OfflineHello, I not to long read Dean's book and decided to take some action. I got on Dallas Craigslist and found a seller with these details:
Bed/bath: 2+1
Asking Price: $12,000
Owned Free and Clear.
Vacant and boarded up.
I am trying to figure out what to offer. I am having a time finding comps, etc. in that area (it's a lower priced area).
I would like to try and flip this house to another investor. Any ways to help find comps in the area?
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If you work with a realtor, ask them to get you comps or try zillow. Zillow might be high or low, they have a habit of doing that.
A 2 br, 1ba might not get you too much interest though.
Are you going to rehab or just assign to another investor, and if assigning do you have a buyer in place...Jan
Alyiah ,
Use totalviewrealestate.com ( Dean's site ) for sale comps , values , etc.
Use the formula in Dean's book . You want to offer a price that will be attractive to a buyer .
Randy S.
Elkton MD
Thanks you all so much for replying.
Jan, I do not have any buyers yet. I just thought I'd do something and get on Craigslist. I just want to flip/assign the house. No rehabbing for me. Not yet at least.
I did go to Zillow, but the comps were so various it was hard to tell what it could be worth. The seller was asking 12K. The comps in the area for that sam type house was about 14K, 38K. See what I mean?
I was also wondering about dealing with a 2 bedbroom. I had heard that those aren't too good to deal with. Again, I was just trying to do something.
And xbolik, I will check out that website. Do you know the page number in Dean's book where he discusses his formula? I have gone through them ,but don't know where its at?
Thanks again guys for responding.