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Updated over 14 years ago,
PLEASE PLEASE HELP ME WITH MY FIRST DEAL !!!!!!!!!!!
I have watched a lot of deals be done and worked with some other investors, but never done a deal of my own. Now, I getting ready to complete my first deal and I have checked the comps on these properties when I found out about them, got them under contract, and now I am trying to either assign them. I have my buyers list of cash investors but I am not getting any responses. WHATS IS GOING WRONG? Please tell me what you think, all questions, comments, or concerns are welcome. So, here is the information for the properties:
Property #1:
This is a *handyman special* multi-family property available for purchase in Grand Rapids, Michigan, which can be a VERY lucrative income property. Furthermore, it is located in a safe as well as high-demand area, which is within close proximity to downtown Grand Rapids, public transporation, Grand Valley State University, and John Ball Park Zoo. Also, it has two units on one parcel and pictures will be sent later today. If interested, you have questions, or you are in need of more information, please contact me at your earliest convenience because this deal will not last long!!!
(Duplex)
1035 Sibley Street
Grand Rapids, MI, 49504
6 bedroom (can be 7 bedroom)
2 bathroom
Monhtly Rent: $1400-1700
2000 sqft. Poured Concrete Basement
Off-street Parking
Repairs: Drywall (1&2)
Paint (1&2)
Roof (2)
Floors (1&2)
Electrial (1&2)
Kitchen (1&2)
Bathroom (1&2) Porch (1)
Floors (1&2)
Repair Costs: $25,000
(SFR)
211 Pine Avenue
Grand Rapids, MI, 49504
1 bedroom
1 bathroom
Monthly Rent: $550
850 Sqft.
Michigan Basement
Off-street Parking
Repairs: Drywall
Paint
Roof
Floors
Bathroom
Porch
Repair Costs: $17,500
ARV: $82,559
Repair Costs: $42,500
Asking : $20,000 (24% of ARV)
Property #2:
631 Charles Avenue (*Handyman Special*)
Grand Rapids, MI, 49503
Property Type: Residential
Number of Units: 1
Number of Bedrooms: 3
Number of Bathrooms: 1
Numbr of Acres: 0.11
Square feet: 1,950
Asking Price: $7,000
ARV: $60,200
Description of Improvements: *already completed gutted*
(needs new everything inside)
Interior Repairs $25000
Exterior Repairs $4000
Property #3:
NEEDS NO REPAIRS !!!!!!
443 Curtis Avenue
Grand Rapids, MI, 49505
Monthly Rent: $900-$1000
3BR - 1Bath
1116 sq.ft.
1&1/2 Story
LR
Formal DR
Office/Den
Three Season Porch
Michigan Bsmt
New Windows
New Bathroom
New Kitchen Cabinet / Cupboards/ Sink
New carpets and vinyl - on corner of Curtis and alley.
After Repair Value: $60,000
Repair Cost: $0
Asking Price: $35,000 (58% of ARV)
Roof age unknown but in Good condition.
Alley plowed by City regularly for easy access.
Off road Parking.
Also, I have several awesome opportunities for end-contract buyers. Although, I can't find anyone to purchase these cash notes and I do not want to hold them.