Offlinethe home i came across was a FIX-FIX-FIX IT UP CAUSE IT IS BEYOND DAMAGE. the family who rented the home before, had a problem, they were both suffering from a horde problem. now the landlord or the owner refuses to do anything for the property.
the house is a 4bd/2ba, 2 car garage and sits on 1 acre.
the mess they have in the house is alot of old records, books video tapes, cassett tapes clothes, electronics, office supplies, toys, and more. they also left two vehicles. a small sedan looking car and a van with some tras and stuff in there too. the seller said no one was interested because of the amount of the rehab or even the thought of cleaning it up. oh and you could hardly see the house because the weeds are like from a jungle and has not been mowed for three years.
now for some strange reason, i saw a beutiful house and property before me. we had permission from the seller to go look at the property. the house is unopened DG family, and the seller does not care about it.
now for the offer that the seller gave me was,
30,000 sale price as is, or 500 down, 6 mo free, and 400mo for ten years as is. i did not counter offer yet.
What do you think? if any one wants this deal great, it will be my first, but i would want it to make this work.
i will be working on this property within this week, so advice please, or if you have a new suggestion for better deal i can ofer for the seller.
or if ou want to partner up where you can provide the funds for the deal and i can do all the work for a flip, sell it and split the profit or somthing. just anything. thank you...
PLEDGE ALLIGENCE TO THE SWAG
Where is the property located?
In Christ alone, I place my trust.
the property is here near Fort Lenoard Wood, mo.
PLEDGE ALLIGENCE TO THE SWAG
Do you have the ARV?
Together, we can be successful!
The ARV for the property? i did not up it up yet, but i will post it up as soon as possible.
stay posted, and thank you
PLEDGE ALLIGENCE TO THE SWAG
Is this anywhere near Springfield or St. Louis or in the suburbs? It sounds like a huge mess to clean up, and a money maker on the stuff that's there. Maybe you can get salvaged titles for the cars? What's the square footage? Thanks, saelua.
i was always scared or i lack confidance about doing this cause i dont know anything about real estate, but with books and the motivational support from DGs, i will make it happen.
thank you
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its in the middle of st.louis and springfield. im about 25 minutes to rolla,mo. thats good idea making salvage titles for the cars.im trying to see who buys old records and cars, and i think the recycle center buys scrap metal. so im trying to work that out and see how much i can sell these stuff so the money can be put to restore this future home for a family or make this my first investment property.
the hose is a two story house with two car garages, setting on a 1 acre land, with the view of the yardand hills. its out of city limits and make as a country set.
PLEDGE ALLIGENCE TO THE SWAG
You need to determine what it will cost to clean out the place and then to rehab/remodel it to the standard your exit strategy calls for.
In other words do you plan on renting or fix and flip? For a rental you do not have to fix it up as nice as a fix/flip.
You then need to determine what the property will actually SELL or RENT for in this market after you clean and fix it up.
When you can supply these numbers in an accurate manner you will know if what the seller wants is actually a good deal.
Time to contact realtors and contractors! Let the real learning process begin!!
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 called a friend, who is trying to retire fromreal estate, old timer investor, good friend. he told these exact sugestions you are saying. he also suggested me to not about how to sell the junk in the property, which he said was a good idea, but figure out the plumbing of the house and the roof, the mold problem, the furnace electric wirings, heater and cold water, ceptic, and the whole acre. he sugested to call a handyman to inspect and compare estimates.
but i think ishould also take your advice of calling a realtor on the rent range.
thank you for that.
i am planning on making this home as an investment property and rent it out, BUTWHAT DO YOU MEAN BY THE DIFFERANCE AS TO REMOLDING AS A RENTAL IS DIFFERANT AS TO REMOLDING IT AS A SALE PROPERTY?
sorry for asking, but that sounds interesting.
PLEDGE ALLIGENCE TO THE SWAG