Is there money to be made in these deals?

General Real Estate Investing
1

paid 125,000 glen in 2004 2005 128,000
Hello

I recently attended a seminar and the speaker was a investor named Reggie Brooks. His investment strategy is find abandon properties buy, do a cheap rehab and sell. Then i began searching for abandon properties i found 2 abandon properties in good condition.

So i did some comps of the neighborhoods coming back at 98,000-127,000 and the other one 110,000-137,000. The first house was bought in 2004 for 125,000 and the second home was bought in 2005 for 128,000.

The houses in not nearly worth that in the condition they are in right now and since it been purchased recently im assuming they still owe a significant amout on the house.

So is there a deal to be made on these properties?

2

I’m familiar w/ Reggie. His methods are sound, but there’s a lot more research to go. For starters, you have to find out if there are any liens on the properties, and you have to find the owners and see if there’s a deal there.

3

Yeah it is kinda hard to tell without knowing what the seller wants for them!

4

You also need to narrow your comps down and get a more specific value.