All Forum Posts by: James Rogers

Thank Will. Spoke with the owner again yesterday and they will consider holding a note for 150K due and payable in 12 months or upon sale of home at 3% interest. Since the 1st would be paid off they would become the 1st mortgage holder. As far as price, they will not budge off there price and I know if it hits the MLS it will sell within days taking into account the area and price they are currently selling at.

High School is the closest to the home, but there is also a highly rated Middle and Elementary School within one mile where children of the area attend.

Yeah Jordan, as you know there is nothing you will buy in Fremont for 318K, not even close. The seller is very firm on the price as it's a home that they just inherited from there parents. This is possibly be a home that I would consider moving into.

Repairs will take 3-5 weeks. No, the brokers fee's were not in the figure.

I have a potential deal in the San Francisco Bay Area and want to run it by more experience investors before I pull the trigger on it.

The home is located in a very nice area, the home is 40 years old and is located in a very desirable school district with the high school less than 1/2 mile from the home.

565000-580000 ARV

Sellers owes approximately 240000 on it and wants to walk away with 150000 in their pockets.

The home does need extensive repair to sell for top dollar. Both Bathrooms need remodeling and the master needs to be taken down to the studs and have the subflooring replaced. Kitchen remodel and flooring throughout the home. Landscaping front and back and new garage door. I estimate the repairs with be around 75K.

So if I pay 390K with 75K in repairs I would have 465K in the home and the potential profit would be 100-115K.

Would you enter into this deal?