Offline52 Budhollow Lane, Willingboro, NJ 08046
Selling Price: $95,000
Remodeling Costs (labor and material combined): $30,000 - strictly cosmetic
ARV: $187,450
ARV is determined by this year's sales of 61 Maplewick Lane, Willingboro, NJ 08046 (DOM:29) of $185,000 and 52 Messenger Lane, Willingboro, NJ 08046 (DOM: 61) of $189,900. Please consult a trusted realtor and not Zillow or other online valuation services to accurately comp this property for the purpose of your own due diligence. In order to view the pictures of this property, visit http://nicsellshousesquick.shutterfly.com/ and proceed to view the second set of pictures.
*** I can provide you with the written repair estimate for this house, if needed.
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Thank you, masseur07. I appreciate the support.
May I ask a question? What percent of ARV did you contract for?
You should look to make 5 to 10 percent of ARV if possible.
Not really sure what your offer was but it appears you should be selling for at least $101,215.00 for starters.
Your minimum profit on this deal should be at least $9,372.50 or 5 percent of ARV.
If you start at 10 percent of ARV or $18,745.00 you can work backwards to the $9,372.50 or 5 percent. This gives you room to negotiate and make a profit somewhere in the middle.
Again, don't know what you contracted for.
Just don't want you to cut yourself short. If you contracted below 65 percent of ARV minus repairs, perhaps you're in the money.
Good Job!
Rodney
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
- Henry David Thoreau
Website that get's results: www.jracrealestateinvestments.com
Hey, thanks, Anointed1! This was actually a short sale I'd been working on since March with my realtor and an attorney for the sellers. The sellers were looking to sell at a minimum of $100,000, but after negotiations between the attorney and the lender, let's just say I had gotten a really nice discount.
Drive on my friend, drive on!
Again, Great Job!
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
- Henry David Thoreau
Website that get's results: www.jracrealestateinvestments.com
Thanks again! I'm working on another short sale that should be finalized within 3 weeks. I'm starting to chase some bank owned stuff now.