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Updated about 12 years ago on . Most recent reply

User Stats

57
Posts
2
Votes
Namon Thorn
  • Hammond, LA
2
Votes |
57
Posts

Possible 1st Deal Need Advice

Namon Thorn
  • Hammond, LA
Posted

01/30/13
Hi BPF,
I have a question regarding making phone offers on SFR's.
I found a house here in Hou-Tx area. I sent the OFR a postcard. Got a response. I found out the owner is interested in possibly selling the house. He said it is general good conidition. He wanted $50K min.offer.
I check around and found 5 simular 2/1 between 885sqft-1210sqft properties that are w/in 5miles of the subject property. The subject porperty is a 2/1 936sqft but the owner says it has an extra room on it that can be used as a 3rd bdrm. Three houses I found that were sold @ $31200, $22,000 $31000 all w/in the last 6mnths.

Possible offers to the seller
Offer#1 I avrgd the total of all three to $84200.00 x.65 = 54,000 - 10,000 (repairs) =
44,730 - $5,000 (my fee)= $39,730.00

Offer#2 Avrg $84,200.00 -$30k = 24,200.00-10000.00(repairs)= 14200.00-3000(my fee)= $11,200.00

What I would like to know is since I have told the owner the most I could offer him for the house is 23k (which I haven't physically been inside yet to look at) how can I make a different lower offer to him creatively? I'm gona view the house sunday coming. I review the numbers and came up with $11,200-$17,500.00 to make an offer somewhere in between after I look at the house. What do you guys/gals think if you understand all that. :) Thanks for your response. Give all the constructive critissism you got. Thanks in advance! :)
Namon

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