Under contract

Sounds promising. If I were in that region I'd have a look. Are you advertising it? If so, in which ways? Internet/Craiglist, locally?

If I was in the same area I would have a look at it too. Hope you are advertising in some ways. I think the internet is a good way. Let us know how everything works out.

I am locally advertising. I spoke with this one investor and he said he would need to get it below 200. I don't understand why he needs that much equity!?!? Does anyone have any thoughts, or do you think he is just being greedy?

Thanks,
Darren - DE

Yes, he is being greedy. Investors and buyers feel like the have the pick of the litter right now, and they do to an extent, but some of them are over valuing that position and that could be their big mistake when the supply gets a little mopped up. Funny how that works, just a few years ago investors would do circus tricks and give you 5% over asking sight unseen for your property, not they want 55% off. It's a good sign you are on the right side of the market for entry though.

But the best thing is you are talking to investors trying to make something happen. That's a big step most aspiring investors never even make it to. I would chalk that up as a success in a list milestones it takes to complete the deal.

He is not being greedy. He is being causious and better safe than sorry. He does nnot know how good you are. I mean how good you are in inpecting the property and if you have real estimates for the work. The paper work you have prepared may convince him a lot that talk. Offer to send him your paper work. He is also thinking that appraisels tend to be high. So he will be more causios and give himself room for error on the high side.

Do not only advertise local go outside your state. Expand ! People want to move from out of state to your state let them people know too . Remember NEVER LIMIT YOURSELF! Think BIG. Good luck . Sincerly Darrellf334

If I bought it I would be in for 255. So I would make 25K if it sold day 1 with no closing costs. Seems kinda skinny to me when you figure in closing and carrying costs.

What happened on this one?

I had a contingentcy of approval from my partner...(4yr old son)

he didnt approve..

I figured since I couldnt get it assinged for only 10k, I would walk. For my first deal I just want to assign....actually I think if the price was right and the rehab was little I would buy it and fix it and rent it for 2 years than sell in 3-2010. But this one, I just wanted to reassign..

D