I put a few ads on Craigslist…Trying to attract buyers and sellers…
I got a call from someone saying he wants to sell… motivation: relocate
Details:
3br/2ba 2100 sq ft… repairs have been made
$ 665.00 mo. rental/occupied
Comps from the Oct 08 : 65k-110k (source : yahoo ?)
Owner wants 39k…
I researched county auditor and home was sold in May 08 for 15k
Any suggestions for next move on my part…I will see him saturday to look at property inside and out…
Hoggy
based on your number it appears to be a decent deal. The fact that it sold for a low price in May is irrelevant, especially if he did a good rehab. BTW, don’t make a big deal over what another investor makes; if the deal gives you want you want, when you want it, does the other guys profit really matter? No.
Make sure that you pull your own comps and do a thorough inspection. There should be a property inspection form on this site for you to use (pm me if you need one). Pull comps from a source like realtor.com or ask a realtor to pull a cma for you.
Good luck and dont pay more than the MAO or you’ll be sorry…
The plot thickens…Discovered this morning property has gone REO…?
I was thinking this morning of subscribing to " RealtyTrac or Real Quest Pro "…anyone with any
thoughts on these sites?
They’re ok, but expensive. A cheaper way to go is to become friendly with a realtor that will pull comps for you. Don’t mention that you’re not going to buy thru them
Make friends with a good REO agent it’s easier than you think. Send a deal their way every now and then and you’ll be fine. Get realtor to run comps but you should get in the habit of doing it yourself. Good Luck
Thanks for advice