All Forum Posts by: Bara Nwokoma

Awesome! 

@Bruce Lynn sent you a message 

@Neil Aggarwal im with you on this. I’m leaning towards passing on this one. My gut is saying “don’t even pass GO.” 

@James H. 1st time seeing that rental evaluation. Thanks for that! 

@Bruce Lynn thanks for extending your hand. What type of investments are you into? 

The deals I have completed I have always had solid comps to easily determine ARV.

Now I have stumbled upon a property and I am having the hardest time determining the ARV.

What do you all do when you don't have solid comps to determine ARV?

1937 build

3/1 with a potential to be a 3/1.5

1839 sq ft

Brick

Property is located by Park Row Ave and South Blvd in Dallas. Historic area. 

Affinity Title is very investor friendly

ARV: 130,000

Repairs:8k

Asking: 94,000 OR BEST OFFER

How to Access Property:

Owner Occupied- Do Not disturb occupants-They are moving out- There is a group tour scheduled for tomorrow. 8/15/2017

About Property

This is a 3 bedroom, 1 bathroom house that is located in the Doris Heights neighborhood. House was built in 1955 and is 890 square feet Huge backyard! House has huge potential for a great rental Looking to CLOSE this in 2 weeks! - Tax Value: $86,930 - Estimated ARV: $130,000 - Estimated Rent: $1300-1500

About Repairs

Light cosmetics(rental) Foundation( saw cracks on floor & sheetrock in kitchen area) Roof & HVAC are in good condition

Miscellaneous

- There is a showing scheduled on Tuesday @10am. It will be a group tour, we will sell it, right then & there, to whomever gives the best offer 

*5k non-refundable earnest money deposit Cash or cash equivalent funds only. Buyer pays all standard closing costs

Link to pictures:

https://drive.google.com/open?id=0B53kausxT16OWjhpVmxTMWkxUkU

@Nathan Turner that's an excellent way to look at it. I like that. 

@Roy Oliphant thank you for your honest words! I'm really back & forth about it!  

 I recently( last week) went through a terrible eviction and it turned me off. I know I am speaking from that aspect. If I had a 3rd party management company that would alleviate ALOT of things on my end.  Also, I have created notes but not for residential properties.  I enjoyed the aspect of collecting without worrying about anything on my end. 

Also, what repairs are recoverable at redemption?