All Forum Posts by: Hector Romero

Jon, thanks for the reply. Your analysis helps a lot. My emotions are playing with me and given its the first deal I'm emotionally vested and feel I should take it just to gain the experience. I would like to become a full time real estate investor in the future. What todo, what todo

What happens if the contract was contingent on getting financing and the financing doesn't go through? Is the earnest money still lost?

hello BP, I'm a newbie trying to make my first deal in the DFW area. I've found a house through my realtor that is a bit outdated. The kitchen and the bathrooms need to be updated. The Hvac system is shot and needs to be replaced. The house was built in 1959 and will need a lot of work. my contractor gave me a quote of 20 - 25K to get it updated.

There is a very recent appraisal on the house and is contingent on fixing the hvac system; the appraisal of the house is 112K.

The seller is willing to let the property go for 87500. is this a good deal? The ARV my relator gave me is 129K

the house is roughly 2200 sqf. It is located in a nice, quit street. I would like to fix it put it for rent. Realtor thinks I can get $1200 a month.

thanks in advance for your time.