All Forum Posts by: Mike Nelson

Brian - where can you get a list of property owners with a big drop in credit scores?

I really appreciate all of you guys input. As I mentioned, this is my first wholesale and I kind of jumped on the opportunity because I have a seller that's willing to sell. I think I need to step back and read a little more so that I can go in better prepared.

@J - I just got off the phone with the seller and he said that the property will require 30k in renovations.

I have two comparable properties in the area one was an REO that sold for 40k last year and the other one was a complete renovation that sold for 82k earlier this year.

@Munira - I will definitely be getting in touch with you sometime this week. I look forward to speaking with you.

@Keith - I would also enjoy being apart of your network. I've also thought about mobiles as well. So, it would def be great to chat with you sometime. What area are you looking for vacant homes in? I may be able to help you with that.

I've been scrolling through my list of vacant homes in my area. I was able to track down an owner who's intrested in selling his property. (this is my first wholesale)

He mentioned that he's lost a lot of money in this property and he doesn't have the time to fix it up. He purchased the property in 2006 for 46k, the city has it assessd for 75k with improvments. On zillow it's assessed at 59k and houses in the area have been selling around that range.

My question is, what should I offer this guy for the house? I'm expecting atleast 15k in improvments.

Murnia - good job on getting close to closing. I see that you are located in VA, I would like to talk with you. I'm also in the process of closing in on my first deal. Look forward to hearing from you.

@Curt - whats wrong with bandit signs?

Thanks for your help, I'm going to try to get in touch with all of these property owners. Should I do direct mailing?

@George - so this would be a waste of time to reach out to these owners?

I was able to find a list of all the homes in the area that the city considers vacant. From a wholesaling standpoint, what should a do with this list? Also, I'm new to wholesaling this will be my first deal.