OfflineI have a FSBO and he is highly motivated to sell. He has a small 920 sq ft home with carport. Says he just want to be done with renting it out. He is also moving out of state. Has had same tenants for last two years. He has remodeled and I have two zillow estimates, one 44,800 and 99,700. Totalview was 91,084. He just wants the payoff amount of 57,000. What do I do now? Where to get the true comps without a realtor? Thanks, Tammy
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Are you going to buy and sell? Or buy and hold for yourself? If you sell it, I think you are going to have to get a realtor to run comps. If you are going to keep or sell it as a rental, there is a way to calculate the value without a realtor, by basing the value on what the property rents a month.
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
Sold comps for the last 90 days.
Currently listed comps.
Currently under contract comps.
Get a realtor to supply comps, Tell them when you list it you will use them as the sellers agent. What do they think you sould list it at so you can sell in 45 days? Your plan is to fix and flip as far as the realtor is concerned.
Now, you say it is remodeled. What if any repair/remodel is needed? Paint, carpet?. A sellers idea of a remodel may not be what is needed to sell the house and make money.
The spread in values from zillow to total view is an excellent example why you NEVER base a buying decision on a website!! You have to have real comps that apply to the VERY STREET you are buying on.
So, real comps and a real remodel estimate. Never use zillow or a sellers repair estimate when making your final buying decision.
Good Luck on this one, I am very interested to hear what you find concerning ARV and what the place needs as far as work!! You are stepping out of theory into the real world. WAY TO GO!!!
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I will call my realtor as I think she can get me going on this and whatever happens I will take it as a teachable moment. So If I sell great and if I don't I will take away some valuable knowledge and real world experience as you say Michael. Thank you so much.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
As Michael said above, get some comps right away, and then get a purchase and sale agreement signed by the seller, give him $10.00 (tell the seller it's just to make the contract official); and then advertise it on CL; if you have a good deal, you won't have a problem finding a buyer!
I am also very interested in hearing about your results-keep us posted!
Wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
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Before I lock up the house under contract on Craigslist and such? I thought you had to be the owner to do that? Also If I can: how do you do general ads on Craigslist, such as, handyman special, owner desperate to sell, duplex, etc? Tammy
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.