Brand New REO Investor
I'm searching my first potential REO deal and have 2 questions--hope you guys can help me.
1. What is the best strategy for finding a reputable rehabber to provide quotes when I am scouting properties? Do they usually charge for this service?
2. My first property appears to be a diamond in the rough, but has a pool--Any thoughts on liability issues with pools?
In case you are curious, here are the numbers:
3/2, 2 living areas, 2 car garage - 1869sqft
Nice family suburb
ARV: $150K (CMA)
List Price: $117K
Repairs: $20K (conservative guess, but needs new carpet and paint, new fence, minor roof repairs, landscape trimming of trees/bushes, pool water was green--Eww!, and back glass door busted from a possible burglary)
Potential 1st offer: $90K
Please feel free to tear this apart--I'm so green, you could mistake me for a leprechaun.....but I'm ready to start doing BUSINESS!!