OfflineWho is in NJ and is Wholesaling? Want to partner up?
so i sent a text message ( because it would not recognize the email from craigslist and i not only got a call but a text message !)
who is wholesaling in NJ and wants to co- wholesale with me?
i would gladly become a bird dog am so excited !
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
so i ran comps according to Zillow in regards to the subject property
here are the details
Subject property
5 bedrooms/4 bathrooms (5/3)
prop address
square footage 2608
built in 1919
( here are the strings when i spoke to the person, it needs $70,000 in rehab and they want a firm $198,000)
+++++++++++
1st Comp
5 bedrooms/3 bathroom
comp prop 2
square footage 2913
built 1923
sold at $260,000
date of sale 4/28/14
( i averaged the square footage at $89.26 )
++++++++++++
2nd comp
5 bedrooms/3 bathrooms
comp prop address 2
square footage 3062
built 1926
sold at $285,000
date of sale 7/24/14
( i averaged the square footage at $93.08 )
+++++++++++++
3rd comp
5 bedrooms/3 bathrooms
comp prop address 3
square footage 2717
built 1910
sold at $293,000
date of sale 10/24/14
( i averaged the square footage at $107.84 )
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
If I read your post correctly you would buy at $198,000 with $70,000 in rehab.
So all in at $268,000 with hi comps in the $279,000 range.
I don't see how you can make any money on this one!
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
i agree Michael i did the rough math on this with no realtor comps and it would be worth $252,000 and some change
funny thing is i was so excited i did not ask the questions i needed to, something to do tomorrow they claim $70,000 in rehab !
i did not ask what kind of repairs need to be made ( i want to make a lead sheet because you never know, ha ! the person claims they have a retail buyer this is why i am so great full for Dean/Matts training and all the tricks you guys have provided )
call some realtors / buyers just to feel out the market tomorrow
one thing i did come across is this person bought the house for $154,000 ha ! last year i feel we have speculative buyers this summer will be exciting !
So all in at $268,000 with hi comps in the $279,000 range.
I don't see how you can make any money on this one!
Michael
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
sitting on a house
just in hopes to FLIP without repairs who is misleading these buyers?
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
The numbers don't ad up.
Aaron
198 is not it, I keep it simple start with 20-80 then rehab, your fee, realtor and don't forget holding cost and neg room. Joel let this one go or try to neg for lower price and L/O but If you cant get long enough terms hmmmm.
Just my thought that's all.
Aaron
I agree the numbers don't work any which way you look at it......
But it's good practice and it's also to give me momentum , once you have momentum action,opportunity and tenacity will produce result even if this deal is tossed back
Just my thought that's all.
Aaron
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Did you notice what I mentioned before ?
This seller bought this property at $154,000 and they are trying to mark it up by $45,000 with no repairs now that's funny and entertaining !
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
This is what its about, looking at deals running the numbers and deciding if they make sense. That is funny tho people will try anything, the unknowing person might take that deal.
Well done on doing your homework.
Aaron
Yea I am glad I decided to pick Dean's method who knows how much of an uphill I would have had
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
So true! I started REI back in the day of Dave Deldoto and Carlton Sheets, they only taught buy and hold and I did and was that a BIG NO NO...Don't want to get into that again without a good foundation (money in bank) before buy and hold. With that said I still do have rentals (two) but I don't plan on anymore until my biz is ready for it. Thanks Dean and Matt.
Good to bounce deal thoughts through this site.
You will get one its coming.
Aaron