All Forum Posts by: Markeilsha R.

@Timothy Riley  it has stone facing. I looked at the street and it runs from ok to really bad as far as crime, but the house is really nice from what I can tell.  For the price I thought I may be able to wholesale this to a buy & hold investor. 

@Jerry Brown I appreciate the offer, I will email you the details.

I have found an inherited, non-listed FSBO in the engle wood neighborhood of Chicago, IL. I would like to make the seller an offer, BUT learning from mistakes of the past I want to make sure I price things right, since this is a bad neighborhood. The house is actually really nice. SFR 1800sqft, 3/2 with a two car detached garage. She wants 45k, and repairs are about 5-7k. Based on the comps the property could be worth high 60's low 70's, but factoring a neighborhood in idk.

How much would a buy & hold investor in this area pay for this type of property?  

I'm very interested in this topic. I have some uncertainty about pricing turnkeys. To me I would have thought that a turnkey would be similar to a retail sale since the buyer is planning on hanging on to the property for a while. I've recently been corresponding with a "buyer" about a property I have in Buffalo NY, I stricter it for sale at 65% ARV but I thought most of these deals are sold retail. He informed me that my price, although he agrees with the ARV is still too high, wanting to purchase at 35%. Obviously he won't be buying, but is this typical? Do buyers want these properties at below half the retail value?

I have a owner with property in the Poconos. It is a small simple house, but it's sort of remote and I'm not altogether confident of the comps I've been able to get. Besides that has anyone had issues with wholesaling vacation property to other investors? I'm new and eager so I'm not crazy about waking away from a deal just because it's a little difficult. Any advice on remote/ virtual wholesaling vacation properties in the north will be greatly appreciated.

Hello everyone. I'm also new and I've been using a couple different sites to get an estimate. I like trukia, because sometime I see comparable recent sales. I also use realestate.com, and epprasial. I recently signed up for a trial with freedomsoft and I like tier comps too because it gives you the option to adjust and select from the recent sales to see if what yet came up is right. It's comps are from sales that are really up to date. They also include the zest image and the epprasial. When I find a property listed I just rub the comps through that-- so far I like it. I was considering working with realtors in each area too because I want to do foreclosure investing as a niche.

I will be moving to Fulton county in GA next year and I wanted to explore the practice of virtual wholesaling. The trouble is I am new and I am not altogether sure how I should go about building a team there. Does anyone have a system? I know I would need a person to photograph the homes, an attorney, and an agent. I also heard about people using the joint venture approach to make it easier? Is this all it takes? How do I vet these people to make sure they are the real deal? It would be lovely if there were virtual REI's lol.

I also have a question to piggyback this one. Are there any restrictions to flipping or wholesaling a Fannie Mae homepath home?

What are some of the free (or cheap) places to advertise a property? I've done Craigslist, but I really want to maximize my exposure. I'm still building a buyers list--the ones I have are from Cl and mostl appear to be tire kickers, or other wholesaler a.

thanks @Eric M. The 14613 property had two on the same street sale for almost twice. As a new investor I've been a bit confused about pricing rentals vs SFR. The property in 14621 is a SFR whereas the one in 14613 is a multi rental. I thought the price I got was great, but people are really selling rentals at $13k? My 14621 property is a REO that I contracted over $20k, judging by what you wrote I'm already in the red. It will definitely come in handy as I gain more experience in the area. My question about all that is about comps.

@Eric M. I just got two contracts for REO properties in Rochester. I don't have a huge buyers list for the area, and I live in Syracuse so I responded to a few ads I found on craigslist. A investor (wholesaler/rehab flipper/ buy& holder) called me right away expressing interest. I gave him the addresses, and the info I got from him sort of went contrary to what my recent comps said. Idk if it was a sales sort of pitch to bring down the price, but he did give me a lot of good info regarding codes, and points etc. I'm really new so suffice to say, my ignorance in these factors scared me a bit. I mostly just let him talk, but he based a lot of it in theory and speculation without seeing the house. He knows the area really well it seems. So getting back to the question I asked, and why I asked it--investors seem to be interested in specific areas. So I'd like to target those for my future searches.

BUT I guess another question would be, can you get a good property in a not so good or "desired" area? If you do (and I think I do), how do you market that?