Let me make shure I got this Right
OK, last week I found a house that looked good, but was listed as " Non-Profit", so I could not bid.
This week it goes to " Owner Occupant" so I could bid, ( as an Invester)
but if somone that wanted to live in the house , bid lower ,would still get the house.
Next week ,or so it should go to " any and all bids" if it were still avalable.
and the highest bidder would get the house as long as the bid was high enough for them to accept it. correct ?
In your area , how many homes that DONT require lots of repair , i.e. say 10% of the listing price to put it on the market make it that far ?
My example is this one.
List price is say $95,000 with comps would be $145,000
and after reading the property report and looking at all the pics ( no I havent done my own yet , but i would befor i bid ) To do a complete Update, no granite, but but nice and eqeal or better than those in the area would be $10,000, most likley less. one thing i didnt like was There is one layer of asphalt shingles over one layer of wood shake shingles,
, with that said , the roof still looks good.
One reason I like THIS house is its only a few miles from my house and I would be doing most all the work, and the numbers do look good to me!
what do you think ?
Thanks in Advance
Mark