All Forum Posts by: Frank Caputo

 Just wondering if you’ve found anyone? I too am in the Killeen area and looking for reliable, fair priced contractors. 

To be honest, I am not exactly sure. All I know is that there was one other bitter against myself and my partner. I wonder why the real estate agents would say that. Regardless, I will have an inspection done on the house and if the inspector or find something too big to fix for the negotiated price I will just have to walk away and scour for the next deal.

Thank you for answering my post.

Fayetteville

My partner and I are new to real estate investing, real new. We put a bid on a VA foreclosure and lost, this was sometime last week.

Our agent called this morning and said the person who won the house had to pull out because he was an agent himself.

Has anyone ever heard of this before? My concern is tat maybe the person saw something I didn't and pulled out. Any info would be appreciated.

Thanks

My partner and I are new to real estate investing, real new. We put a bid on a VA foreclosure and lost, this was sometime last week.

Our agent called this morning and said the person who won the house had to pull out because he was an agent himself.

Has anyone ever heard of this before? My concern is tat maybe the person saw something I didn't and pulled out. Any info would be appreciated.

Thanks

Well, this morning my realtor called and said that the person who won the bid had to pull out. She said he was a realtor and was not allowed to bid on the foreclosure. 

Does this sound valid, are realtors not allowed to bid on VA foreclosures, does the public get first right?

I will head to the library tomorrow, thank you for the advice. 

Hey Louise, I share your sentiments regarding the MD area. I grew up just outside of Baltimore. Hard market to break into. I am also a descent move to NC, the Fayetteville area. Although we aren't to close to one another there is a REI in my area, you may want to check it out sometime. So have you had any wholesale luck in Wilmington?

Absolutely, so myself and a very good friend of mine put an offer in at $52k. The contractor  was  honest and pretty close on his bid to what I thought it would cost.  He quoted me $10k  and I believe that I will do all the demo  and that will save us more. I have spoken with several other contractors and if we win the bid I will meet with them as well. 

Ultimately our realitor believes the house can sell for at least $105k. I will be sure to keep  posting as the days pass. We are both very excited and would love any advise .

I came across a VA foreclosure in my area a couple of days ago and wanted to gets some opinions on it.

Myself and a close friend wold be purchasing it together. The VA is asking for $55k and we want to put in an offer for $50k. The comps in the area are anywhere from $104 to $112. We would price it aggressively at $102,500 for a fast sale.

The house needs some repairs and depending on how far we go it could vary from $10k to $25k. I expect no more than $20k and I feel like that's still a little high. It's in a descent school district and close to Fort Bragg, I will be meeting with a contractor there today to get a more accurate assessment of the repair costs.

By the way this would be my first fix and flip so any tips are appreciated.

Thanks

Frank