OfflineHello everyone,
I have been really looking hard for really good deals. I have been wanting to work on doing assignments, but I found this really good deal on a foreclosure.
This foreclosure is a double lot with a 1392 sq. ft. home, partially fenced, and spacious rooms. They want 75,900 for the home. I have a couple investors that I can call to see about buying the home.
My question is can I handle this like an assignment and make $10,000-$30,000 on this property. It is too good of a deal to let it slip through my fingers. Can you give me some advice on how to handle this deal before it falls through the cracks?
HELP!!!!
All advice will be greatlly appreciated. Thank you so much for all that give help to me and to those like me starting out.
I forgot to let you know that this foreclosure is listed with a real estate agent. Does this mean that it went to auction and it didn't sell? I am not sure where we are at the stages of forclosure. Could it be that the home owners are trying to sell the home before the bank actually closes on it?
I am not sure how to handle this foreclosure and I don't have the money or the credit to buy it. Can I do something like an assignment? Can I offer it to an investor for much more than the home is listed for?
Can someone please help me with this delima?
they want 75k you said. well if fixed up its worth 200k then there may be a deal here. however if its only worth 85k 90 95k then it probably isnt a deal its too skinny. no profit margin.
1. what kind of shape is it in ??
2. what is the arv after repaired value ??
not the only questions to ask yourself but a start.. hope this helps lydon and norma. i know that the dg fam will be here before too long and they will also advise you as to how to proceed.
good luck
walt
How do I figure this arv(after repair value)?
Will this determine how much I could make on the value?
Will this determine if it is worth my time and effort?
I will probably have lost more questions later.