Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 14 years ago,

User Stats

6
Posts
0
Votes
Lisa Mason
  • Real Estate Investor
  • Texas
0
Votes |
6
Posts

Brand New REO Investor

Lisa Mason
  • Real Estate Investor
  • Texas
Posted

I'm searching my first potential REO deal and have 2 questions--hope you guys can help me.
1. What is the best strategy for finding a reputable rehabber to provide quotes when I am scouting properties? Do they usually charge for this service?
2. My first property appears to be a diamond in the rough, but has a pool--Any thoughts on liability issues with pools?

In case you are curious, here are the numbers:

3/2, 2 living areas, 2 car garage - 1869sqft
Nice family suburb
ARV: $150K (CMA)
List Price: $117K
Repairs: $20K (conservative guess, but needs new carpet and paint, new fence, minor roof repairs, landscape trimming of trees/bushes, pool water was green--Eww!, and back glass door busted from a possible burglary)
Potential 1st offer: $90K

Please feel free to tear this apart--I'm so green, you could mistake me for a leprechaun.....but I'm ready to start doing BUSINESS!!

Loading replies...