Looking For Homes $150,000 Or More Below Market Value?

Question

Looking for homes $150,000 or more below market value throughout Maryland? I'm a licensed real estate agent that specializes in finding deeply discounted properties through foreclosures, probate, distressed sellers, HUD, auctions, etc. If you need help finding one feel free to give me a call.

Russell Brazil · Answer

I'm looking for a flying purple unicorn. Can you help with that?

Chris Seveney · Answer

Sorry but this is my amusement for the day when you state you specialize in finding deeply discounted properties and your method appears to be soliciting on a real estate investor forum "I'm a licensed real estate agent that specializes in finding deeply discounted properties through foreclosures, probate, distressed sellers, HUD, auctions, etc"

Rick H. · Answer

Put down the pipe. Welcome to the BP forum community.Better find a way to add value.

Bob Bishop · Answer

Hello,I'm new on Bigger Pockets and it seems like I have a lot of skeptics. I've been in this business for 20 years, finding deeply discounted properties, instead of me telling you what I've done in the past let me give you a few examples what I've done recently. 1. 1024 Tudor Dr., Crownsville, MD 21032 - my buyers purchased this house for $161,500 and I will have this house on the market for $349,900 by later tonight or tomorrow morning (7/14/16). You can google this home and see what they paid for it and you will see what the sales price is.2. 3807 Quincy St., Brentwood, MD 20722 - list price for this home is $99,900, my client won the bid on this home and it is worth $380,000, we are closing on this house tomorrow (7/15/16) . Again, you can google this home and see the purchase price.3. 208 Glen Rd., Pasadena, MD 21122 - my clients purchased this home for $166,000 and it is on the market now for $389,900. Once again, google it and you will see it.When I say I find homes for $150,000 - $200,000 below market value, it does not mean you will make that as a profit. These homes you have to put in $60,000 - $90,000 worth of repairs (plus or minus), if you do the work yourself the profits will be a lot more. I am looking for seasoned pros, I'm not looking for newbies. I don't mind helping out newbies with any questions but I'm looking for the seasoned pro.If you're a seasoned pro and you need more proof than this please let me know and I will send it to you. Any home that I recommend I will send you 3 comps within 1/4 mile or 1 mile depending on what location it is. If you have any other questions please feel free to give me a call.I wish you the best. Bob BishopTaylor Properties443-742-2093

Russell Brazil · Answer

You are selling the properties for their market value not below their market value. I think you misunderstand what market value is. Condition plays a huge factor in a properties market value. Improving the property often leads to a higher market value, but not always. I can easily find properties $400k below their ARV. But I can not find properties $400k below market value.

Bob Bishop · Answer

Hello Chris,When I say I find homes $150,000 - $200,000+ below market value I assume people know it's a fixer upper, if they were not fixer uppers I wouldn't be advertising, I'd be buying them myself. Forgive me, I'm not trying to be rude but that is the truth.I also have homes that are $70,000 - $90,000 below market value that only need carpet, paint and a few minor repairs to be done. All said and done it makes a great rental or you can walk away with $20,000 - $40,000 worth of profits.I use expensive software, many websites, many people, wholesalers, etc. to help me find these deals. If I can help you please let me know. Thank you.

Chris Seveney · Answer

Bob Bishop Welcome to BP. I recommend rewording your post to say "looking for fixer uppers / rehab that are $150k below ARV pre-repairs. The way people were interpreting it was you were looking for wholesale deals $150k below market value which is how it reads. I Would recommend you add a photo as well. Having a photo gives a lot more credence.

Greg H. · Answer

@Bob BishopI think every investor on BP would be interested in one of those . Can you consistently deliver that product ? If so, I would bet the there would be a line of local investors lined up outside your door.

Penny Clark · Answer

Sorry, just noticed the category, oops!

Penny Clark · Answer

@Bob Bishop, Welcome to BP! I know there are people in your state who could use your services, but this post is better suited for the Marketplace. You might want to tell a little about yourself and your investment goals first and share some info about your expertise in this area.