I think its a deal but I might be short on my Rehab numbers because I'm doing some of the work. And from the pic i don't think it need a lot of work and I got the comp from previous sold house around the areas. I'm going to check out the house with my agent tomorrow, then I'll call my in-law contractor to check it out and give me the right number. After that .. well that's the hard part. I need to go out and look for private lender, I have couple of friends that said they will lend me money to do this but I don't think it will add up to 230k. Wish me luck guys. If you think this is a bad deal, let me know n tell me why. I love to hear other people opinions.
@Youdo Thirakul , please check the roof, and also try to go and see the properties available in the same subdivision, if you are flipping the property you better offer better look than your competition, the Automated Valuation Model (AVM) on RPR is $244,000, we always budget 90 days from the time we buy it and the time we sell it,
@Youdo Thirakul , please check the roof, and also try to go and see the properties available in the same subdivision, if you are flipping the property you better offer better look than your competition, the Automated Valuation Model (AVM) on RPR is $244,000, we always budget 90 days from the time we buy it and the time we sell it,
@Carlos Zapata thank you for the information. I will add the roof into my budget as well just in case and i think 90 days is a good number, it should take a little over a month for the rehab and the average DOM in the area is 30 days. Again thank you. Hopefully i can get this place for a good, I'm still concern why its price so low when house in the area is going for 300k, i'll need to look into that more
@Carlos Zapata I do, he's going to show me the place today/tomorrow, we ran the comp together and came up around 300k. I'm still looking at other places. Just posted an add to buy house on CL and there's a house on CL i want to take a look at as well.
great, normally we are conservative about price, on my first deals I used the highest but now we use the average, just remember maybe the DOM is 30 but if you are closing with an FHA buyer, closing will be from 30 to 45 days from the time to contract