All Forum Posts by: Brad T.

Ivan Roberts why wait until you have $80k to start buying?

Welcome to the site, @Mike Giudici

It is always nice to see local investors on here.

Best of luck as you dive into your own real estate investments.

I think the pre-market that Carrie is referring to is the pre-foreclosure listings. No I haven't used them but I was wondering the same thing.

Everyone seems to talk about the highest and best use of their time during a rehab saying that you are an employee and not an investor if you are doing rehab work yourself. I consider myself an investor and I do some work myself and hire the rest out. If you are only doing 1 house at a time and able to get the work done fast, then what is the big deal? The highest and best use comment to me implies that you have unlimited amounts of money and have many houses going doesn't it? How do you guys get so many deals going at once?

Has anyone heard of this website?

distressedpro.com

It claims to have lists of REOs that include local & regional banks and even some off market REOs. It is a subscription website that sounds too good to be true. Anyone have any input on this?

Thanks!

Is this a single family home? I am financing one at 5.25% for 30 years right now with a conventional 20% down mortgage.

Yes, maybe lazy is a bit harsh. I guess my point was that the comps should determine the value and not the price paid for the house getting appraised.

I would say the Zillow estimate of $51k is about right. I have a house about 1/2 mile North of there. The schools are not that great and that area has been hit really hard with foreclosures. Bryan H.

We just had an appraisal come back today on a house for $89k that we have under contract for $75k. Distressed properties should sell for less than appraisal value. Seems to me that when the appraisal comes in at the purchase price, you have a lazy appraiser.

What city is it in? Just like anywhere else, the value will vary greatly from city to city.