All Forum Posts by: David Tankersley

sounds like a clever fraud to me.

Thank you John,

   I was wisely steered to some very similar information by a mentor.

The average comps that I see are at 530k, making the numbers even worse.

I'm either just going to tell this client that the numbers just are not there for investors, but perhaps if he can find a cash buyer simply looking for a live-in home he may get lucky. Then perhaps I'll call him in a month and see if he's ready to settle on a lower price.

Alternately, I could offer to market this at 470k'ish, looking for a 10k profit, and see if anyone bites andpossibly seek a best offer, In this case I would market for live-in buyer with cash. This is a loooong shot by any means but this could work as long as the seller understands that I have no cash commitment should this not work out. If it doesn't work, Maybe then the seller would be willing to budge.

Any thoughts on this?

I'm confused as to why this may not be doable.

According to Realist, the numbers look good:

RealAVM™ (1): $548,583 Confidence Score (2): 85

RealAVM™ Range: $493,725 - $603,441 Forecast Standard Deviation (3): 10

Is this not valid information to consider?

Thanks you all for your input so far.

I am looking to wholesale this property, perhaps to a re-habber.

Hello BP world, 

I have a lead in the Mira Mesa area of San Diego that I hope will work out, but need some opinions as this should be my first deal. 

It's a 5br, 2.5 bath. 2180sf SFR home.

The seller is asking for $460K and is firm on this.

this seems to be in line with low-en comps from the area, but then I see that average prices in the area are $485k. However, many comps also lean to $550k and up.

The seller did have this listed at 550k as of March, but says he de-listed in frustration after his last offer fell through due to bank financing issues.

I have not yet seen the property as of yet, but hope to see it today.

based on this limited information so far, does this look like a reasonable deal?

Unfortunately, the  buyers that I know aren't interested in land.  

It looks like Jessica could have the answers for us. 

I have already sent her a reply. 

I have a friend who has a contract in place on two neighboring residential lots in Oceanside, CA.. He/we know nothing about converting land in a wholesale deal. He is hoping he can simply find a buyer ready to build and be done with this.

Any comments or opinions are very welcome.

http://www.trulia.com/homes/California/Oceanside/s...

Thanks

Thanks Mark, 

   That's good to know.

Due to lack of funds, I am hoping to 'get lucky' with some internet marketing, and through the first 1-2 deals I get, start some targeted yellow-card marketing. (I hope to get assistance with buyers through my personal contact or maybe through BP)

Is this a reasonable expectation to presume?

Hello all!

  Although I have been cruising this site for a short while now, I have grown to really appreciate what the folks here at BP are offering and am ready to get involved and learn more...so here goes,

   I am indeed a newb to real-estate in general, although my late father was an aspiring creative financing artist before his time came and I suppose that influence is rubbing off on me.  I first became interested in real estate after raiding my Dad's favorite books, primarily 'Rich Dad.." and now 'Think and Grow Rich".

BTW...I am in Anaheim, CA

I am looking to start in wholesaling for a while and build enough to pay-down some debt, improve our own home and save enough to match 1-2 years salary and marketing expenses before going full-bore into this...at least that's the dream. I do have one friend (who introduced me to BP) whom I hope I can lean-on some more for getting my feet wet, but will also be leaning hear and hopefully giving back after some time.

Some questions I have so far is:

what marketing works best for you? Yellow cards? If so, aren't all buyers and sellers "we" send these to getting inundated with these every month? is this an opportunity to create something more that helps you stand out from the pack? Or is this just standard practice?

Aren't there too many newbs like me in this field? I come from a photography background where I have seen all my skills go from supporting me to being worth just above dirt. And now everyone it seems is wanting to be a photographer with dollar signs in their eyes, lulled by photo-industry guru's selling a dream much like in this industry. The net effect of so many people wanting to be in such a fun field is that prices have come down so low there is no way to make a good living at it any more.
If i am jumping this real-estate train too late, I want to know.

Besides BP, I am consuming all the pod casts and online resources I can before making my first move.

Any suggestions or guidance you can offer is always appreciated.