Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 17 years ago,
Is this a deal?
Hello,
I am new, but learning a lot, and my last post was just like this one - seeking opinions on a possible deal.
In my area I found an REO on the MLS for $70K, while other houses that are comparable on paper are listed for nearly $100K and selling. This house needs TLC, but the ARV is probably $80-90K, right? (if similar houses are selling listed at $100)
Obviously I have no idea what kind of work needs to be done on this place. Should I call the realtor and get a showing? Drive by and peek in the windows?
If this is a deal, I will not be surprised if it slips out from under me b/c I waited too long. I want to wholesale the property, but at this time I don't have a buyers list, so I would have to make one fast.
How should I find out what repairs are needed?
Thanks!!
Ben