All Forum Posts by: Keaton Jones

@Bill Brandt

I couldn’t figure out how to get the funds…

@Nicholas L.

It was a private seller

@Bill Brandt

Unfortunately it just sold for $145k. I believe another investor got it.

@Bruce Woodruff @Scott E.

Thank y’all both. I’ll see if I can find someone to do both but if not I’ll try to see if I can get an inspector and then go over possible costs with the contractor. I let them know I am interested, maybe they will give me a chance to have it inspected.

@Bruce Woodruff

If I were to get a contractor to take a look at the house would they be able to tell me if there were further issues that needed to be resolved?

I believe this is my first post on bigger pockets so it feels like a good first step. But I’m needing some advice. A rundown house just came on the market for $140,000. This is a private seller and they are currently taking bids. I did a walk through and estimated a (rough) $35,000 dollar rehab cost putting the house at $175,000. On the same street a house with a very similar floor design sold for $250,000, I believe. The profit margin looks great, but I don’t believe the house is worth $140,000 and I think the housing market is making me hesitant on pursuing the deal. Is it uncommon as an investor to bid an unreasonably low amount? If you don’t qualify for a loan do to another mortgage, what are other buying options? Are there any guides to estimating rehab costs? Are there any speculations on how the housing market will look in 6 months? Sorry for all the questions but you don’t know what you don’t know. Thanks for any advice!