All Forum Posts by: Bernard H.

Property is currently being listed for 90K. Very little showings are taking place right now. He owes 75K. He lives out of state and really needs to let this go. 3/1 at 1200 SF. Pretty good location. The property needs carpeting or flooring, definitely kitchen flooring. Moderate update to the overall kitchen, the bathroom is okay. All windows need to be replaced. Other minor issues, loose railing on front porch. AVR on a reasonable rehab, around 130K. I think he'll accept 80k, 75K to satisfy the loan and 3-4 thousand. I'm thinking a subject to. Just so that I'm clear on a subject to, the loan remains in owners name, the deed would be signed over to myself. Deal or no Deal and am I missing something. Thanks 

Thanks guys, I really appreciate the quick responses. 80% AVR would help the situation and if she’s able to bring repair cost down.  Again she owes 121K , lives in 11 hours away and desperately needs to get rid of the property. She’s got resources, but they’re limited.  The great news, the house is in a killer neighborhood and it’s got a great floor plan with good bones on a corner lot brick.  Again thanks.  Obviously whoever buys it will probably need cash.  

Thanks

I could use some advice  and or recommendations on what to do in a situation. I have a somewhat motivated seller, at least I think they're motivated. They have a house in one state and another one in another part of the country. I'm a license real estate agent and met them doing yard work about 3-4 months ago. The house has been vacant for years and it needs a ton of work. Comps show around $225,000 after upgrade of course.  $150,000 - $160,000 with things as the are and thats stretching it. When I say a lot of work, I mean a lot of work. Over the last few weeks the seller has done some cleaning , but the process is very slow. The property has been vandalized and infested with rodent at one time. Again, it's starting to come around. I've developed a really good rapport and connection and when I list it, Im wondering if $150,000 is even a reasonable offer. Those that sold for $150,000 were is a little better shape. The kitchens and Baths were dated but in a little better shape. Balance on the property is $121,000. What I'm wondering is if there's a way I could help her with getting out of the property buy either buy it myself with out having to go thru the bank. I knows she's expecting to get at least $20,000 after it's all said and done. I think they're paying  about $1000 a month. I'd guess and say the property needs about $50,000 worth of repairs. Any information would appreciated. 

It was easy conversation. i simply stated that I hadn't received a bill until now and as a result , I'm a couple payments behind and thats not like me. 

Yes, not recently, but its happened before. I'm sure if this is one of those that will say " well you must have signed up online notifications. They were able to fixed the situation and waived the late fee. 

Hello Team, 

Im a licensed real estate here in the Hampton Roads area. All I'm reading is just submit the offer. When submitting an offer on a property, what  form are you using to submit the offer. As a agent, I would use a purchase agreement, but is there a form that a non agent would use to submit an offer on. I was also curious if I needed to consult an attorney to review form prior to submitting the offer. 

Hi Glenn and thanks for responding. I almost forgot I sent this email message. Its taken a while for anyone to respond. Maybe i'm doing something wrong. So what link are you referring too. 

Good BP members, I know this questions been asked many times before, but I'm still not getting what I'm looking for. Maybe it doesn't exist. I'm looking for a low cost website to market real estate and investment business. I have no experience at all in getting started. I

Got a question, can someone share what good looks like. Several suggested it, but I was wondering if someone could share there site for us new investors just getting started. 

Hello BP,

I was wondering if there are other comparable calculators out there that are similar to the ones on BP. I really like to used them, but I'm afraid that by the time I get the hang of how things work, I will have used up my 5 attempts. ( Flips, Rent, BRRRR etc.