All Forum Posts by: Cynthia Hernandez

Thank you so much for your input. It helped a lot (:    @Tim Ehlers 

I pulled up comps, and i got around 158,000.. so thats what the house is worth right? And also what is due on sale clause???

@Brian Gibbons 

Hi, I'm a newbie to the real estate investing world and I would like to know what a subject to deal is and how to go through it? And what is it what I'm looking for? This lady wants to sell me her house for 100,00 but wants me to take over her mortgage and she owes 96,000 . I was planning on doing a wholesale with this property, but another investor advised me to a subject to instead. I don't want to waist time and go any further if I don't know what I'm doing here. So please can someone give me advice on how to do this step by step so I can continue with this quickly. Thanks, Cynthia.  

@michael Noto what is the right way to come up with the repair cost? 

okay well now im  just curious.. do i have the option in buying the property by Subject TO instead of wholesaling it??? if so, how does this method work? and would it be a good idea  to go that route? 

 @Christopher Salazar 

Thanks Christopher Salazar for your input.  but, now this lady called me and said she owes 96k on it and wants 100k... What should I do now??? I don't want to call her and sound stupid like I don't know what I'm doing.  

Hi, I need some help here with my first wholesale offer. Mind you, if I go through with this..it will be my first wholesale deal. So here's the thing.. This lady wants to sell her house for 100,000. I pulled up comps for it and I got between 134,000-161,000. I already did a walk through her house and it looks perfectly fine, it doesn't need much repairs. The only thing is that I don't know how come up with an offer yet. I have talked to an investor and he said I could do this method. Which is getting the ARV-repair cost - assignment fee= offer...so I got this 158,000x.70=110,600 then 1,675(sqft)X9=15,075(repairs) then

110,600-15,075=95,525 then 95,525-5,000(assignment fee) = 90,525 (offer)

Can someone please tell me if I'm on the right track here?? I really don't want to blow this away. Also another note, she just told me she has a mortgage on it for 92,000.. What do I do??? Someone please show me the right track in baby steps.