My Deals

Assign to.

I have been tring to find deals to assign to other investors. I have found, what I think are deals. But the investor is telling me he needs to pay some rediculous amount for him to buy it (take assignment) from me. Here is one of the deals:

3 br 2 full bath
1800 sf
needs 50-60k in repairs
ARV 280-300

He said the most he would pay for this would be 120k! I was like WTF are you smoking crack. I am thinking he could pay more like 190-200k (If I can get it for 180k). What do you think?

Thanks,
D

My first deal hoping for some feedback.

I found a 3 family with a very motivated seller. He told me he is ready to give the keys to the bank and walk. He has been trying to sell it for 269k with no offers.
He owes 300k on it and back taxes of about 8k. He said the bank told him they do not want the property and to find a buyer and make an offer. 3 families in the area are going for around 225k-250k.

He authorized me to talk to the bank.

I'm contemplating on making an offer for an REO. The bank is asking for 130K. The property is really run down and the violations cited on it have not been addressed. It might take up to 30K-35K to fix. Zillow estimate value between 227K -247K. I want to offer 65K, half of the asking. Is this attractive and profitable?

Next step: I don't know how to make the offer. Should I just write a letter stating my offer?

I'm considering making an offer for a duplex but I don't know what may be fair and attractive to the seller. The property is listed by a Real Estate Agency.

Sale price: $399,000
Zestimate: $335,500
2 Units with tenants
2 Garages
Built in 1900 and has not been appraised recently.
Comps from 269K for single family homes to 514K
Pontential income from rent: $30,000 per year.

What do you suggest as an Offer for this home?

I have recently purchased three homes that need approximately $15,000 in repairs before they are able to be sold or rented. I have tried getting financing through local banks and have received the following responses: Don't lend to builders anymore, Can't refinace until you have own the house for a year or more. I have been working on my credit and have disputed items on my report. The newest response from a bank is too many disputes on my credit report.

Hi,

I was wondering if anyone can comment on my first potential deal. I have not yet provided an offer to the seller.

Prop is selling for 208K and it needs about 25K of repairs. When I went to the bank for financing the bank estimated the house to be 258K. My intent is to offer full price and have the seller pay 22K in closing. My question is what other techniques I can use to restructure the deal that could sound attractive to the seller?
The city assessed the prop at 247K. The average sell price in the area is 259K.

So you don't know anything about rehab? No problem. You don't even know anything about painting?

I've got this deal im working on? Its my friends mother inlaws house. This house is condemned so shes not living in it. It needs a lot of work. The homeowner or my friends mother in law is living with her daughter. She's not working so the house is just sitting there. Now i think the taxes are going to be coming due plus i think that the city is going to be taking her to court because nothing has been done to take care of the condemntion. What kind of a deal could i possibly offer her? What are the first steps i should take?

Hello. I have a 3 br 2 bath split in wilm de. I have it under contract for 230. Looking to assign it for 240. Needs about 10-15 in repairs. ARV is 280-295

Interested?