OfflineI am in the process of getting my business started by establishing a name. I was doing a little research tonight and found a home about 20 miles from me for sale at $2.4 million. I was looking at it out of curiosity. When I went to totalview real estate, the arv is about 1.8 million. The difference peaked my interest.
I have not attempted to build a buyers list, but it is my things to do list when I take vacation during Christmas. So, I know I am out of my league on this one. Should I even try to see what would happen or would anyone else with experience in this forum have an interest?
Joe
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Do you have the numbers flipped around? I don't think any investors would be interested in buying a house that's worth 1.8 million for 2.4 million
"You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do the things you think you cannot do. Tough times never last, but tough people do"
It's advertised for 2.4 million. I am thinking a person could offer 1.5 million.
Here's another one I found on Craigslist. I wonder if this may be a DG student. Anyways, price is $124k. ARV is $180. They claim $0 repairs are needed, but I would be hesitant on that.
"Lots of creative way to cash on this one, retail it for a quick sale below market value, great for owner finance, plenty of space to build or put an additional structure for more rental income. Lots of room for add-on and for parking. Add it to your portfolio and cash flow like crazy."
What are your thoughts?
Go ahead and research your $2.4 mil house as it never hurts to do some research. It might be a bonafide homerun your first time out.....but be careful. Don't jump on it until you understand all the nuances of buying a home at that value. It is different than a bread and butter at $87K.
Lastly, be careful on Craigslist as there is it has become a Liar's Club. Research the deals in every angle you can think of before you commit. Just do your homework.
Always Looking to Acquire Houses | Always Looking to Amaze Investors