Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Texas Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

39
Posts
11
Votes
Jenny D.
  • Rental Property Investor
  • Austin, TX
11
Votes |
39
Posts

A Deal ~ Seeking Feedback & Input

Jenny D.
  • Rental Property Investor
  • Austin, TX
Posted

Hi BP Community,

I'm in the learning mode and seeking thoughts, questions, or feedback on a potential wholesale deal that I've identified.

Location: Belton, TX

SFH 3bd 2ba 1848 sqft The house is paid off. Vacant. Not on the market. Has rented to college students for $900 per month.

ARV estimate : $110,000 (no comps in the area for 12+ months)

Repair estimate: $18,000

Tax Assessed Value: $82,400

I'm planning to get the property under contract for $12,000. 

What am I missing? What would a potential buyer want to know?

Thanks in advance for your feedback.

Jenny

  • Jenny D.
  • Most Popular Reply

    User Stats

    107
    Posts
    60
    Votes
    Khanesia Washington
    • Real Estate Agent
    • Arlington, TX
    60
    Votes |
    107
    Posts
    Khanesia Washington
    • Real Estate Agent
    • Arlington, TX
    Replied

    Why not purchase at or below list price of $12k. I would suggest having an agent in the area to provide rental and sales data. There may not really be a demand in the area for no comps in last 12 months. Although that does not mean this property is not a good investment. I would do due dilligence and canvas neighborhood if it is an area that you are not familiar with. Also if you do purchase and renovate think about alternative rental housing. 

    Loading replies...