All Forum Posts by: Brittany Sanders
Brittany Sanders has started 2 posts and replied 13 times.
Post: Buying a Tax property
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Hello all, I am buying a tax property apartment complex. It is 10 units that need to be renovated. They consist of 2-bed 1-bath (each unit) it is pretty much a re-do. The tax property amount is $6000 for the entire property and rehab is about $40-$50,000. The rent nearby is $600-$650 a unit for 2-bed/1-bath. Its in a rough area however, the area is up and coming. I am wondering If I am missing something. Does this sound like a good deal? Should I be asking more questions? It feels good in my gut to do but then again i'm tired of delaying deals. Any good advice will help!
Post: $1,300,000 Deal at Age 21 & I'm Retired!
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Congrats how inspirational.
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Originally posted by @Melvin Music:
Make sure whatever caused the mold is determined and addressed. If you have polybutylene piping it could cost a lot more to re pipe the home and that should help you to negotiate a further reduction in price. Also, make sure all the electrical was not damaged from the flood assuming there was one. Way to go big!
Okay Thank you.
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Originally posted by @Christopher Phillips:
Brittany Sanders
Is this mold from flooding, roof leak, or poor ventilation?
If from flooding, remediation isn't the only problem if they have to tear out Sheetrock and wiring and damaged appliances...
I will know for sure Monday I have a couple of companies to come over and check to see where and how much to have it removed and whatever the price amount is to have it fixed I plan to deduct from the purchase price
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Originally posted by @Thomas S.:
You need to knock at least 20K off the purchase price to cover any overages and make the risk worth your time.
Okay thank you I plan to go as low as $58,000
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Originally posted by @Jedd Braunwarth:
Yes it does. The house has been on the market since 2016 so I believe I can get it for about $58,000 or lower after showing them the problems it would take for me to fix up the property. That is for 4 bed comps and most of the comps (are not as renovated as in the whole house). I have a FHA 203k loan and 3% to agent.
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Originally posted by @Eric C.:
You are missing transaction fees on the sell.
You mean the 3% to the Agent?
Post: Good Investment or not ?
- Investor
- Harvest, AL
- Posts 13
- Votes 0
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Post: Biggest Fear for Newbies
- Investor
- Harvest, AL
- Posts 13
- Votes 0
I am a newbie and I am currently working on my first deal I am scared to get taken advantage of because I am a woman. I am scared in general to loose everything. I am going to follow out and try and get the best team I can stay strict but not over bearing, While in sales I have picked up a couple of strategies that will work in my favor. I just have to try because it is something I have be wanting for a long time.
Post: My first deal... finally
- Investor
- Harvest, AL
- Posts 13
- Votes 0
Looks great!