I think I found my diamond

That's great! Have you looked up comps on the property to see what it could be worth?

Yes I have, and the FMV of the property based on what has sold recently is around 120k, that's what I'm loving about this deal holding and refi at even 65% of ARV puts money in my pocket for future investing or flipping net out a nice profit too. Will keep you posted.

Cathy

Congratulations on this potential "diamond in the rough" deal. Persistence pays off and you never know when those gems will come along. It sounds like it could have some nice potential. Keep us updated on how it goes. Good luck with this and future deals. Believe and Achieve! - Joe

Good job keeping a eye open for that I hope that you can get that deal, wish you the best.One thing that I found out is to build a relationship whit the rep, she would more likely to remember you and leans towards you to make the deal happen,people feel better to do anything if is someone they know better.Goodluck on this house and let us know how it goes.

I am going to see the house today, my brother did a drive by for me yesterday (he lives/works nearby) and said it is small but looked nice. Will keep you posted.

Cathy

This was a great find, keep us informed as to the outcome.

I hope you get a deal done here it sounds very prosperous.
Is there anyone else interested in the property?
Where online did you find this FSBO?

O yeah and what did you think about it when you saw it in person?

Tell me everything!

I went to the house. After about 15min of waiting I called the cell of the woman I was supposed to meet, a young boy answered and I thought I had the wrong number so I apologized and humg up. Redialed and the young boy said wrong number and hung up on me. Waited a bit more, called home to verify the number and dialed again, this time different person answered, I explained why I was calling, I was waiting at the house etc. I was then told that the woman I was to meet was in the hospital! I didn't ask what happened but apparently was in some kind of accident. Asked if she was going to be okay, and said to contact me when someone was avail. to show me the house. It's about a 45min drive from my house so not a quick zip to see it. I noted the roof seemed in good shape, needed new windows and siding needed painting or replacing. There is no garage, but a driveway. The yard is extremely tiny. Drove the neighborhood, 2blocks away there are some pretty nice homes, the street this house was on was a mix of owner occupied and rentals. Oh well, hoping to get inside of it soon. I asked if they were coming to show it to anyone else and I'd come then to save a trip but they are not. The woman (Dawn) gave me the phone number of the owners brother, have not yet gotten a hold of him.

Cathy

Oh I forgot to mention I found it on craigslist.

I was able to see the house today, it turns out the woman who was to show it to me was not in the hospital but in jail.(long story) It would definitely make a good rental, the house is in disrepair and very smelly due to animal urine, it needs new everything except a water heater, furnace, toilet and tub. Everything else needs help. Roof, siding, floors, paint carpet, woodtrim, doors. You know what I'm saying. I am writing an offer for 25k tomorrow, I know it's what the brother needs to cover his deceased brothers debt, plus a little extra. I heard, that the renter tried to buy it for 32k but was rejected because the brother is very angry at him. If I can get it for 25 It could cash flow; rent would be 800-900 month. There is no garage but does have off street parking and a shed. Will keep you posted. I was going to downgrade my diamond to maybe a precious gem, but the truth is if it will cash flow, it's a diamond.

Cathy