What Would You Do With This House
I have a 3 bedroom ranch under contract for 82k.
The owner wants out he is moving out of state Mid April.
I had a Realtor view the place with me after I had it under contract. I hadn't bought anything in this town before ( about 1/2 hr away) and wanted her to do a CMA on the property to check my figures.
BTW she had no idea of what I had it under for but knew I was trying to verify its value.
She came up with a selling price of 122K as is. ( I had 120K)
Or with about about 3k worth of sprucing up (clean and paint) a selling price of btwn. 132K-135K with a market time of under 6 weeks. Which is reasonable.
I have always closed on my own contracts done my own work and resold the property. (I have yet to flip one but I always make the contract assignable)
Just reciently I starting to use a couple of guys who paint ect. They do great work and dont cost a fortune
I have financing in place so thats not an issue.
I paid the realtor $100 for the CMA so if I sold it on my own at least she recieved something for her effort.
My question is would YOU close on this house yourself, try to flip it or?
Does it seem skinny?
I will more than likely close on this place myself, have my guys fix er up and put her back up on the market.
I have never even heard the word seasoning out of a bankers mouth up here unless they were swapping recipes.
I just wanted to get some different views.
Thanks in advance
JohnNH
Dear John, By the time you get this letter Stan will have moved www.in.The Children love him. Yes I have filed for divorce. I do hope you are enjoying your life driving hummers up and down the road to Bagdhad. Your pay assignments are coming in every month. I guess the $20 left for you is enough. Well thanks for your time. your soon to be ex wife.
Dear John, sorry it just takes me back so many years ago. All my life having received several such letters, I have wanted to write one. There now!
You are doing fine just take it one by one. What you have created is a classic rollover. Just keep it up and on your next deal get tighter in your negotiation and pick up more value going in.
The next level up is when you add a bathroom and another bedroom and drive your price way high in return on the investment.
Looks good, keep it simple Lucius
Lufos
After I stopped laughing I figured I would thank you for the encouragement.
Thank You
JohnNH