OfflineI made a goal that 2010 is going to be the year I succeed.
So I called my first seller today, a fsbo.I was really nervous.Now he has a 2 family for sale.
Asking $225,000
built 1918
sqft 1,482
Lot 4,499 sqft
now the estimates that got from deans site are.
$341,790
$341,500
$359,967
Thats like a 35% discount
The house could use a complete renovation. It is liveble.The house next door was torn down and rebuild.I did all the masonry work on the house.As I talked to him he said he has another property for sale that zoned for commecial/residential.When I looked at the property it sits in the middle of shops. It looks like it doesn't belong.The lot looks like a rectangle and the house is no bigger than 10ft by 10ft.
What will be a idea is to ask the buisness if they would like to buy the property so they have more room.
He is asking $190,000.He said he has plans that he wiil sell with property for $200,000.I tried to pull up estimates but nothing was coming up.
I would want do an assignment on this deal I don't have funding or a partner
I would like to lock both properties up.I'm still nervous .this is as far as I got since joining this site
I emailed a few buyers If they are still buying but haven't heard back yet.
I will appreciate and in sight
In order to Succeed your desire for Success should be greater than your Fear of Failure. Bill Cosby.
Some people dream of Success.... While others wake up and work hard at it
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So, the property is a 2 family correct? It needs rehab? Do you have have any idea on the estimate of how much it'd be to do the work? If this is something that you would not want to hold then you CAN do an ASSIGNMENT! You do not need funds or a partner, you just need to have a buyers list. If you find a buyer then you can lock it up and pass it off to a buyer for a quick profit. You need to find out the taxes on this duplex, what each apt. would rent for? Check local apt. for rent ad's in your area to see if this is something you might want to buy and hold. Do you have good credit, can you get a loan? Maybe it would be a good home if you had all numbers and we could see if you'd have positive cash flow or not. You can always run it buy owner and see if he'd hold the mortgage for a while. Or you can lock it up on paper, and then go to the business and see if they would buy it for more than you locked it up for.
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
It is a 2 family.I don't have the credit to get a loan. Thats why I want to assign it.The rehabe can range to simple rehab to a whole tear down. Thats how it is where I live.So really it depends on the buyer.I live by the shore so in the summer its extremly busy. Vaction spot
The taxes are $3,329
I am going to run another ad to locate more buyers.
Thanks for the respone Jeremy
In order to Succeed your desire for Success should be greater than your Fear of Failure. Bill Cosby.
Some people dream of Success.... While others wake up and work hard at it
Join me on Facebook. www.Facebook.com/ortizrealestateinvestments