Newby Investor
I am a newby investor and have an interest in purchasing a preforclosure property. The property is in a good area, but needs a lot of work. It has been vacant for two months. I want to make an offer but am not sure how high or low to go. Can someone please Help! :-?
Tonya[ Edited by tonyam on Date 09/19/2004 ]
Hello,
This is what we do.
We have a realtor who we use to sell the homes we rehab, but before we buy, we ask her for the comparables for the area.
Comparable are what house have sold for in a given number of months, how long they were on the market, number of bedrooms, baths, garage, lot size, etc.
Comparables is the information that we start with.
Thanks,
OnTheWater :-D