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Updated about 18 years ago on . Most recent reply

User Stats

42
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0
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Anthony B.
  • Real Estate Investor
  • San Diego, CA
0
Votes |
42
Posts

Found a garbage property to wholesale

Anthony B.
  • Real Estate Investor
  • San Diego, CA
Posted

I found a garbage house in what is a decent neighborhood. The surrounding properties are not perfect, but farrrrr better looking than this gem. Property is vacant, the listing agent's cellphone is turn off or something, and his voicemail box is full....How else do I send an offer to the owner, find my own agent to help me? I never thought I would be so excited about ugly houses =] I'm going to a real estate networking event this wednesday to build a list of investors. This would be my first property I will be sending an offer to. From what I understand, I make my offer at 65% of ARV, correct? So if the ARV is 420,000 I would offer 273,000? Are there any instances where I would offer a higher price? $147,000 is a large margin... As for as my assignment fee, what number do I base the fee off of - the ARV? If anyone would chime in, I appreciate it.

I found some interesting info on it so far. (seriously this house is ugly)

Property:
San Diego, CA
Last sold March 1st, 2007 - $390,000
Listed July 19th, 2007 - 359,000

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