Wholesaler · Redding, CA · Member since 2015 · 218 posts · 27 votes
How's it going everyone!
I have a seller whos 24 who needs to sell two of his inherited properties that are in foreclosure and wants out
1 property is a 2/2 1100sqft house backs up to a creek
is a fixer-upper and needs a driveway down to the house
Default around $130k
repairs $20-$30k
ARV around $160-$170k
area: C
rents in area $1000-$1200
2nd property is a 2/2 1000sqft with 1.6 acres
is also a fixer-upper
owner passed two years ago and has plans that are approved for I guess 24 lots to be split up to develop on in the back. Neighbors also would be interested in selling part of their land as well to develop on. Also has a company ready to go do come clear and flatten the property.
default amount $130k
repairs $25-$30k
ARV $200-$205k
Area : C+
rents in area $1000-$1200
trying to think of a solution for him or what strategy would work best!
Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
6y
I would talk to local developers about property number 2 as the potential development opportunity here is what may have sufficient value to entice someone into a potential deal.