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Foreclosure.com 2013 Scholarship Topic

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Scholarship Essay:

Below are two potential real estate investments. You've got the cash ($125,500) to purchase the one that will achieve the most desirable profit, whether it is a buy, hold or flip strategy over the short- and/or long-term. Please select a property, provide reasons that support the decision, detail your investment strategy, describe all that you would do (improvements, rehab, etc.) and how it would impact your potential bottom line.

Property A:

Price:$125,500
Location:Chapel Hill, North Carolina
Bedrooms:3
Bathrooms:2
Property Type:Single-family
Square Feet:1,700
Description:Great centrally-located starter home located in desirable neighborhood, which was recently ranked in the Top 10 "Best Places To Live" in "Money" magazine. It needs some TLC, with outdated appliances, cosmetic changes and other upgrades required. Nearby schools are among the best and crime is virtually non-existent in this friendly suburban area. Perfect for a growing family looking to get in on the bottom floor with an amazing property that has tremendous profit potential or investor looking for an easy flip.

Property B:

Price:$125,500
Location:Stockton, California
Bedrooms:3
Bathrooms:2
Property Type:Single-family
Square Feet:1,700
Description:Completely re-done, move-in ready property that has been completely overhauled. Top-of-the-line kitchen and appliances, new windows, crown mouldings throughout, lush landscaping and other cosmetic upgrades that must be seen to be believed. Owner spared no expense to make this turnkey property the prettiest on the block -- it will not last long!