OfflineI have a possible deal where the seller is asking $190k for a 3bed/2bth home in a good part of the city.there have been 11 sales in the past year, 5 in the last 6 months,with an average sale of $233,150. Rent is in the range of $1200. And from what I can see the propert doesn't need to much work, probably newer appliances, a touch up of paint(im goin in for another look with my contractor).
Now if it is REO, I'm think Land Trust, so I can assign rights over. If not then just and/or assigns. But I want to know what is a suggestion of an offer I should make.
Thanks for your help family.
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Hello All
Yes the queen is fairly a newbie, but interested in assignments initially for starters. Read Deans literature and looking for advice on getting started with process of doing assignments, share your knowledge. It's a pleasure being with the group.
instead of "and/or assigns" to get around them rejecting AOC for lenders if it's a REO. Otherwise you should be just find doing AOC with regular homeowner. See what numbers your contractors comes up with first for repairs deduct that, deduct closing costs, your profit % or amt and any other closes that are necessary to come up with what you're going to offer.
Now if it is REO, I'm think Land Trust, so I can assign rights over. If not then just and/or assigns. But I want to know what is a suggestion of an offer I should make.
Thanks for your help family.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Thanks for the response, any idea of how much for closing, and would I deduct that before or after I take the 30% below fair market?
The amount I want to offer is at least 30%below fair, so that way with everything else it is low enough for a significant profit.
Go For The Gold
http://buyinghomesinsacramento.buyforeclosing.com/
Follow my progress in this great journey we call R.E.I.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58454/...
free iphone 4 http://www.YourFreeiPhone.com/index.php?ref=6520672
Yes the queen is fairly a newbie, but interested in assignments initially for starters. Read Deans literature and looking for advice on getting started with process of doing assignments, share your knowledge. It's a pleasure being with the group.
Thanx for this post as well. I have read Deans book three times and I am just getting a grasp of its content. I just post questions for details from the more experience DG family members.
Go For The Gold
http://buyinghomesinsacramento.buyforeclosing.com/
Follow my progress in this great journey we call R.E.I.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58454/...
free iphone 4 http://www.YourFreeiPhone.com/index.php?ref=6520672
is usually 4% (+/- 1%). Calculate also costs if you're going to use a REA in future to help you sell it. If 30% is your target I wouldn't go any lower but it's entirely up to You what you offer her/him.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I appreciate your assistance. Im actually just looking to assign the deal, I just wanted to have all my figures straight before I present it to my investors.
Go For The Gold
http://buyinghomesinsacramento.buyforeclosing.com/
Follow my progress in this great journey we call R.E.I.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58454/...
free iphone 4 http://www.YourFreeiPhone.com/index.php?ref=6520672