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All Forum Posts by: Greg P.

Greg P. has started 242 posts and replied 680 times.

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hello,

Here is a picture of the front :

The Neighborhood:

Thank you

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hi there, I will post pics soon. I'm working with a experience Bpo agent and Reo agent who says if I were to relist it as is, it would sell at $60k quickly. I do trust this realtor, but since this is a odd house, I'm still worried. I'm not planning on holding it although if a investor did buy it, he could probably put in $40k to rehab then sell on a contract for deed at $135-150k. I will be posting pics soon. Thank you guys.

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hi John, yes there is a lot less of a market for a buyer with this type of house around here. I would say the all in price including rehab would be $90k and I would be able to rent out for $1,100 which would be something that I would consider. The owners already think I'm buying it cash so I don't think I can get a appraisal because he won't be able to get in. I did have a bpo agent friend go there already and he said it would going to be a gamble to rehab and sell but to put it back on the MLS he thought it would sell at $60k due to the land prices there. Thanks for the advice John! I will let you know what happens.

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

That's another thing, this isn't listed on the MLS. I saw a for sale sign on the lawn and called him. Then I was able to get him down from $65k to $45k. This is a area where most people don't put for sale by owner signs down and mostly list it on the MLS. That's another reason it's more tempting.

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

I'm looking to buy and put it back on the MLS to wholesale

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hi John,

The land is not able to be split. The repairs are around $45k to put on a new flat roof. My guess the land would be around $40-60k. Any other thoughts would be grateful.

Thank you

Post: Would you do this deal? I'm on the fence...

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

I would probably pass due to the high purchase price and not fitting my formula. I'm working on doing quality over quantity deals.

Post: Would you buy this house? Earth Home

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hello, I'm looking to purchase a earth home that is in bad shape. Basically, the owner wants out and his bottom price is $45k. The lot itself is 1 acre and the houses around the area are selling for $140-250k with smaller lots. The problem is this is a very unique house and needs a full gut, mold remediation and new roof etc. A carpenter bought this lot and built this house himself. In this area, you just can't find a house for $100k, let alone $45k. I've been going back and forth in my mind because it's a great deal, but such a unique house and needs new everything. Lots in the area are going for 50-100k, but there isn't much. Any thoughts would be appreciated. Thank you.

Post: Is there a problem with this?

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Legal. If for some reason I get sued then will there be complications from this of any sort?

Thanks.

Post: Is there a problem with this?

Greg P.Posted
  • Los Angeles, CA
  • Posts 717
  • Votes 50

Hello, I'm using a crew who is using the license of a contractor to pull permits for the job. They have insurance, but I am wondering if there is something wrong with this model if the contractor allows them? This crew is a separate entity from the contractor and they are on our contracts. Thanks.