All Forum Posts by: Juan Difot

Hey Bryan,

I know this thread is old, but I actually looking for the same. I sent you a friend request and will PM you afterwards with more details on my situation.

Thanks,

Juan

Link on CL: https://post.craigslist.org/manage/2764956515

Thank you all for your insights. The information you provided is going to help my partner and I tremendously in formulating the next step on this deal.

Additional comments / ideas are welcomed.

P.S. I think it goes without say that New Western Acquisitions in Dallas, TX is permanently on my 'Crap List' permanently.

Hi All,

Thanks for your replies so far. Here go answers to your questions:

@Jeremy Namen - With regards to getting ahold of the people that come to a showing, I wouldn't know how to contact these folks. I am in Mass and all of these showings are handled by the realtor. However, I have asked the realtor for feedback on the showings and he said that the prospetive buyers have good things to say but they are not thrilled about the master bed, which is a step down (About 5 stairs down from main level. This was an addition in the rear of the house). They also say that the house is close to E. Grand Ave, which appears to be a busy / dicy street. Having said that, the house is located in Lakewood on La Vista Drive, which has a really good school system. Also, from what I understand, the other end of the avenue cuts through a ritzy area of town.

@Carlos F. - Feel free to PM me for contact info. Any help would be appreciated.

@Danny Day - The appraisals have all come in over $270k. The house is currently listed at $241.5k. Per the realtor and his CMA, the comparable list price is apparently $240k to $250k.

@John Klaus - Please see my response to Jeremy. I answer most of your questions there. The house is completely rehabbed, the price is well below appraisal, and it looks like there are a good amount of showings / exposure. Not sure what the issue is?

Here is the link to the property:

http://www.trulia.com/property/1688183-7319-La-Vista-Dr-Dallas-TX-75214

Thanks again for your help on this.

Juan

Hi,

Hope you are all doing well. I am posting on this forum for advise on marketing / selling a current real estate deal.

My partner and I recently bought a fix and flip property in Dallas, TX. We purchased it as out of state buyers as we are both in Mass. We financed the purchase and rehab with hardmoney as well as a descent capital investment ($60K). We managed the rehab remotely, which took a bit longer than anticipated but overall not too bad.

Unfortunately, the advice that we received on the area, ARV, and marketing / resale time from the wholesaler, realtor, lender, and appraiser was over zealous. So now we are paying a hard money loan on property that is not selling with a price that is much lower than the original ARV we were quoted (which we vetted several times via multiple appraisals).

We have hired a top realtor in the are who is marketing the property and doing between 4 to 6 shouwings per week over the past three weeks. We have also advertised the property on CL for rent and as a sale with owner finance. But the response has not been great.

Any other advise for selling a property super quick, short of continuing to lower the price?

Thanks in advance.

Agreed the 2%....is more of a guideline.