My first offer(s)

[Hannah Shields]

Hey everyone. Totally new here but I wanted to run a couple deals by everyone to see if you could see any major roadblocks or potholes in the plan.

First offer - 1902 victorian 3 bed, 1 bath house in a neighborhood that has been under revitalization for the last few years. Homes are still in the affordable range but adjacent to a very wealthy area and values are going up. Close to schools, downtown businesses, weekly year-round farmers market and hospitals.This house sits on arterial through this quaint district. House is livable but a few thousand could refinish the hardwood floors that currently sit under nasty vinyl. The house is recently on the market for 110K, offered 90K today. Rent in area for this size home is $1200 easy. Owner moved out of state and is motivated to sell.

Second offer - 1909 craftsman 3 bed, 1 bath house in near perfect condition. Listing agent disclosed mold in basement but we called out a mold specialist in our area to take a look before submitting an offer and he confirmed it was very minor and easy to fix and prevent in future. Basement needs about 3K put into it. House sits directly between two colleges and close to downtown shops and businesses. This is currently a shortsale that has bank approval. Owners owe 130K on it and are 21K in arrears. The current shortsale price is 90K. We offered 75K today. Renters were in it up until last week and were paying $1000 a month.

Any thoughts or suggestions would be very appreciated!!! Thanks!!!

Hannah