First Deal in the works

[Sebastian Bedoya]

Good evening everyone. I've been reading the forums daily and a lot of the questions and road bumps I've come across have been answered. Needless to say I've put my plan to action and have my first possible wholesale deal on the table. I sent out direct mailers earlier this week targeting all absentee owners and yesterday I got a phone call from a seller. @Jeff Rappaport was kind enough to email me a pre-screen sheet to have in front of me with the particular questions I should be asking to see if it is worth pursuing this deal. Well the seller seems very motivated. I made sure to listen and ask the appropriate questions. She mentioned she wanted to get rid of properties and that tenants are difficult to deal with. In my eyes exactly what you want to hear from a seller. I asked about the house and its condition and she mentioned all the work she did on it. I asked about the inside and she couldn't give me a definitive answer and said that would be something I would have to judge for myself. I told her I would call back in 24 hours to possibly set an appointment up to take a look at the house. Zillow lists the house with a market value of 130K. Looking at the surrounding areas there are several homes that list for that price with about relatively the same square footage and there are bigger homes that are actually selling for cheaper. I should mention that this area isn't the greatest but not one of the worse parts of town either. A realtor friend was able to pull some comps from MLS and it seems to be in line with Zillow. Any suggestions on what else I can do to compare prices and come to a conclusion on what the homes value is?

Now on to my next step. I have no idea what the inside looks. I called her back tonight like promised. I've read on here on how important having a proper rapport with people is and being my first deal I certainly do not want to come off as someone who doesn't stick to their word. We both agreed that I can go look at the house this Sunday afternoon. Now I've reached out to a licensed contractor who said he can join me in the walk through and than provide an estimate on repair costs. I believe after Sunday I should be able to come up with a figure and than decide if the property is worth further pursuing. 

Anything can happen from here to Sunday but it is quite exciting having something in the works and starting to see moving parts coming together and focusing on whats next.