Possible first deal...unsure if I should do it?
Hello EVERYONE! :-)
I'm Henrietta and for the last 3 months or so, I've been studying wholesaling investing and contacts. I actually prematurely approached a seller a few weeks ago, with a offer. I was nervous and obviously not knowledge enough. She went with an established group of investors.
I need a competitive edge. When I first started studying real estate investing. I came across a double Decker deal. It's two homes right next to eachother. I nervously called the owner. This was before I knew anything about wholesaling or real estate. I didn't even know it was possible to contract homes with no credit, no money and receive all cash offers. In fact, when the guy told me that he only wanted cash. I laughed at him and said, "who has cash line that?!"
Needless to say, I'm embarrassed now. Anyways, I happened to drive by the properties today. They're still for sale!! They are quite a ways a way from me. Anyways here is what I know about them so far:
1st-4 bed 2 bth/ finished basement//attached garage/ full yard/
A.P.-$166,250 & $144,440 or both houses for $245,600
A.R.V.-$211,250 & $189,440
The owner told me he almost had a buyer but the buyer backed out. At the end of the call he said he only wants me to make an offer if I take both. I am still unclear if he won't let me offer on one. WHAT DO YOU SEASONED EXPERIENCED INVESTORS THINK? Should I wait & learn more about contracts etc.? Or should I go for it??? HELP PLEASE :-)