All Forum Posts by: David Schach
David Schach has started 12 posts and replied 53 times.
Post: Potential Deal? Good or Bad
- San Francisco, CA
- Posts 65
- Votes 39
I came across a potential deal. See if you guy like the numbers.
110K purchase price
40K est costs to fix
225K est ARV.
still waiting to get a comps list and DOM for this specific area. its bit of an area i am not super familiar with, but its not too far driving from where i am.
Post: Looking at first deal. Would YOU do it?
- San Francisco, CA
- Posts 65
- Votes 39
My inclination was the lower numbers too. it looks good on the high side, but not so good on the low side. in todays market i think the low side minus 10% is probably the better guess. thanks for the input.
Post: Looking at first deal. Would YOU do it?
- San Francisco, CA
- Posts 65
- Votes 39
I have found what looks like a promising deal. This would be my first deal so any help would be appreciated.
SFR-
1- ARV $400K +/- $25K
2- asking $180K
3- potential short sale and/or default on a construction loan
4- needs $110K +/-$10K to finish
Does this sound like a good deal to lock up and try and sell for $190K? Would someone want to take over a house mid-project and finish it up, in a general sense? Is this something that investors usually run away from or look for? I have never done a wholesale deal, so what contract would I use? Where would I find a good template.