All Forum Posts by: James Jacobs

@Jeremy Pakalka thanks for the advice.  And yes, I have a number that makes sense to me.  Let me see if it makes sense to the owner...

@Lisa Malservisi Cornillot welcome to BP

@Peter Sik  how are you?  I agree in regards to your comments about Alabama.  I'm originally from Alabama and have lived my whole life there.   Been in Florida about 3 months now.  Actually, Jefferson County is the biggest county in Alabama.  Mobile County is second, Madison County, third then Montgomery County.  I currently have 2 rental properties in Huntsville, AL.  The market there is great.  I'm looking to do more investing there. The city of Montgomery, Alabama I'm hearing is a good market to.  Are you looking to invest in Alabama?  I know areas especially Mobile and Madison County.

@Marvin McTaw  thanks for the advice.  I will delve more into their motivation to sell.  

I located a property with a ARV of 70K. The owner is asking 49K. When I plug in my numbers the maximum offer comes out to be 40K. When I run the COMPS, other homes in that area typically the same street and same features have been recently sold between 10k and 17k. I'm sure you don't pay 40K for a home that's in an area where other properties are being bought for 4 to 3 times less. In situations like this how do you determine what you offer a seller?

@Shawn Ackerman thanks for your advice.  As I mentioned I'm very new and willing to listen to those who are more experienced. 

@Marvin McTaw do you have any suggestions or recommendations?

Good point!  Their reason for selling ranged from "moving out of state to passing of parents and being stuck with the property to tired of being a landlord".  Wouldn't you say that's motivation? They were open to offers/discussion but I could sense some hesitation.   It's my first time contacting a seller so it could have well been something I wasn't doing properly....

I'm just starting out wholesaling and I've already come across 4 very motivated sellers.  But they all seem reluctant with dealing with someone other than a realtor.  Any advice as to how to make a motivated seller comfortable with you.

Justin, welcome and nice to meet you.  I'm new to the site myself and also new to real estate investing.  I'm originally from Mobile and currently live in Fort Lauderdale.