Would any of you consider putting this deal under contract or refer to a buyer to earn the BAC (considering I don't presently have one at the moment and time is of the essence)??
Okay I have previous client, new to Dallas-Fort Worth who came to me a week or so ago for some help finding a deal for a cash investor they have worked with in Tulsa. Long story short I've spent a good week doing a bird-dogging job for her unearthing a few worthwhile gems for her investor. Here are the details:I found her a REO: 5bed 4 bed, 4134 sqft house with pool and 4 car garage. The property was listed at $236k, has an ARV of $360-400k. Now, the property is completely renovated with high specification upgrades in kitchen and bathrooms but has interior foundation damage and of course extensive underlying foundation damage. I have spoken with a foundation contractor that can repair the damage, install the necessary beams and drainage for the garage extension. The estimate is $33k. Well, since the cash-investor has proven to be defunct (long story) and their initial $190k offer was rejected, the LA informed me today the property has been reduced to $180k. Nearly 50% of ARV.
Now that i've run the comps on the property, taken a thorough inspection of the property, established a solid retail value and obtained a foundation repair survey and generally spent precious and valuable time doing the due diligence on this deal, it is ripe for the taking. I too, am very very regrettably not presently in the right financial shape to take the deal myself and so putting it out there to the wider BP community I'm open to acting as a buyers agent on this deal. It's a painfully delicious deal to see go but if anyone is interested and looking for a buyer's agent, give me a holler via PM or message board.
Feel free to email me to request CMA and other verifiable figures.
