All Forum Posts by: Ana N.

Hi all, I got another lead in that I'd like to make an offer on tomorrow.
Any advice on these #s would be appreciated Thanks!

4/2 Frame 2 flat
Each unit is 2 bed/ 1 bath (w/ 1 extra bedroom on 1st fl- sectioned off part of living room for a makeshift bedroom!)
No Garage, Unfinished attic
No Central Heat/ No A/C: (1FL has space heaters, 2nd FL has radiators)
Smaller bedrooms w/ no closets! -only 1 large closet in the back of each unit -off the kitchen

Repairs Estimate: 46k
2 kitchens
2 bathrooms
Roof
15 windows
Central A/C / Heat
Garage
Floors: (1st FL: need kitchen bath, and hallway-rest has newer carpet -2nd FL -needs kitchen, bath, refinish hardwood in other rooms.)
Paint Interior
Doors x 2 -4
Dry wall - 2-4 rooms - repair
20% misc

Comps Note: Until I get MLS access, doing the best I can with sites like ziprealty, redfin, and realtor.com for sold comps.

Best Comp: unfortunately not perfect, but I made adjustments below
6/2 FR 2 FL Sold for $130k 1880 sqft 2 car detached 0.4 miles away Sold 12/13 (4 months ago) Rehabbed 2 flat w/ 3 bedrooms per unit. New windows, floors, kitchens, baths, appliances. Deck and 2 car garage

Adjusted Comp Value: (minus 10k for 1-2 bedrooms, minus 10k for central heat/ac, minus 10k-12 for garage/deck = 100k w/ no garage and no central heat/ac, 115k-118k with garage, heat, ac)

ARV: 115k w/ new garage, central ac/heat

70% Rule MAO for my cash buyers 115k x 70% - 46k = 34k - my wholesale fee = my MAO

What do you all think? Do these #s look ok? Is this a deal? Am I WAY off lol?

Gotcha @Wendell De Guzman !

Once I know more about what they're looking for, I'll send you an email or PM.

Thanks!

@Wendell De Guzman ,

Do you do any deals in the Orlando, Tampa, or St. Pete areas?

I know some people are interested in relocating from Chicago to FL within the next year.

Thanks @Wendell De Guzman !

The deal is still in the works, but it's looking ok, probably not going to be 10k lol. :-) But, I'll let you know once it looks more solid. Thanks!

Thank you so much @Mark Ainley and @Shara Carlton for the title co. recommendation. I called and left a message for the title examiner and mentioned your referral. Thank you!

Wow! Thank you @Wendell De Guzman for sharing the details for your business! It's exciting to see your progress both the good and the bad and it is inspiring us all. Way to go!

Can record my contract before clearing the title issue? Or do I need to clear it first?

Good to meet you and thank you @Shara Carlton !

Thank you @Mark Ainley !

Thanks for the advice @Rick H. .

I can close this deal if I absolutely need to, but I'd prefer to assign it for a wholesale fee. My thought in splitting the wholesale fee was more if they find a buyer like how @Wendell De Guzman mentioned he works with other wholesalers in his latest podcast.

Thanks! Ana