All Forum Posts by: Geoffery Hewlett Jr
Geoffery Hewlett Jr has started 3 posts and replied 4 times.
Post: Help! Is this a deal or not??
- Posts 4
- Votes 3
@John Jones great I appreciate your help!
Post: Help! Is this a deal or not??
- Posts 4
- Votes 3
ARV is 300-310K
Repairs 10K
Seller has 108K mortgage left on home. If I offer 185K, the 108K would come out of his portion leaving him with 75K to walk right?
$ 289,788 Mortgage Balance
$ -31,627 Est. Equity
Comps:
$180K
$216K
$270K
$176K
$145K
= 987K divided by 5 = 197.4 (ARV)
.65% x ARV = 128.31
128.31 - Repairs (25K) = 103.31
103.31 - Profit (10K) = 93.31 (Offer for seller)
I’m new and never done a short sale. Do my numbers look accurate? 93K seems FAR off from 320K. Seller waiting on my number. Would really appreciate someone with more knowledge or help please and thank you!!
Post: Can I Wholesale a property that’s already listed with a realtor?
- Posts 4
- Votes 3
Hello all,
Would I be able to wholesale a property that is already listed with an agent? I’m new and the first property I flipped was off market. Just wondering what the process is for listed properties. Thank you.