All Forum Posts by: Ty Wesley

Thanks Bryan, I plan on doing that too but It cant hurt to check with the pros at bigger pockets! I'm specifically hoping for a response from an investor or contractor familiar with Wilmington market.

Hey BP members,

Can anyone tell me what I should expect to pay to have the plumbing redone on a two story, 675 sq ft. home in Wilmington, DE?

I know renovation costs are always relative to your location, anybody familiar with the Wilmington, DE area?

Thanks Steve

Ok, Please pardon me for this extremely naive question, but what is a refinance exactly?

I hear about people refinancing their homes all the time but I never really understood what the process is and why/how is it beneficial.

Sorry guys, I warned you I was a newbie lol

Just Don,

When I asked her were the mechanical systems working, the agent said she paid to have the house winterized around the time winter started. She said that was the last time she was there and the appliances were still there.

Steve,

I still don't understand what she was saying the client did. Does she mean her client put 30k down and her mortgage loan was for 90k?

Oh another thing, she tried to give me an idea of the property's potential by telling me that her client purchased the house for 30 something thousand and she "leveraged" it for 90 something thousand. Im not even clear on what that means but I was too embarrassed to ask her what she meant by "leveraged". Can someone explain what she was trying to say?

Thanks michael. Offer low and work your way up, that makes a lot of sense. I haven't seen the property in person yet just the pictures from the listing. There were only 4 pictures, showing off the curb view, the living room, dining room and the kitchen. The floors are carpeted and the walls and ceilings look like they are in pretty good condition. The agent I spoke to on the phone said all the appliances were still present (I see a stove in the pics) and that the property did need work. I didn't ask what was needed specifically though.

Hi BP Members,

I am a newbie to the site. Im currently looking to purchase my first home and I just wanted to get an opinion or two from some experienced investors on an offer I want to present.

Okay so I saw a 3 bed 1 bath house listed on realtor.com with an asking price of $15,000. I called the agents number and she told me this property is a short sale. Its been on the market for 5 months now, so do you think $10k cash is a reasonable offer or would I be wasting my time trying to get it for that low?

I myself think its a reasonable offer because of how long the house has been on the market, but then again im not experienced in investing so I feel I could very well be wrong.

So in you guys' experience, do lienholders generally accept offers that are 65-70% of their list price after being listed for 5 months?

Are there any websites that list FSBOs that aren't on the MLS? If so, which site do you guys find most effective? (im interested in homes in the Wilmington, Delaware area)

Thanks in advance guys!!!

To John, Jimmy, Chad, And B

Thanks so much for your replies. You gave me the insight that I needed because I've never been to an auction yet. Very useful info guys, thank you for responding!!!