All Forum Posts by: Adam Gratt

Thank you Aaron and Bob, I was curious to see what people base the price on. Some can remodel the house but there are structural issues or they can demo the house and make more. I wanted to see, do I base it off of the house on it right now minus repairs and at 65% or do I just base the asking price off of just land? I guess it would depend on what the investor wants to do with it.

Scott,

The house is in Oxnard California and the lot size is 6041 sqft which looks like it is just for one of the lots. As far as selling separate I will have to check but the lots are one right now. The average SOLD cost per sqft is between $622 and $667 (2012). The average PENDING price per sqft is $1,095. He says the permits for the zoning are done and he even already has plans drawn up for both properties. I am still working on the price per sqft for new construction. I do not know what the requirements are by the neighborhood but by looking at the houses that are fairly new to the area I don't see anything major. I have talked to a realtor in the area and she says 3.75M for a 6 bed/6bath is right on price. She said just the raw land right now is going for between 1.4-1.7M. What gives this property more room for growth is that the property line goes out 15 feet beyond the rest of the houses which will give a north/south view which the realtor says adds a few 100K to the total. I hope I have answered your questions. If there is anything else please let me know.

I am getting a property under contract that has a 6 Bed/ 6 Bath house on it right on the beach. It is one of the last old houses on a big lot which has now been subdivided into two lots. It is an older house which will need to be torn down and two new house built. Comps in the area are 3.75M for a 6Bed /6Bath. So I would like to know is what would someone be willing to pay for these two properties?

Your awesome. Thank you. That really helped.

I am looking at getting a property under contract but it looks like I need to talk to the bank on her behalf. What documents do I need the seller to sign? Is it the same as when I wholesale?

Thank you.

Thanks guys for the hell. I recently moved to Ventura and when I looked on Meetup there was one on there but no meet ups. I will definitely sign up today.

I am recently new to the Ventura Area and have been building my wholesale business ever since I arrived here. I talked with Josh and he is very supportive on creating a BiggerPockets meet up. I would like to know if any of our BP members would like to start one. If you live in the Ventura County area and would like to start a meet up group please respond.

I am new to wholesaling and I was wondering if you could share your contract with me.