All Forum Posts by: Brandon Proctor

So I attended this free financial seminar last night at my local church and the speaker mentioned on many accounts that he invest in RE. He also says he dabbles in other ventures such as stocks, gold and silver and IRAs.

I was wondering if many other investors thought this way as well, investing in other assets other than real estate. I was thinking what he does doesn't sound like a terrible idea but at the same time I figured that being invested in so much could turn sour.

Insight please.

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thanks for all the information guys! I will contract the seller this week.

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Originally posted by @Steve G.:

Hi @Brandon Proctor - did you get the list from Listsource?

I did! It worked great.

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Congratulations! I'm also trying to get my first deal under my belt.

1 Vote

You could invest in two homes with that 45k.

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Originally posted by @Derek T.:

What are the comps and how much land do they have with them?

The comps are in the 200k area but not with as many acres.

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Originally posted by @Jeremy Tillotson:

@Brandon Proctor I would price it based on other comps close by, do they also have larger plots? If not just try to get the ground as a bonus, just my .02

The plots around the property aren't as big as the sellers. He already said the 10 acres comes with the house. Not sure if I mentioned that.

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Originally posted by @Elizabeth Colegrove:

That's not a deal! 15k gross off the lowest number saying nothing goes wrong. I wouldn't trust a seller! If it was "so easy" why doesn't he just sell it. As a buy and hold in a popular neighborhood, that "might" be great but as a flip I would stay away.

Definitely not a buy and hold (I wouldn't think) the house is further out of the city with lots of land but not much in sqft for the house. The seller seemed like a honest older gentleman, he gave me a ton of good and bad about the home while I was taking pictures and looking the house over.

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Originally posted by @Joel Owens:

"Comps 200-300k"

The highest and best use sounds like it might be the 10 acres of land and not the house.

200k to 300k is too much of a range.

Take 200k and then 35k of repairs and factor is asking of 150k and there is no money left.

The repairs will likely be higher an resale price lower. Selling price is a factor of how fast it needs to sell and also time of the year you are selling.

Exactly, I have run 4 different ARV numbers and only 2 come to be decent. Of course they were the higher ARV prices which I don't know if the house will be able to sale at those prices.

Also the house wasn't in terrible shape, the original owner and the current owner took good care of the home.

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All Forum Posts by: Brandon Proctor

Brandon Proctor has started 36 posts and replied 231 times.

Post: Are you Only a Real Estate Investor?

Post: Are you Only a Real Estate Investor?

Post: Offering on Pre-foreclosure

Post: Listsource Queston

Post: Success on our first investment!

Post: how to begin wholesaling

Post: House on 10 acres

Post: House on 10 acres

Post: Potential Deal?

Post: Potential Deal?