I think I found my first deal
Hello everyone,
I might need some help landing my first deal. After a few months searching online (part time) for my first new deal, I believe I have found it near the Riverside area. House is currently foreclosed at 233k, and houses on that neighborhood are selling between 302k-315k. I ran the numbers with the calculator found on the BP website, and I estimate the repairs to be 35k, closing costs 3k, holding costs 4.5k (3 months) and agent fee 9.5k. I have reached out to one of the realtors who sold my parents they're house and who we have kept a good relationship all these years with, to help me make an offer. Knowing this, would an offer of 212k be too low? Also, I have roughly around 15k, which means I would need about 25k more for a deposit. How can you guys help me land my first deal?! :) Please advise.