Offlinea 2/1,924 SQFT @ 7729 CANTON DR,LEMON GROVE,CA 91945.
ZILLOW'S EST IS $164K,MY OFFER IS $159,900.THEY WERE ASKING $239K.
7687 CANTON,A 2/1 864K SQ FT SOLD ON 8/02/2011 FOR $199K.ZILLOW'S ESTIMATE WAS 194K.
BECAUSE THIS PROPERTY IS ULTRA-TURNKEY,AM I O.K. ???
ANYONE WANT TO PURCHASE AND ASSIGN ME A $5K-$10K FEE,TO HELP ME GET MY FIRST DEAL ???
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So Ray, what is your plan if they accept your offer?
1. This is a renovated property & it's not selling because they priced it to high & it has small sqftage.
2. San Diego 2/1's with 830 sqft properties are not selling very well right now, so unless you price it a lot lower than the 199k renovated comp down the street, you or another investor might be sitting on this property for awhile.
3. I would say ARV would be more like 180k for a quick sale to a retail buyer or a buy & hold investor looking for CASH flow. Therefore, buying this property at your 160k doesn't leave much room for all costs & your fees. I personally don't see these sellers/investors dumping this property for much lower than 180k, as I think they could get that, but then again, they could be desperate to pull there money out & take the loss.
4. Is your offer excepted? You mentioned your about to lock it up.
Jason S.
San Diego, CA.
**All CASH House Buyer!**
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I'm just going to wholesale it to another investor for an assignment fee.Just starting out.I wanted to get a feel for if the deal was good,before re-contacting the realtor.
If my offer is too high,then contract will just expire in 60 days and no loss.
Not sure what I'm doing,but some action is better than none !
Haven't locked up yet.Wanted some opinions from other investors.Since I'm wholesaling it,if it is too high,the contract would expire within 60 days and there would be no loss.
I am just desparate to take some action,rather than none.
Maybe,I should lower my original offer to $139K to give more of room for the new investor.
Out of 11 offers,this one was one of two that had responded.The first one was a similar deal.The realtor was holding out for a bigger profit.This may be the case on this one.I'lll let you know what happens after I call him.
Do you know anyone who might be interested in a house like this one???
You should find a property that would be a deal to another investor even after you tack on your assignment fee.
To get an investor interested in your deals they need to be priced under 75% of ARV and minus the repair cost,and your fee.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
Just stick with your original offer of 160k since they seem to have some interest & give me a call or Private Message me if you get it locked up. I have buy & hold Investors for our area/San Diego or my partners might be interested.
Also, I wouldn't post the address on here before you get it locked or investors will go around you.
Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page http://www.facebook.com/JandBHouseSolutions
Thanx for the intel!
What part of SD are you in?
Thanx !