All Forum Posts by: Dottie W.

This house was built in 1938 and has hardwood floors and a metal roof. The siding is wood.

They are asking $19,000 for this deal. I got the sellers agent to run comps for six months but I don't know how to read it. 

From what I've need told, they have a property that has been sitting empty for a few months. I guess they are wholesaling this deal to me to pay back their hard money. This house looks like it needs walls, ceiling, siding, moving Windows, walls, cabinets and more. I'm scheduled to view this Saturday. 

@Ned Carey  Thanks for the advice. I'm scheduled to view the property Saturday at 10:30am. I will know if I get the pre qualification letter thursday🙂.  

@Jerry W. I'm going for a 1 year hard money loan. I. The mean time, I think I will sell and use the money to pay off my car. If I can't sell, I will hold then refinance. I'm not doing a conventional because my score is 600 not 620. I'm not doing a heloc because I don't want 2 loans under one roof. This will be my first deal, really- I just want to profit $20k

so, some people I attend church with told me last year they were investors. I shared I wanted the same , so they let me use their real estate book. Last week, they offered to wholesale to me my first deal. 

Question: do I need a real estate agent?

Facts: they have a contract with the seller, there is a tenant scheduled to move out Dec 4th, the sellers agent still has the sign in the yard and I can't see the property without proof of funds. I will be using hard money!  I need comps and other info, should I get an agent? 

Lastly, why would I ever need an agent to buy from a whole seller or anyone?

Well people, the real estate agent finally emailed me this morning saying she thinks the asking price of $232,000 is about right and that she couldn't find ANY comps. REALLY LADY??? 11 houses have sold after this house went on the market and has been sitting there for 9 months. Houses nicer, new, bigger, older, smaller and the same. I found comps that were listed on the MLS but she couldn't.....because she didn't run any comps. Why can't people just be honest? Just say you didn't have time. all I could say is ok and thanks for your time. Some of you may feel like she is telling me the truth, I would agree if I hadn't previously spoken to a different agent that had a different answer. I'm going to call this home owner back on Monday morning and offer her $180,000. If she says ok, I will shop for a buy and hold buyer that wants an move in ready deal. If I can't find one, i will see if she wants to do owners financing. if not, this will be A good lesson learned!

It's ok @Chaz Reid - I appreciate it anyway. 

@Jennifer Talcott I didn't think about theses numbers. Also, doesn't the buyer investor have to give me a good faith deposit or no? This property wouldn't really be flipped because it's turn key. The work needed is for the cedar siding in the front of the house, its just worn. Everything else is flawless. If I could get her to owner finance, I would love to move in myself. It's in the school district I need, her asking price is emotional tho. Can you do a owner finance deal with out an agent? My goodness,  am learning a lot on this case. Thanks for the well wishes!

@Bill Fennelly it sounds like i need to spend some money to make some money.  I called 2 agents today & one didnt understand my request & the other said she will email me the comps this evening...(still waiting). One said she wil do it in exchange for referrals & the other for free. If the deal goes through, i plan to surprise the helpful agent with $100 & my business card. This is crazy, I told the seller I would call her today but i didn't have any information for her. I called anyway to keep my word & she didn't answer. I left a message saying I haven't heard from my agent and I will call her next week if she hasn't sold the house by then.  As im talking to you Bill, she has called me twice ( the seller). She just left a message saying she didnt know i was working with a realtor & the agent will want 3% & she is willing to pay that and she is willing to help me in anyway.  What is happening here!