Updated about 10 years ago on . Most recent reply
Wholesale advice
I have ran into two properties today from a direct mail campaign in the Phoenixville and Boyertown areas.
The first one is in Phoenixville. It is a Two unit with a 3br 1.5ba main house that is 1000sq. ft. that is partially finished with the full bath on the main floor and half upstairs. Another thing is that the bedrooms are all small. I would actually classify it a 2br with a small office. The second unit is a 1br that is roughly 650sq ft. and is above a 2car garage.
I have went to look at the property today and decided to not give an offer because my numbers were based on the info I have gathered off zillow, redfin, and other sites that states nothing of the partial rehab to the main house, and the full garage/apartment and driveway addition that has been done. I am able to find comps for the main house, but don't know what to add on for the additional garage that has been built on the lot. Any thoughts on what a new construction of a 3 car garage with 1br above would cost so I can figure out what to add on to my offer.
The second property in Boyertown needs a nice bit of work, but the main problem is that the septic system is failing. I feel that should take a substantial amount off of the offering price due to the septic systems condition.