Lead For Des Moines Investor
i have a lead on a house in des moines. i am bird dogging and i live in atlanta.
the owner is not living in the house and wants it sold now!
specs:
2b/1b, 1015sq. ft., built 1915, 1st mortage 110,800, bought 115k in 2003, piti 913, near a drake univserity
does anyone know of an investor? please have them e-mail me. thanks!
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[addsig]
the price you should offer depends on a lot on things. for example, how if the real estate market in the city where the property is. Is it "hot"?, do you have a lot of investor looking for their next deal?
if so, then offer full price after making sure that the repairs will not cost you more than 25k. 69 k + 25 k, when you factor in any possible surprise ( overbudget) you should have a small margin of profit left.
if the area is not hot, then offer a little less ie 60 or 65K.
dont try to be too greedy for your first few deals. 10-15 k profits in the bank is better than a potential 40-50 k profit on paper...
bump...anyone else for input? thanks