http://grandrapids.craigslist.org/rfs/647600250.html
Looks like a decent price. My plan would be to get an option on it. Then do a 7 day sale auction.
Zillow Estimate was $117,500
Asking Price: $99,900
I calculated my Maximum Allowable Offer to be $85,450. Assuming the zillow estimate is close. The Fast sale value is $95,450. I want to make $10,000 on the deal.
That is my post. Now let’s fix the post.
What details am I missing? What facts am I not considering about the deal. The obvious one is I need to know what equity the owner has. See what kind of things I can do with that. If they owe $60,000 or something this is a completely different deal then if they owe $95,000.
Noone answered the phone when I called so I’ve only been able to get the information in the craigslist ad as of now. What else do I need to figure out to find out if this is a potential go ahead deal?