OfflineI found two fsbo properties, both brownstones. Owner of both is asking $330,000 for each. One is appraised at $389,000 and the other at $351,000 according to www.express.realquest.com Owner states that his asking price is negotiable and that b/c there's tenants, it's positive rent rolls.
I'm going to call him today. But, since I haven't yet found a re agent to represent me or a title company (working on both today), who do I ask if assignments are legal here in NYC??? If it's not, and I sure hope it is, is it difficult to do a lease option if I have no cash/credit? Thanks.
Here
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The race isn't given to the swift, but to those who'll endure to the end.
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answer to my own question, with a little effort. I'm so happy to say that yes, it's legal in N-Y-C!!!!
I contacted various realtors asking for the cma for the properties I'm looking at. As soon as it comes in via email, I'll be calling the owner to chat about the properties and making an appt to view them. I have my contractor on stand-by so, he'll receive a ring as soon as everything else comes through.
The race isn't given to the swift, but to those who'll endure to the end.
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Good job, sugab28. I hope everything works out for you. Sounds like a real moneymaker there. I am hoping for something like that to come my way. Keep us informed how it goes.
Brian
Brian
Thanks Brian! A realtor got back to me and was very helpful. She told me what I already knew of the properties along with the fact that the high cma is $351,000 and the low is $292,000. I then phoned the owner and he was a kind gentleman. He's not able to show the properties this week but wants me to give him a call on Monday. He did state that the properties could use some updating.
My question now is, at what price point would this become a great deal? Meaning I know it should be at least 40% below, but at what starting price...the high or the low #? Thanks
The race isn't given to the swift, but to those who'll endure to the end.
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Don't make any offers until you find out how much the renovations will cost. You have to figure that into your price. If you have the addresses go to WWW.ACRIS.COM. and look them up. I live in Queens and use that all the time. You can see what he payed for them.
hope that helps
Richie.
hope that helps
Richie.
you're of help. thanks. I have a contractor or two on stand by so that when I make the appt to see the properties, I'll be met there. In the interim, I'll check out acris.com.
Thank you!
The race isn't given to the swift, but to those who'll endure to the end.
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I only have the address, not the block or lot #. So how do I navigate this to find what I need or do I have to visit the county court house for further info?
thanks
The race isn't given to the swift, but to those who'll endure to the end.
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you should just be able to put the address in there and it should come up with his name along with that address... click on it and all the info for that property should come up...
just that. Thank you.
The race isn't given to the swift, but to those who'll endure to the end.
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just that. Thank you.
because I don't know what I'm reading. I see deed - mortgage - satisfaction of mortage. How do you read this? I can't tell what's owed or paid? Help me please. Thank you.
The race isn't given to the swift, but to those who'll endure to the end.
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Pm me the whole address and i will look at it and then walk you through it!!
Great job so far, keep up the good work. I hope everything works out for you on these properties. Be sure to keep us updated as you progress.
Good luck!
-Mike Hutchins