completely renovated by myself in 2002. It is 6,000 square feet, concrete block covered by stucco.. with a new roof , new air conditioning,new plumbing,new electric,new bathrooms,new landscaping,new concrete parking.. The current renter is a furnuture store paying $5,000.00 per month/triple net. The buyer who I sold it to put down $200,000.00 cash on November 1, 2004. The purchase price was $450,000.00 and the remaining balance now is $222,000.00. There are 195 payments left of $1791.08 a month.The interest rate is 6%. Each of the 45 payments has been on time. There are no other liens on the building. The owner of the building is Paul Rooy, a Daytona Beach attorney.who has been in town for 20 years..he owns it in the corporate name of Rofine,Inc..and he has a female partner Mary Lightfine of Daytona Beach who owns 20% of the corporation. The building is presently worth $358,691 according to the 2007 Vollosia County Tax Appraiser's Office.. Call any Daytona Beach Realtor to verify the value and condition of the building.If the owners sell the buiding the mortgage is due upon sale and you will make a $50,000 "Windfall" You can buy this 1st mortgage for $175,000.00 net to me at closing which is a 20 % discount of $50,000.00. Closing MUST take place tby August 31,2008. This deal will not last long! Call Larry Mark Polsky,Esq. at (979) 830-5039 Fax 979-8301349
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