All Forum Posts by: Al Sousa

sorry fairly new to investing

Welcome we are almost neighbors I am fairly and from Hudson Ma

thank you
I hope so waiting for answer

I did an offer , where the property asking price is $174,900.000 needs about $70k the ARV according to MLS comps is $335,000.00
I offered $129,850.00 no inspections or contingencies and closing in 30 days or less.
Also this is private money at 8% 2 points

Thank you
To everyone that has contributed.
Happy Easter
Al

yes we are all cash.
will try to cut down the closing days and see.
Ty

Yes agree
I am doing offer all cash 30 days or less to close no contingencies, or inspections.

thank you
No still using the 70% rule but not getting any offer excepted out of 30 not one ,
that is why I am trying to see if there is or anyone has ideas.

This is what I read or sent to me

Mar 21, 11:39 AM Vote
Maybe try using a different formula to determine your offer price. The 65% rule just doesnt cut it anymore. I take the ARV and multiply it by .94(this covers closing costs, commissions, and a little bit extra) then subtract your rehab costs and holding costs, and profit, and you have a more competitive offer. I was using the 65% rule before I applied the above formula and I would say 50% more offers of mine are getting accepted.

I got it from here