Do I Have A Deal Or NOt??? Please Help Me

Has the agent given you comps? When you say "improved value", are you saying that's the ARV (after repair value), or the value of the "improvements" (buildings) according to the tax statement?
Finally, what are you planning to do with the property?

Rina

its the improvement value on the tax statements, i have got the comps sheet back just yet, Im working on that right this moment. Im planning assigning it to another investor.Hopefully

This part sounds like a really good start!

This is the interesting part. Maybe when you look at the prop, you'll see why it sold so cheap. OR maybe it was an investor that picked it up cheap and put some work into it. I guess you'll find out.
Your comps will give you much more info to work with for making an offer. And remember location is very important, too.

Good luck Bryan. Keep us posted on what you find out.

Rina

Follow Rina's advice, go by the comps. Another question to ask is why is it being sold a year later? Do you have an investor to assign this deal to. You could always buy and hold the prop......Jan

thanks for your reply and support. I don't know why I stopped coming on here. I'll follow your advice and keep you guys posted. I have not yet shopped it to any of my investors, and I thought it be best to wait until I at least got an accepted offer. If i'm wrong I don't mind being corrected. And as for holding on to it. I didn't think I had the means to do so. Still new at this.

Hello Bryan Sr. It's great to see another newbie taking action! I agree with some of the comments above as to why the home sold only a year later. I would suggest digging deep and using some suggestions from Deans book such as checking out the neighborhood(daytime and nite). Maybe it's a sketchy place,maybe some other hidden factor, anyways that's just one idea but definately do your homework on it so you're not buying someone's headache. The market was better a year ago so why is it selling for more this year?See if you can roll the 2k down payment into the loan or some other creative way to possibly make the deal no money down...?Never hurts to ask. Also check rental comparisons in area to see what kind of money you could potentially get for rent if you bought and held. A realtor can probably help with rental comps. I drive around and call other "for rent" signs in that particular neighborhood and just ask what they are charging for their house. Good luck and keep us posted!

WE WERE ALL NEW AT THIS, DON'T LET THAT STOP YOU....GO FOR THE GUSTO!!!!...Jan

I am really new to this as well. But it sounds like it might be a good deal. Maybe you can even buy it yourself instead of assigning it if you can, and rent it out for positive cash flow, then sell for a big profit in a year or when the market goes back up. Keep us posted on what you do. Jeremy