Indianapolis, IN · Member since 2013 · 354 posts · 90 votes
13y
Brandon Turner Bryan H. Sorry about the XPS file... I couldn't figure out how to get my PDFs to allow hyperlinks.
I figured it out though: https://www.dropbox.com/s/819ob1s7n1xjp15/13006-P1%20718%20Gladstone%20Packet.pdf
Since I failed at giving you a good link I'll give you an exclusive sneak peak at the upcoming website. It's still a rough draft and the garage in the rendering will be attached.
The idea is to have the house look distressed with the meter displaying a low valuation and then the repairs start coming in and the meter goes up.
Indianapolis, IN · Member since 2013 · 354 posts · 90 votes
13y
Originally posted by Bryan H.:
What exactly is the ask? Is this a wholesale deal you are presenting? What is the ARV?
As a rehabber, I need to know your asking price, repair cost, ARV. I want to see comps and DOM. How many other homes are on the market in the area.
Links to schools, walk score, don't matter to me.
I'd suggest saving it as a PDF as Brandon Turner and other may not be able to open it.
The owner owes $29,700 and that's all he wants, but it's not worth that much.
This is my first potential wholesale deal. I don't know how much repairs are going to be on the house so I don't want to offer anything until I know what I can wholesale it for.
I took extra pictures and video so BPers can help with the rehab analysis haha
Here are the comps... I had to rush to get the packet out because of my anxiety: https://www.dropbox.com/s/o0psnzrg30kbc80/13006-CMA%20718%20Gladstone.pdf
I will put it into the packet!
There are probably 3-4 houses listed for SALE on that street. More are listed on parallel streets within 1/4mi.
This house has the potential to be a 3ba/1.5br. I was told it wouldn't be worth the rehab cost for the .5 bath.
You will find the drawing I made where I point out the space for the .5 bath and the extra room into 3rd bedroom.
DOM = ?
This property would be great as a rental. There are several houses in the area for rent and for sale.
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
13y
Hey Taylor Jennings - looks good! I like the photos on the page, and the details like "neighbors" and such. This is important. That said - if this is a packet you are going to give to potential cash buyers - they will care much more about the numbers than the facts about the house.
This is gonna sound terribly pitchy - but if I were you, I'd run this deal through the new BP Flipping Calculator and see how it looks there. Use the PDF as part of the packet, which shows a flipper what the potential is.
Also - I agree that having comps with the packet is important- but the list you have is difficult to comprehend. I don't have a great solution either, but I know it's important to show the potential cash buyer exactly what you want them to see. So perhaps what I would do is pick just three, very similar properties that have sold within 6 months and within half mile. Put them on a page with 3 columns (one for each column) and highlight just a few of the most important things (sq ft, bedrooms/bathrooms, price per sq ft, condition, selling price) so it's more clean and easy to see. Otherwise it just looks like a wall of text. This is going to be part of the new flipping calc, but i haven't designed it yet :)
Investor · Willow Spring, NC · Member since 2013 · 788 posts · 285 votes
13y
I wouldn't include all the comps in the listing packet. If you are going to hand this out at a REIA meeting, etc, keep it to 1 page. I would list the ARV range and if you get some interest, then you can provide comps.