All Forum Posts by: Dottie Bee

Shawn, what does the 3.5% look like?  How much is offered to the buyer's agent?

Chemours was granted $8 million in tax money to keep jobs in Delaware. Of coarse, this is small potatoes on the heels of the huge Dupont layoff the end of 2015.

Welcome to the forums Vincent!  I took a Real Estate class at Weichert.  They run specials for $199 for the class and materials on the coupon sites like Amazon deals and Living Social.  The law portion was certainly worth the price of admission as the instructor is himself an investor and knowledgeable legal opinion on Real Estate investing in Delaware.  I must have asked 200 questions. 

Another way to start looking in areas is to ask someone with access to the MLS to send you a list of properties that have sold in the last 12 months within your price range. This will give you an idea if where deals can get done for that much and if so where.

Quick answer, Chanel is: yes you can buy a move in home in Delaware for $50k.  Like @Eric Armstrong said, rehabs are hard to finance conventional.  You can reach out to home owners in areas that the market value is around that amount.  There are some townhome communities scattered in New Castle County (for instance New Castle &Bear have some around route 7 & 1).

If you have someone that is wanting to sell and save listing and marketing costs, you may be able to get a deal together that way.

There are also many areas on the City of Wilmington where homes are listed <$50k pretty regularly. If you would like to get emailed properties that get listed on the MLS in your price range pm me and I can set that up for you.

I'm good with either. 

that should say "SIXTY FIVE PERCENT of ARV minus repairs" I don't know why BP omitted the percent.

@Account Closed I'm most likely using financing to purchase. 

Only If you are working a deal that is a detached SFR in Middletown, priced under $150K and at <65% ARV minus repairs, I would be interested and would consider using hard money.

I believe so. FHA is for owner occupant first time homebuyers. Are you working with a lender yet? I'd start with locating a local investor friendly lender who could help you and your husband look at different lending scenarios. @Jeffrey Giffin May have some recommendations.