Charlotte, NC · Member since 2020 · 7 posts · 0 votes
Looking to put an offer on a SFR that needs some repairs to it. However, the sellers aren't showing the home to anyone. Advise on what to do in this situation? Selling price is 80k, 2 bed, 1 bath, 1300 sq ft.
Located in a great neighborhood with similar houses in the area being valued at $140-$150. Possibility to add a 3rd bedroom is high.
Rental Property Investor · Concord, NC · Member since 2016 · 1k+ posts · 3k+ votes
6y
I've bought 12 or so SFHs w/o seeing the inside. I think most were auctions and one was MLS. Run the numbers - purchase, rehab, ARV, rent, etc. lean towards worst case and make your offer. Using the the MLS and waking through properties is lower risk, lower reward. Buying a property without seeing the inside is higher risk, higher reward. Going into a house you bought w/o seeing the inside is a fun drug. You may even find an open floor plan and hidden hard wood floors lol.
Rental Property Investor · Concord, NC · Member since 2016 · 1k+ posts · 3k+ votes
6y
I've bought 12 or so SFHs w/o seeing the inside. I think most were auctions and one was MLS. Run the numbers - purchase, rehab, ARV, rent, etc. lean towards worst case and make your offer. Using the the MLS and waking through properties is lower risk, lower reward. Buying a property without seeing the inside is higher risk, higher reward. Going into a house you bought w/o seeing the inside is a fun drug. You may even find an open floor plan and hidden hard wood floors lol.
Rental Property Investor · Glen Mills, PA · Member since 2012 · 87 posts · 56 votes
6y
Submit your offer at the price point that provides some wiggle room for you, but with multiple offers in, it is going to be bid upwards even if the interior is in fair condition.If the neighborhood is as good as you say it is. Just throw in an inspection contingency.