All Forum Posts by: Account Closed

Looking at a VHDA home that was listed 6 months ago. It as had only one offer but given the shape nobody can get financing. How much % should I offer off the asking price and how much will they normally drop the price? I've heard they will drop the home 2 or 3 times. Thanks everyone

Home Purchase on the BiggerPockets forums http://www.biggerpockets.com/forums/311/topics/96978-home-purchase I'm making an offer on a investment property this week. The home needs a little repairs. I don't won't to put 20% down and I have enough to purchase the home on a card. If I do it this way it would Be 0% interest. Also I won't have to put anything down. Once I get the repairs done my local credit union said they would lead up to 80% of the home appraisal value and I could pay the card off. If I don't do that and put 20% down they will only lend 80% of the purchase price. Would this Be okay way of getting in this deal and avoiding the down payment? Thanks

Home Purchase on the BiggerPockets forums http://www.biggerpockets.com/forums/311/topics/96978-home-purchase How much does a typical foreclosure drop from the listed price? I've heard they drop 2 to 3 times if there haven't been any offers made. Thanks

I plan to meet a contractor Friday to walk the house also.

They didn't take all the copper. The owner went in and fixed most of the issues but stopped and decided not to rent it out again. He just wants to sell it since he lives over 10 hours away. Like it sits currently the realtor had it rented for $850 a month.

Thanks for the reply. The $5,000 in repairs are for copper wire that was stolen from the home. It does need a few other repairs but nothing major. The comps are I looked at are within a mile range. The most recent two houses down sold for $180k new constriction but only 1900sq. Also there have been about 4 new homes built in the area.

Hi, this is my first post to Bp and I need help making sure this home purchase is a deal or should I walk away. Here is the info on my current home.

My current primary home is worth about $80k and I owe $28k on my 15 year loan. I've been knocking out principal every month and would have it paid off in about a year.

There is a house about 3mins from my current location that's been on the market a while almost a year it was listed at $200k and over time as dropped to $100k. The owner lived in it for a while but moved about 10 hours away an it was rented. The renters torn it up and the owner just wants to sell now.

There was a $25k price drop last week the house is 4 to 5br, 2 full bath, and 2 half baths. Also as a 2 car garage and is around 3,000sq. It needs little repair around $5,000 unless the hvac needs to be replaced since it hasn't been checked.

Homes have sold from $200k to $120k more from $150 to $200k range over the last 2 years. Tax value is $158k and I think I could get it for $70k what do you guys think?

This would be my primary home and I would make my current home a rental. I think I could get a loan for $130k enough to pay off my current and money to update the new one. My current home would rent for $600 a month.

Please let me know if you guys need more information. Thanks for all your responses in advance.

Hi, this is my first post to Bp and I need help making sure this home purchase is a deal or should I walk away. Here is the info on my current home.

My current primary home is worth about $80k and I owe $28k on my 15 year loan. I've been knocking out principal every month and would have it paid off in about a year.

There is a house about 3mins from my current location that's been on the market a while almost a year it was listed at $200k and over time as dropped to $100k. The owner lived in it for a while but moved about 10 hours away an it was rented. The renters torn it up and the owner just wants to sell now.

There was a $25k price drop last week the house is 4 to 5br, 2 full bath, and 2 half baths. Also as a 2 car garage and is around 3,000sq. It needs little repair around $5,000 unless the hvac needs to be replaced since it hasn't been checked.

Homes have sold from $200k to $120k more from $150 to $200k range over the last 2 years. Tax value is $158k and I think I could get it for $70k what do you guys think?

This would be my primary home and I would make my current home a rental. I think I could get a loan for $130k enough to pay off my current and money to update the new one. My current home would rent for $600 a month.

Please let me know if you guys need more information. Thanks for all your responses in advance.