Ok, so this will be my first-ever appointment to meet with seller. What to expect? What/who to bring? Do I have to determine the repair cost on my first visit? ANY TIPS?
Be prepared, check all the comps in the area. Get there early and drive the area, drive past the recent comps you saw to check them out. Have an idea of what you need to have it under contract at to make it a deal. If you leave you give someone else the chance to come in.
Tell me how it goes!
Mark Harris What do you mean when you stated "have an idea of what you need to have it under?
@Brandon Ray You need to know what is the number you need to buy it at to make it a deal....
@Brandon Ray Do your research and DD before you ever get on-site. Have a solid idea of what you expect the ARV to be so you can be realistic and firm on your numbers with them. You don't need to know super exact rehab numbers, but you'll definitely need to know a ballpark figure after walking through it. Then you'll be able to calculate that into your offer.
Don't make the mistake of under-estimating repairs. If something major is needed, leave yourself some wiggle room and don't get one pulled over on you! It's a good idea to take a notebook with you with a rough idea of what major things cost so you can just add it all together at the end of your walk-through.