This property is located near Buffalo, NY

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This property was purchased at Buffalo's annual Tax Foreclosure auction
on Oct 24th, 2007. The auction price was $3,600 with the option to
assign the purchase contract for $75. I put down 20% or $720 after
winning the bid, the remaining balance must be paid in full by Dec
16th. I will sell the contract for $3,000/firm. This property is
already occupied and can start generating rental income immediately
upon receiving the deed. The current occupant rented from the company
that was foreclosed on for $550/month as a section 8. Your total cost
will be $3,600(auction price) + $75(city assignment fee) + $500(closing
costs estimate) + $3,000(my assignment). At the most, your purchase
price would be $7,175 for a property assessed at $27,000. This property
would be perfect as a rental property for your portfolio. 
Richard L. Tandy II
Riverstone Realty LLC

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