All Forum Posts by: Benjamin Cowles

presumably they're occupied by renters. I'm just started getting my system going here going around town gathering addresses which most of which turn out in the CAD to be listed as owner occupied, which I put to the side for further skip tracing. Half of the rest, if not by the first drive by, I'll drive by again to double check and find they appear occupied. But being according to the CAD the owners don't live there  I'm thinking market to possibly tired landlords of not the prettiest homes in town. Good strategy?

I've read about the use of "return service requested" in here to get the PO to send you a bill for a buck or so to get the address of an unoccupied property. Should I append that message to all my first mailings, or will I get anything returned to me that doesn't have a recipient on the other end?

I'm assuming not as we've all seen abandoned homes with full mail boxes so those aren't being returned. Is that a matter of the practices of the area and /or particular mail person? Should I just type the message on each first mailing to be safe? What do you guys do to catch as many dead ends as possible? Thanks!

No pool planned at first. Just wanna analyze without for simplicity but it's a possibility. As far as the rehab buffer, I'm basing my offer off of the higher end of the rehab #. Partner wants to offer higher. I think she just wants to get in the door, secure the seller under contract then renegotiate after having an inspector see what the real deal is. Good or bad strategy? Could cost an inspection fee if seller rejects a new lower offer. Any onions on this? Well I figure just call a could HML's to get a final opinion. Good idea right? If they don't do it, how/why would we?

thanks all. 

 Hear hear! Or here here, whichever. Anyway, until then looks like we go to an attorney or mortgage broker or money lender of some sort, someone who would have a MLO, lmo, rlmo, whatever on hand

 Yes, so far I've found it contains more comps than trulia and zillow. I usually check all.

in case original post was confusing, I'm calculating in my head a max offer of $75k. My comps sheet is calculating a max offer much higher like $90k based on the neighborhood but again, they're all waterfront with pool off that busier street. And this has partial yet attractive waterfront feature in just a direct view and fishing/dipping your feet in access, but no dock. So...

No pool but a beautiful two story home $85/sf. Not so close to water. Again subject prop has no legal access to it but with neighbors permission... Just not a dock or anything. You know what I'm talking about. That back corner water access. Probably throws an extra 15% of value onto it. That property across the street is probably an exceptional deal at $85/sf but I didn't stray from immediate area, across the street because it's in a community, no HOA's but deed restricted I believe. I guess you're suggesting getting comps further out then...thanks!

40-50k in repairs

It's the top one. The rest are comps. According to my formula, the "ARV" for subject property is displayed but problem it's based on "comps" and these aren't exactly. They're just what's in the neighborhood which happens to be waterfront pool homes and subject prop has no pool nor water access exactly. So I threw in a couple "comps" but I don't believe balance it out to a $190k ARV. So I adjusted my $/sf ave to punch into another sheet in this file that gives me all my final #s and I used $110/sf to get me an ARV of $150k, max cash price 75k for which I'd initially offer $60k. What do you guys think?

Comps are here: 

Property is here:

It has a view of the water but technically no access unless the neighbors make room, and it's on a corner on that busier street. 

 Thank you!