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Updated over 8 years ago,

User Stats

90
Posts
25
Votes
Brandon Connell
  • Investor
  • Galesburg, IL
25
Votes |
90
Posts

Alabama investors, can I get a little help?

Brandon Connell
  • Investor
  • Galesburg, IL
Posted

I got a lead from Alexandria, AL from a homeowner who hasn't lived in the property for 6 years or more. It needs nearly NOTHING in repairs. A small water leak was repaired and the ceiling needs a little fixing, and the back porch needs updating/replaced. Other than that, the house is beautiful.

He owes $138k and that's what he is asking for the property. I ran some comps. The Zestimate which is always inflated (except in certain cases) is around $148k. The market value was around $152k in '13. This property is near retail. But would it be a good wholesale deal due to not needing repairs?

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