OfflineI put in my first offer today on Prospect #1 listed as a (3/2)w/Full Basement (exterior entrance only):
List price:$12k
Offer: $6k
EMD: $1000
Offer cash, 7 day inspection contingency, 10 day close (not including Saturday & Sunday)
Year blt:1960
SQFT:1196
Assessor's appraised value(total): $80,100
zestimate:$135,500 value range $98,915-$146,340
cyberhomes: $59,499
Bonus room could be possible 4th bedroom b/c has closet.
"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.
Thats great and I am so proud of you !! Looks like a great deal and you have alot of room to play with if u want to sell and make a nice profit on it. Keep on looking for more and plenty out there waiting for you. Once u do your first and it will come easier. Way to go !!
Warm regards,
Paul T. La Moy
Congrats on your first offer. I wish you the best of success!!!
What doesn't kill me,,makes me stronger!
Congrats on the first offer! Let us know how it goes!
Success and Nothing Less!
I just got confirmation from my REA via email 9 minutes ago; that the bank had received my offer and he will let know what they decide whenever he hears something back from the LA. I gotta go pray on this so that God will Will asset manager to make the decision in my favor. Pray salah (or just say a prayer) for me.
"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.
How cool is that! I will definately say a prayer that a decision be made in your favor. Keep us posted.
No word back on that offer, so I'm off to go look at other possible deals. I have classes starting this upcoming week so I'm going to be juggling classes and REI. Yeepee the good thing is I get my camera Wednesday so I'll be able to take pictures of places I tour to keep for my records which ones I like which ones I don't.
"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.
Congratulations on submitting your first offer. You may want to keep this property on your radar and submit another offer in the future. A seller's motivation can change from week to week. The more properties you view the more experience and offers will come. Good luck on you future deals. Belieev and Achieve!
- Joe
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Congrats on making your first offer!!! Does the home need any work to be done to it, and if so how much work is needed? Let me know and keep us posted. I hope your offer is accepted! Best of luck.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Thanks Indiana Jones!
@Jeremy: It does need alot of work interiorly; with electrical panel needs updating & along with possible updating of wiring throughout the entire house & paint, that's why I offer so low plus with what the comps dictate for the area. I email my REA yesterday evening to resubmit the offer exactly as is giving them until Friday this week to respond. I might email him this morning and have him remove the inspection contingency. I'll just get an inspection done anyways to know what is exactly wrong with the house's systems. I'll keep you all posted.
"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.
They rejected my offer w/o counter stating it was too Low, wasn't in the Principals best interest. LOL So I sent my REA a reply email requesting for them to present their counter offer. We'll see what their response is. If not I'll keep it on my radar and see if the price drops next month.
"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.
Like we said "Failure is not an option." Alana that's exactly what you have to do, even though you are requesting a counter, still be optimistic that the price will drop or they will call you back. Trust me, they do not throw away any offer contact they get, but file it away as future reference. If they do call you, the ball is now in your court to negotiate. It will work out. Congrats on putting in the offer. Good Luck and God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
You're unchained now! Go get those properties. Save some for the rest of us though.
Greg
They still didn't even want to entertain a counter offer b/c of my low offer; so I had my REA send over my "Best and Final" cash offer. I'm moving on; I have two other deals in my sights, I'm not going get hung up on this one deal. It's their lost, not mines!
"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 just re-read your numbers. You can get 125k houses for 12k out where you are?!?! That's incredible. The only thing 12k will buy us in New England is a used Honda. That is great for you. I'm jealous of those types of opportunities. The cheapest steal I've found out my way is 89k (and that is WAY cheap out here. Most are well over 125k (and those would be great deals for us too).
Anyway, just interesting to see the differences throughout the US.
Continued luck!!!
Greg
@Greg: yeah but people are not paying that price, in these areas, where I'm can invest for that value. Current fair market value is a little over half of $125K Some areas of Atlanta have held their value pretty well in this recession even with the amount of foreclosures spread out over the metro. Largest concentration of foreclosures are in SW quadrant of Metro.
Still no word on my second offer.
"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.
@Altcamel: I see. It does sound like you have a lot of opportunity down there though. I can't wait to hear that they've accepted your second (which they will).
Greg
www.porchlightpropertygroup.com
Congratulations on puting in your first offer. Soon you will be confident in putting in multiple offers. Do you have a buyers list established?
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
as I go! I know that's @zz backwards but I rather have something (actually) offer investors to then to waste people's time. Time is money! I want to lock the property under contract then attract the right buyer to right deal!
Lure the catfishes out their hiding spots with tasty morsel.
"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.
Is this an REO or what type of property is it, and how do you plan on wholesaling it? Just curious for ideas.
Success and Nothing Less!
that I plan on buying outright than wholesaling to another investor or regular buyer for a higher price after some minor repairs.
"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.
Apparently the Listing Agent hadn't receive my offer last week; so my REA resubmitted my offer this week. So I have to probably wait another whole week before I hear anything on that offer. I'm keeping my fingers crossed.
"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.
[7.22.09]
7:00a.m.-Another property POP up on the radar, this morning! I email my REA to see if he could get a hold of Listing Agent early this morning to get the access code to Lockbox. I want to try to go see it this morning before I headed off to class.
7:26a.m.-REA emails me back with the access code to Lockbox.
8:36a.m.-With timing of having to rush off to school this morning so that I wouldn't be late to my first class of day & dropping my son off to daycare. I had my REA write up an offer STAT to submit an offer for $7500 Cash on it. So as to lock it up under contract hopefully before anyone else had opportunity too see Listing this morning.
5:24p.m.-Finally, today I receive the Seller's counter for Prospect #1. They countered at $11,500. I rejected their counter offer and walked away! Now I'm waiting to hear a response back on the listing I made the quickie Cash Offer on w/o even seeing the Listing in person this morning. No need to worry; I had my REA put in a contingency for inspection.
6:20p.m.-This evening after I got out of class, I tired to go view the listing I had my REA submit an quick Cash offer on, but the key was missing out of the lockbox. Apparently somebody had been by to view the property and hadn't return the key(s) back to the Black combination box. So now its another hurry up and wait for response game that me and Lender play.
"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.
Alana, I believe somebody willfully walked off and kept the keys to put in an offer. Were you able to see enough of the outer structure and peep through the windows. I really pray that you get this property and I still feel that concerning the first property, they will call you back and accept your offer. There is nothing that could stop you now. God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
I could see the inside of it from the front porch window, the other windows were boarded up. It didn't seem as though it needed too much work. Apparently (I'm thinking the same thing also) that's what somebody's intentions were, with regards too the listing price that the listing came on the market for, this morning. But hopefully and prayerfully my offer comes out to be the Winner and not the Loser on this deal. Oh believe me I still have Prospect #1 on my radar. I'm now playing the waiting game for them to make their move with dropping the asking price if no one else makes an offer on it within next 2-3 weeks.
"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.
The second property I made an offer on yesterday, there's Multiple Offers on it, and the Seller is now asking for 'Highest and Best offers so now I'm in thick of competition for that listing with other buyers/investors. I can't go any higher than what I already offered on it. I just can't, don't have the money to cover closing costs and purchase price. And can't get a bank loan for the life of me. So its wait and see. But I'm going to keep searching that is all I can do for now.
"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.
Good luck!
is all I can do. Thanks gfadein.
"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.
Just be persistent and have faith and inshallah everything will work out for you.
Dedicated & Motivated
Shukran
I'm keeping the faith 
God knows best regarding my offer.
In the daily morning emailing (of new listings) I receive from my REA, the listing has been taken off of the market. Don't know whether that's because of numerous multiple offers on it already or that I've probably been outbid. But i haven't receive word yet, from my REA, this morning regarding whats going on. Funny thing, the Prospect #1 listing the offer I rejected, is now the new listing price. LOL Not very much of a change there from OLP to new LP. I have class meeting in few hours. I'm going to call that FSBO see what their asking price & terms are for other property I saw two days ago for sale.
"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.
way to go alana keep at it!!you WILL seal the deal soon with your attitude and non stop ethic!! good luck!!
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