Posted by Jon Zorrer on November 01, 2009 at 12:21:16:
In Reply to: What To Do? posted by Kat on October 31, 2009 at 03:06:41:
It is great to have a guess of what the property is worth but you def need to confirm this and get an estimate done right away. IF the condo is worth 138k I would start at 89700 and that is only if there are no repairs to be completed. I doubt that if it is listed for 91k and ARV comps are 138K so you will have to minus out your repairs and any other cost. If you are brand new I suggest you do not rehab this yourself! Wholesale the deal. In which case you are going to need to subtract your profit as well from your offer.
I suggest you also start looking for a mentor. Or at least purchase a home study course. There is a lot of great info on this forum but if you want to do this biz for real you need a mentor or a system that you can follow. Hope this helps.
Jon Zorrer
jz@reitvshow.com
http://reitvshow.com
- Re: What To Do? bob davis 22:00:25 11/01/09 (1)
- Re: What To Do? Jon Zorrer 22:33:42 11/01/09 (0)