All Forum Posts by: Michelle James

Yes, it is listed. I noticed I didn’t answer the original question.

The sales price on the house is 185k. Owner was stating it appraised for 197k. This is a divorced couple trying to sell off two houses. Ex is an agent but it’s not exclusive to a contract since both parties are trying to sell both homes to move forward. 

I am in the process of doing a creative financing deal and trying to determine comps. I noticed a home was sold two doors down from the property I am looking at for well below asking price at 57K. The owner stated they had received offers but no one can qualify for the mortgage and it was appraised for over what it is being listed for. The area is showing prices in his range of 130K to 250K on average . Clearly, this one house should not determine the overall comps but it does affect slightly the price. How do I determine a good price based on this skewed price?

I have been trying to locate lawyers for creative financing deals like subject-to and owner financing in areas like Jacksonville, Wilmington, or New Bern. Any suggestions on lawyers in these North Carolina coastal areas will be greatly appreciated.

Hi,

I am new investor and wanted to see if I could increase my retirement savings that were gaining a few pennies literally on the dollar. After speaking with a local flipper, I invested in one of his projects to see if it was a viable income stream. Through this process, I have learned patience and always get a contract. Needless to say, the house took two years to flip due to unforeseen circumstances like a hurricane and was sold this year. Coincidentally, I will be receiving my initial investment plus 15% per year. What is the tax burden? Is this consider a capital investment? What are some ways to keep track of your taxes especially with real estate?