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Updated over 10 years ago on . Most recent reply

User Stats

8
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0
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Dewarren Sanders
  • Real Estate Investor
  • Memphis, TN
0
Votes |
8
Posts

Is my first deal a bad one?

Dewarren Sanders
  • Real Estate Investor
  • Memphis, TN
Posted

I got my first property under contract a few days ago and it seems to be a pretty good deal.  I have been marketing for a buyer for the last 2 days and have not had one lead.  I am hoping that anyone here will be able to look at the stats of my deal and tell me if it is a good or bad deal.

ARV: 107K

Estimated Repairs: 25k

Asking Price: 38k

The property is a duplex if that matters.  I appreciate all help that i get on this.  I am working really hard to close my first deal.

I should also mention that I am doing all of my marketing with no money at all, and i figure if I can find a motivated seller with no marketing budget then i should be able to find an end buyer without one as well.

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