Updated almost 9 years ago on . Most recent reply
foreclosure purchase question
hello all
i have a question. SO my realtor sent out a listing for a foreclosure that is not listed on the MLS. not asking price is 310k assessed by the county its $295k. now do you think its smart to purchase lets say at $280 or lower the doing 0 repairs and tunring around and putting on MLS and making between 10-40k spread. issue is property needs about 100k in repairs. its in a A area. ARV is 550k+
i don't have the funds for repairs and all but wouldn't mind making a little something on the property
thoughts?
Most Popular Reply
Your welcome. One thing I would agree with John to limit your risk to zero by getting the property under control via sales contract then wholesale, The downside of this is In my experience most banks or corporate owned properties will not allow any sort of assignment so i dont know how you would structure the deal.