All Forum Posts by: Wes Barnes

My business partner and I currently have 4 properties up for sale in the Lubbock, TX area. 2 have been on market for about 1 year, We are trying to sell them ourselves however the potential buyers who see the properties either have bad credit, or cant afford it. What is the best way to market a property.

Please checkout our work, and provide me with your thoughts on how we should proceed.

6011 Norfolk Ave, Lubbock TX 79413

Good Evening Shere,

I currently have a smaller deal under contract, 6k purchase, 20k rehab the ARV 70k. Please let me know if you're company could fund this. My current Hard money lender will only lend in Lubbock, tx area, however, this property is in Portales, NM down the street from the ENMU.

Thank you

Very Respectfully

Wes B.

252-424-2321

@Brandon Roof

Thank you Brandon!

I'm currently working out the details with the seller however I got them down to 93k, before I go and pay Earnest and due diligence money.

Would you do this deal

Asking 93k

ARV 205K

Rehab - 40k

I only have today what would you do!

Should I take it or Run!!!

@Jay Hinrichs

Thank you very much for the advice. What is your criteria? You said you partner up as well.

I started getting into REI because I kept running into distressed properties when I would inspect for the Insurance companies.

I could definitely let you know if I come across a property that meets your standards.

Thank you

Very Respectfully

Wes

I just got 3201 45th st, Lubbock, TX 79413 under contract, the original asking price was $140k, I got it for $100k. I have a 10 inspection period and 30 days to close after and only put down $50.00. It needs 45k in renovations.

I have a contractor and the ARV is $218k -$250k

How do I fund this flip?

@Silvius Grant

This will be my first flip however, I'm an independant Insurance Adjuster, I use Xactimate like the contractors it's gives me a more accurate scope of work.

@Tchaka Owen

Do you happen to know any lenders that would do a cash out refinance with a self employed person?

@Derrick E.

The area is not the greatest however it is down the block from the University of New Mexico

@Alexander Felice

It was an off market deal, the owner started renovating however he ran out of money. The local real estate office tried to purchase it from him but they upset him so he sold it to me for 6k out of spite.