All Forum Posts by: Manuel A.

Well, although I haven't done anything, I already have a fear that when I fix up a house, it will not sell. At all. Like, never in my entire life time unless I discount it so much that I will be in the negative.
And when you get into the negative in REI it seems to be a lot of negative when it happens.

Even though I have my market data, DOM's, and know the theory of how to make a house stand out from the competition in terms of style and what not I just have a fear that it will take much longer then 4-6 months to sell.

Is this irrational considering DOM's in the neighborhoods I'm targeting are around 81 DOM?

WOOOWWW!!!! Amazing job @Ryan O.!!! I think I'm going to steal your style for the bathrooms when my first one comes around!!! You did awesome! I'm super happy for you!!!

Great! Thanks very much @J Scott for your thorough answer and @Ned Carey for your contribution on top of that!

Allow me to elaborate:

I found a house that is (and these are really rough numbers as I'm not going to put out an offer anytime right away) worth about $120,000 ARV. It's asking price is $95,000. It's repairs are lets just say $8,000 (really light).

So my max offer price is 65%ARV - 8,000 = 70,000

I feel if I offer $63,000 (for bargaining room) they will not even respond to me. Is this how most deals are? Are these wide gaps between asking price and offer price usual and to be expected?

Thanks.

When I look online obviously there aren't any extraordinary asking prices on the fixer upper houses so I'm curious, when you put out offers how low below the asking price do you typically go? I know it its variable but is there a point where you know your offer price is way to far from the asking price so you just skip it altogether? What's the most you've ever knocked an asking price down in terms of dollars? What do you think is typical?

Thanks

...

Is rehabbing still viable in a recession/depression? Do people tend to switch to buy and hold in those times?

Call me Mr. Doom, but I think it hasn't even hit yet. I believe we'll hit somewhere in 2013...

Go to Will Bernard's files. Its the only one.