My Deals

...or any of his students .

I have a property that I wish to move forward with but not sure if this would be a good deal. I want some feedback from the DG family and maybe Dean himself (if he is reading this) to provide some feedback. Here is the deal.

Property is a 4BR 1.5BA family home on top of the hill in a decent neighborhood.

The asking price is 32K and after consulting a contractor approximately 35K of repair work will have to get done before it will be in a shape where I can rent it out. The ARV is 120K based on the comps that I received from my agent. The rental income for a similar property is $1000/month.

I bought a house and right in front of my house may be the beginning of my real estate success, but the problem is finding the money. I bought the first DG series and honestly did nothing with it but the emails from him have inspired me to put my neck out and buy the SFL at the last minute and I have the drive and determination I just need some help. After listening to Lorina (Rina) Krisak I am sure I can do this and make a sizable profit. I just got started and I need help to find funds for this amazing deal. Now I have always felt like the right time and place have been there for me but somehow I fall short on something and my window of opportunity passes and I am left with a sense of regret.

Okay so I spotted a lovely home in South Philadelphia on craigslist, and the owner is not only motivated, but selling the home for $35K.

Now before I decide to make any offers or anything here's the numbers

Asking Price: $35,000

Repair Costs: 20,000-25,000

The After Repair Value is: $90,000

Comps are 85K-110K

So my question is, how do you determine whats a fair deal when you are given an ARV? If someone can direct me to some information in Dean's Be a Real Estate Millionaire or a thread on this site, let me know. I have not completely finished his book yet.

Thanks.

So I'm still trying my hardest to get my first deal in, so far nothing is coming through. However, I thought I'd post this to get some tips or your opinion on this information:

Single Family
3 Bedroom 2 Bath Home
Sqft: 1,270
Lot size: 4,200 sq ft / 0.10 acres

Asking Price: $439,000

Total View estimate: $515,371

Zillow: $438,500

Similar homes are going for $365,000

What do y'all think decent deal or not? I have other properties I'm looking at, but I wanted to post this one first.

Veronica and I just won a bid auction on a HUD home in a small Indiana town. I went to high school in this town Covington for my Sr. year after moving from the farm in Illinois.

This is all done from California.

The home is a 3/1 1020 sq ft with a basement. Our bid was $15,105.00 it will need some work but homes rent fast in this town. We will get $450.00 a month or more in rent and the homes av. sale for around 40k-50k for this size and age of home. We will still need to do our inspections but I have a Sister who lives 3 blocks from this house and she says it is worth every penny.

Now time to fix and rent.

Steve and Veronica.

OK....I posted here about 2 months ago as I was under contract for a Duplex that was a short sale.Well as you know short sales are nothing but LONG waits so I still kept looking on the MLS everyday & about a week ago a house popped up on the MLS right in my own neighborhood & I figured dang it..I missed it cause it was on the MLS for a few days before I saw it as they had lowered the price to $84,900 which is a great price for the area as most are $100,000 & up.Ok..So luckily for me there were 2 comps that sold recently just around the corner from the house I was interested in that sold CHEAP as I'm pretty sure they sold to CASH investers.So I called the listing agent & there were NO OFFERS!! on the house!!No friggin' way!!

Hello DG family,

Okay so I am wondering if this sounds like a fair deal?

I found a home through owners.com going for an asking price of $720,000. Its an 1800 Sq ft, 3 bedroom 3 bath home. Now here's the important numbers

Through using Totalview, I got these numbers

"Our Estimate": $646,835

Zestimate: $720,000
Value Range: $583,200 to $770,400

epprasisal.com: Mid Value: $593,371
Value Range: $504,365 to $682,376

Was last sold for $740,000

There's another home within the area with the same amount of bedrooms and baths going for $620,000 though its about 200 ft smaller than the one I listed above. One of my investors wants a 30-50% of the asking price for most homes. Given all the above would you consider this a good deal? Bad deal, average?

Hi,

Anyone out there working in Nevada? I have a buyer looking for a house there. PM me.

Chris

Hi,

I have an investor in Vermont who is looking for properties. Only, I am not actively looking for properties in Vermont. If you are from the area and want to work with me, please PM me.

Chris