Week In Review

I made an offer on the bungalow propety I looked at on 6-15-09. The offer was not accepted. The seller had two other offers in from neighbors that were higher. The seller says he is willing to hold on to the property for at least 6 months to get a higher price. I will be checking back in with him further down the road.

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Another wholesaler had contacted me and asked me to help her find a buyer. I got the comps and ran the numbers and the ARV value was around 80% before repairs and my fee. I contacted the wholesaler and let her know that my buyers are looking for properties at a bigger discount. I would like to thank Stephani Davis, James Hiddle, and Nick Johnson for helping me out with this. I am better prepared for any future joint venture deals because of it.

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I got another response from a probate mailer. The seller lives out of state and will be coming to NJ around July 21st. She says she's looking for a quick sale. She has gotten an appraisal and would like to hear my offer before commenting on what it is. On a previous deal I looked at (that needed a ton of repairs), the seller was given an "as-is" appraisal of almost the same price as the comps I got for what the house would be worth after being fixed up.

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To Do:

-I need to get the remaining probate leads I have transferred to personal letters and mailed out.

-Repost ads on Craigs List