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Updated almost 9 years ago,

User Stats

49
Posts
14
Votes
Scott Egbert
  • Investor
  • Shelton, WA
14
Votes |
49
Posts

First Wholesale Lead! Need Advice Please.

Scott Egbert
  • Investor
  • Shelton, WA
Posted

I received my first lead today!  Very exciting stuff.  I need more perspective on what an investor would buy at so I can make on offer.  This one has some details that I'm not sure about.  I just want to do a good job and make sure the end buyer gets a good deal.  Please tell what you would do or give your advice.  So here is the deets!

Newer Manufacture Home on .25 acre in Shelton, WA .. C Neighborhood

Buyer says 3 Bed 2 Bath  1,120 sq ft

Assessed @ 79k

Comps at 75k

Has renter at 650 now 

Property Management in the area says rent should be $1,000, if the market softened $900. (if it's a 3/2)

He states the roof just needs cleaned and the dishwasher is broken.

Interesting parts:

The final inspection was never signed off in 2013!  (The notes are below in all caps.)  Also,  there is not record of the "As-Built"?

So the question is, is this worth pursuing?  If so, what is a good purchase price for an investor?

Thank!

Scott

INSPECTION NOTES:

DescriptionDate AssignedDate DoneStatusAssigned ToDone By
Final Inspection-Failed01/29/201301/30/2013FAIL

NOTE: EACH INSPECTION WILL NEED TO PAY RE-INSPECTION FREE PRIOR $73
1. MULTIPLE LOCATION SCREEN FOR CRAWL VENT MISSING. REPLACE/REPAIR TO MEET CODE. MAX SCREENING 1/4" OPENINGS. NOTE: SOME LOCATIONS SKIRTING HAS BEEN DAMAGED AND DEBRIS HAS FALLEN IN OR GOTTEN IN SOMEHOW AT OPENING. REMOVE AND CLEAN OUT ALL DEBRIS FROM CRAWL.
2. AT BOTH FRONT AND REAR STEPS RISER AT STAIRS ARE NOT EQUAL. RISER MAY VARY MAX 3/8" FROM TOP TO BOTTOM. MAY NEED TO LOWER GRADE AT LANDING TO OBTAIN REQUIRED RISERS
3. GRASPABLE HANDRAIL AT FRONT NEEDS TO BE RE-SECURED. VERY LOOSE AT BOTTOM. MUST BE ABLE TO WITHSTAND 200# FORCE
4. INSTALL SPLASH BLOCK AT ALL DOWNSPOUTS
5. ALL GRADED TO SLOPE AWAY FROM UNIT MIN 2% MULTIPLE LOCATION GRADER SLOPES BACK TO UNIT
6. HWT PRESSURE RELIEF LINE TO MAINTAIN MIN 6-24 CLEARANCE FROM GRADE AT TERMINATION. MAY NEED AREA WELL
7. CRAWL ACCRESS TO BE SEALED AS TO PREVENT ANIMALS AND PESTS FROM ENTERING. MAX OPENING 1/4". ALL MATERIAL TO BE RATED FOR EXT. EXPOSURE
8. DRY VENT TERMINATION MISSING FLAPS (LOUVERS) AND PIPE DISCONNECTED FROM TERMINATION. REPAIR OR INSTALL NEW ONE TO MEET CODE REQUIREMENTS.
CALL FOR RE-INSPECTION WHEN CORRECTIONS ARE MADE BEFORE CONTINUING.

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