All Forum Posts by: N/A N/A

Would like to someone to refer me to a website where I can get
condo/co-op estimates

I think I may know how hard mony lenders work but I need some clarirty . I have access to REO's with great investment potential. And instead of bird dogging these deals to other investors, I'd like keep these deals and maximize my profit. So I'm thinking of getting a hard money loan. But not to clear on how that works. Could some body explain it to me. and explain it to me as if the house is $200k
and the comps are $300 and up

If a person has access to an REO list and wants investors or first time home buyers to purchase from the list, but does not have control over them, what should a person charge and how should they structure payment LEGALLY. I was told $10,000 by one person and half of that by another person who was there when I posed this question. They disagreed on the prices but they both agreed on the fact that people would be gaining access to properties that have about $50,000 in equity.

below are some of the prices comps and zillow estimates (Does any body know anything simular to zillow). These are in northern New Jersey
area. I didn't put the addresses because I didn't read all the blog rules and didn't want to seem like I was advertising for any body. Just wanted to Give you a general feel.

182 blog ST 2 FAM (zillow estimate $253,112)
LIST PRICE $189,900 SOLD FOR $245 IN 2004
COMPS
180 blog SOLD FOR $237K IN 2005
185 blog SOLD FOR $302,500 IN 2006
179 blog SOLD FOR $327,500 IN 2006
188 blog SOLD FOR $243K IN 2002

120 blog PLACE (zillow estamate $307,302)
LIST PRICE $194,900 SOLD FOR $325K IN 2005
COMPS
118 blog PLACE SOLD FOR $270K IN 2006
108 blog PLACE SOLD FOR $269K IN 2005
92 blog PLACE SOLD FOR $330 IN 2006
90 blog PLACE SOLD FOR $410 IN 2005

157 blog ST ($254,116)
LIST PRICE $209K SOLD FOR $260 IN 2005
COMPS
158 blog ST SOLD FOR $209K IN 2005
153 blog ST SOLD FOR $245K IN 2005
151 blog ST SOLD FOR $257,500 IN
137 blog ST SOLD FOR $343K IN 2006

1) So how much does any body think investments like thes are worth
2) How should payment be structured (before or after closing)

Any and all advice and criticism, however harsh is welcomed

Thanks

How do you locate inventory that is 70-80% below market value? Where are you located? I am in the Northern, NJ and New York City Metro areas. Other than a short sale, which can take several months to procure, I have found that the highest below market value price has been 40-50% in my area.

If you have access to foreclosure properties with a lot of equity($40k and up), how should you charge people and what should you charge them if they should buy one or multiple properties?