OfflineOk just put an offer on a home in an area that is selling like crazy. It was in the middle of a full rehab and the investor lost funding so it went into foreclosure. It is held by a smaller bank and they need to get rid of it because it goes to auction very soon here.
4/3 3200 sq ft
Finished basement
1.9 acres land
Offer 220k
ARV 450k
Repairs 80k
Good deal? I am so nervous but might as well try! Best part is, my realtor went to check it out today because I was at work and did full estimates and told me that he wants to buy it because this would be his DREAM home as soon as I finished the rehab with private money. The comp is solid as the 475k home was 1 year older 400 sq ft smaller but had 1 more bedroom...
I AM SO EXCITED!!! I should know by tomorrow!
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
We are competing with one other offer that sounds like it is just below ours and the bank will give an answer by tomorrow. They were asking 205k and with the amount of profit potential we made an offer above asking. I guess three other offers came in lower and they have rejected those three so it is down to just us and 1 other offer...
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
Keeping my fingers crossed for you, Matt!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"