From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1517 topics, 14413 posts — Last Post 04/20/14, 08:49AM

BiggerPockets Exclusive PRO Area

118 topics, 840 posts — Last Post 04/20/14, 08:09AM

New Member Introductions

10897 topics, 85724 posts — Last Post 04/20/14, 08:46AM

Real Estate Success Stories

396 topics, 6161 posts — Last Post 04/19/14, 05:20PM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5945 topics, 46850 posts — Last Post 04/20/14, 08:53AM

Renters

643 topics, 5818 posts — Last Post 04/20/14, 08:34AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

657 topics, 6279 posts — Last Post 04/20/14, 08:41AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3682 topics, 29532 posts — Last Post 04/20/14, 08:47AM

Real Estate Guru, Book & Course Reviews and Discussions

1134 topics, 11564 posts — Last Post 04/20/14, 08:34AM

Ask About A Real Estate Company

741 topics, 7323 posts — Last Post 04/19/14, 10:36PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5606 topics, 43759 posts — Last Post 04/20/14, 08:13AM

Rehabbing and House Flipping

3333 topics, 31004 posts — Last Post 04/20/14, 08:21AM

Real Estate Development & New Home Construction

553 topics, 4685 posts — Last Post 04/19/14, 06:13PM

Innovative Strategies

704 topics, 6030 posts — Last Post 04/20/14, 08:37AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

866 topics, 6678 posts — Last Post 04/19/14, 06:06AM

Rent to Own a.k.a. Lease Purchase, Lease Options

693 topics, 4902 posts — Last Post 04/19/14, 04:53PM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1687 topics, 11292 posts — Last Post 04/20/14, 12:14AM

HUD, VA, and Tax Sales

415 topics, 3097 posts — Last Post 04/19/14, 10:19PM

REOs

1214 topics, 10578 posts — Last Post 04/20/14, 12:34AM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7209 topics, 70790 posts — Last Post 04/20/14, 08:15AM

Mobile Homes & Mobile Home Park Investing

638 topics, 5141 posts — Last Post 04/19/14, 09:49AM

Investor Basics

Starting Out

7709 topics, 60506 posts — Last Post 04/20/14, 08:51AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4718 topics, 37215 posts — Last Post 04/20/14, 04:23AM

Real Estate Investor Marketing

1731 topics, 14094 posts — Last Post 04/19/14, 06:39AM

Commercial Real Estate

Commercial Real Estate Investing Forum

1410 topics, 8994 posts — Last Post 04/19/14, 04:34PM

Multi-Family and Apartment Investing

1109 topics, 9239 posts — Last Post 04/19/14, 07:12PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

641 topics, 4897 posts — Last Post 04/20/14, 08:43AM

Business Basics

Goals, Business Plans & Entities

831 topics, 7562 posts — Last Post 04/18/14, 04:25PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2788 topics, 20028 posts — Last Post 04/20/14, 08:07AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2732 posts — Last Post 04/19/14, 06:57PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2836 topics, 19712 posts — Last Post 04/20/14, 08:26AM

Creative Real Estate Financing

1210 topics, 8772 posts — Last Post 04/20/14, 06:59AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1211 topics, 7996 posts — Last Post 04/20/14, 08:50AM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1922 posts — Last Post 04/20/14, 07:09AM

Contractors

270 topics, 1682 posts — Last Post 04/20/14, 07:35AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1991 topics, 11617 posts — Last Post 04/20/14, 08:45AM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 429 posts — Last Post 04/20/14, 08:33AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15023 topics, 53966 posts — Last Post 04/20/14, 08:25AM

Real Estate Events and Happenings

164 topics, 2517 posts — Last Post 04/20/14, 08:35AM

Off-Topic

Off Topic

Off-Topic

2905 topics, 32411 posts — Last Post 04/19/14, 08:03AM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Forums » Real Estate Marketplace » Seeking 30 to 35k to close ASAP

Seeking 30 to 35k to close ASAP

9 posts by 6 users

Signup

· Cordova, Tennessee


- Have Condo Germantown (Memphis, TN) under contract for 52k
- Seeking 30-35k to close ASAP
- Open to private lenders who will lend in TN
-Please reply with rates and terms



Real Estate Investor · Louisville, Colorado


Dexter,

Do you have a recent appraisal or broker price opinion?



· Cordova, Tennessee


2012Appraisal and Assessment Information
Class: RESIDENTIAL
Land Appraisal: $ 6,600
Building Appraisal: $ 69,900
Total Appraisal: $ 76,500

Total Assessment: $ 19,125

Per Shelby County, TN

Thanks for your question, Be glad to answer any additional



Real Estate Lender · Chicago, Illinois


Dexter,
County tax records are not accurate for property valuation. You will need to provide comps and actual sales data.



· Cordova, Tennessee


Ok, I will get to work on actual sales data. How old is acceptable?



Real Estate Investor · Ellicott City, Maryland


Originally posted by Dexter Dockery:
Ok, I will get to work on actual sales data. How old is acceptable?

If you have to ask that question, I'd recommend finding a good agent that knows the local market and ask for a CMA or BPO. That should provide the comps you need...


Small_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Telephone: 770-906-6358
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


· Cordova, Tennessee


Have 2012 Comps in PDF file if anyone would like to take a look



Wholesaler · Valley City, Ohio


Dexter,
You can get an actual appraisal for about 300 bucks.
If you choose to comp yourself, you should not go back more than 6 months or should not go further than half of a mile away. Make sure to consider amount of beds and baths, foundation type, garage, sq ft, etc...
If the property is on a main street vs. a side street, the value will take a hit.
In short, a local realtor can get you a BPO (brokers price opinion) for about 75 bucks.
I would be very cautious of zillow and sites like that for accuracy.

Finally, If you are going to borrow, you will have a much easier time if you have some skin in the game. So make sure you offer to have 10% or so into the deal and be at no more than 50% LTV to give a nice security.
Good luck!!!



Rehabber · Santa Clarita, California


Dexter, I hope you take the comments in this thread as a learning experience for yourself. You started off fine, then when you asked that certain question, it was crystal clear how much of a beginner you are. NOT to say that is bad (we all started as beginners at one point), but if you are going to ask for money, you NEED to do it AFTER you are fully prepared and that requires getting fully educated first, then go get that deal and ask for money.
Better yet, don't ask for money, offer an opportunity.


Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]
Website: http://www.barnardenterprises.com
http://www.InvestorExperts.com




Sign up