GOOD DEAL OR BAD DEAL????
i have a few question for you guys.....1) do investors buy from other investors? 2) i've located a property which as an appraised and market value of $47,300. The investor/owner wants to sell it for $59,900 rehabbed or says that he will deduct 20% from the purchase price if he sells "as is" (which comes out to about $47,920). He says that he's had a contractor to come out and give him an estimate of approximately $7,000 for repairs. Now here's the big question: Would an investor who buys houses "as is" and turns around and sells/lease options the properties out to tenant/buyers "as is" CONSIDER THIS A GOOD DEAL l if i sold him the contract for the $47,920? (And if i did sell the contract to him for this amount, i would have a good personal reason for doing so). 3) If i wanted to make some money off of this deal, how much could i "flip" this property for do you think?
I need answers to these questions like yesterday, PLEASE HELP ME SOMEBODY!!!!
yes, investors buy properties from investors all the time. Who else would you flip a junker to.
To answere your second question, this deal is paper thin, in fact, its not thin, its just not there. When you wholesale properties, you must buy CHEAP, DIRT CHEAP. You buy cheap because it has problems that the owners dont want to fix.
Your third question i cannot answere because i dont know the true morkaet value, but it sosunds like hes offering to sell the house to you at market value. We dont buy junkers at market value. Only pretty homes on TERMS will we pay market value.
Keep hunting,
Jason_VA
i sell to investors all the time. if u leave money on the table when you sell it, you'll have plenty of buyers.
Hello rbw4,
Biggerjay gave you the best advice, run away from this one don't walk. Do not look back.
ok guys, how about this one: owner needing to relocate quickly (within 30-60 days this makes me smile) has a mobile home, says it's valued at $45,000 and balance owed is $35,000.....will sell for what is owed...3/2, new appliances being left, in nice neighborhood, between 1150-1200 sf....will consider lease/option or other.....is the one i should jump on or also walk away from?.......as you guys can tell, i'm trying to figure out what's a good deal and what's not.....that's why i need you experts advice...and you guys that responded to my earlier posts.... LUNCH IS ON ME WHEN I CLOSE THAT FIRST "CREATIVE DEAL".....hehehe