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Updated over 11 years ago on . Most recent reply

User Stats

52
Posts
5
Votes
Jesus Villarreal
  • Investor
  • Abilene, TX
5
Votes |
52
Posts

Advice needed on first deal

Jesus Villarreal
  • Investor
  • Abilene, TX
Posted

I've been driving my neighborhoods, talking to home owners and advertising via Craigslist, and I'm at a place where I have a chance at two properties.

The first : 2 bed , 1 bath home 800sqft . Seller is asking $16,000 I plan on offering $14,000. The home is investor potential , needing hardly any repairs and ready for tenants. My real estate agent states we could quick sale for $25,000.

The second: 3 bed two bath, needing 6k in repairs . The owner is at $50,000 and I'm wanting to offer 42k. Re agent states house should bring in 75k.

If these deals have good potential what type of loan would you recommend, given that I would like to sell quick and not use any of my money?

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