Updated over 13 years ago on . Most recent reply
Help me analyze flip
Can you guys please tell me how much would YOU pay for this deal? REO property on the market for 180 days with no offers, asking price is 176K, ARV 225K, repairs around 25K.
I plan to hold it for around 90 days to do repairs and to meet seasoning reqs, and finance it thru a HELOC if it makes a difference. How much would YOU pay for it and how would you structure your offer to the bank so it has greater chances of acceptance? Thanks
Most Popular Reply
Yes, we care! As you are discovering...it can take a lot of offers to get the property that you can make the profit that you are looking for. I'd just let my 98K offer sit and make an offer on another property. You may have offers on lots of properties at one time before you get one that is accepted on your terms. If you don't get a response on the 98K offer in 10 - 14 days, re-submit it without an increase in price.
Good luck,
Bill