Green Acres Case Study - Vacant Reverse Mortgage

Hey Note Closers! Scott Carson here, taking you on a real-world adventure to analyze a potential reverse mortgage deal in Georgetown, Texas. This isn't just about numbers; it's about getting boots on the ground and seeing the property firsthand.

The "Green Acres" Deal:

This case study focuses on a reverse mortgage located on Green Acres Drive in Georgetown, TX. The property is a three-bedroom, two-bath home on a third of an acre. The borrower has passed away, and the note is now available for purchase.

Key Aspects Covered:

• On-Site Due Diligence: I share my experience of driving to the property and conducting a walkthrough. This includes assessing the neighborhood, the condition of the property, and any potential red flags.
• Property Condition Assessment: We discuss the condition of the property, including the need for a new roof, sheetrock repairs, and general updates.
• Market Analysis: I compare the property to nearby comps and discuss the challenges of valuing properties in rural areas with limited zoning.
• Reverse Mortgage Considerations: We explore the unique aspects of reverse mortgages, including the foreclosure process and potential exit strategies.
• The Decision: Based on the on-site assessment and market analysis, I share my decision on whether or not to pursue this deal.

Why This Matters:

This episode emphasizes the importance of going beyond the numbers and conducting thorough on-site due diligence. You'll learn how to assess the condition of a property, evaluate the surrounding neighborhood, and identify potential challenges that could impact your investment.

Watch the original Walk Through Video HERE!

Watch the original Video Episode HERE!

Book a call with SCOTT HERE!

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