So I found this property on Craigslist...
I have a house in Geneva NY valued at $170,000 by Homesnap. The average home price in the zip code is $161,000 and it's right on the Lake so it's obviously in a good area. It's a 2 story 4 bedroom single with over 2000 square of living space in good condition. I owe about $80,000 taxes on it, and I need to sell it fast, and I'd like to get what I can for it in cash.
Geneva NY is a beautiful town and has got Hobart and William Smith and other colleges. But I don't know how many Syracuse cash investors like to buy outside the City. If you're open to it, or know someone who is, please let me know fast. Thanks.
It sounds like this guy is in a bind and if he truly is... how I could wholesale this?? Meaning... I don't know any investors in this area to wholesale too. And I'm assuming (which might make me wrong), investors would already be looking on Craigslist for properties like this. Is it safe to assume to run the numbers for AFV, minus the taxes and repairs and get it under contract for that price if the seller agrees to it?? Please help!
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Not everyone uses craigslist though. You might pay a realtor to do a bpo and get lots of pics. Then get estimates.
I would start by launching your own investigation on the property - using the internet, public documents, as well as driving by the property to see it yourself.
Could be a great deal, or not, hard to say before you do your homework.
As far as marketing for wholesale, once you have the property under contract, you can use a bandit sign for marketing and just general networking with local REIA family/friends/peers/other current tenants/etc.
Sounds like a good opportunity. I'll spread the word. Thanks for posting.
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