All Forum Posts by: Jennifer Williams

Hello BP

So while browsing through Craiglist, I was able to find a home to put under contract. Since this is my 1st, I sent over an Option to Purchase Agreement and will eventually send over the Purchase Agreement. Well from my research, it seems to be a good deal but i need my fellow BPers to reassure me and maybe point out something I didn't catch do to my inexperience. 

The home is a 4bd/2.5bth at 2701sq built in 1968

Market value is 158,603

Property records appraised it at 152,000

I got him down to 103,000 cash under contract with $6000 estimated repairs

Here is a little history on the home.

The home was sold foreclosed for 120,700 back in 2012, It is now owned by a Mortgage Corporation.

I'm guessing since it is owned by a corp then there shouldnt be any liens or money owed, right? 

Does this deal make sense to any of you investors, and by it being a cash sale, is it still to high even though the home has great equity? 

Ok thank you for reading and I appreciate any input.

Jen

Thank you @Andres Jaramillo and @Ben Hughes. BP really is amazing.

Thank you @Terry Evans and @Joe Gore... That makes great sense, I found my 1st home to move on in my neighborhood, Its abandon and over-grown but has great potential. I found contact for the owner and plan to write her this week. I'm so excited, Thank you again

Thank you @Ben G. 

This helps a lot ;)

Thank you so much @Gerald Harris for breaking that down, Its becoming more clear.. Thanks for your link too.

Good Afternoon BP

Ok so my research is coming along well, Im more comfortable with presenting the information  to Investors then I am with how to sell myself to the seller. I will hopefully be moving on my 1st wholesale experience within weeks... I do have a few questions as far as the 1st few steps. 

So once you locate a potential home and have located the owner(seller) What is done immediately after?.. before even contacting the owner.

In that 1st conversation, how would I properly introduce myself and what I am doing to be able to captivate them? .. Where can I find a detailed property research form? ( I have googled, this is the only form I cant find)... 

Then there's Property Inspections, Do you all have these before contacting Buyers? 

The last question is.. Can someone please explain the whole ARV % calculations... I understand its after renovation value but as far as keeping it 70% I don't understand how that percentage is calculated. Thank you in advance to anyone that read all this and willing to set me in the right path to begin.

Have a great afternoon.

Hello All...I am Jennifer from Houston. At the beginning of this year I became the assistant to a very established realtor who intoduced me to the world of Investor owned properties. One of my many assignments was to market these homes(online, open house etc..) Well recently I enrolled in real estate courses to obtain my licence. I have also stepped down from my position and my main focus is my classes and beginning my real estate investment company. I have researched days upon days on the ins and outs of starting off.I now have established a plan on how to take my 1st step and that will be Wholesale. I am still trying to figure out sooo much and my questions are immense. Im looking for advanced investors that would be willing to take me under their wing and get me comfortably to move on my first closing. I am fully committed to REI and I see this as a wonderful door opening and cant help but think of my mother, who passed away earlier this year, blessing me and my family. Thank you for taking your time to read this. Happy Investing All

Thank you @Christopher Hunter

Hello there, I am Jennifer.. Houston,Texas is my home. I am currently the assistant to a very successful Realtor. I am also in school to obtain a Real Estate Licence. I plan to further my knowledge in all aspects of Real Estate and Real Estate Investing. I want to build a reputable brand merging all levels of the profession from Home Improvements and Design to Sales, Property Management. I will also obtain my Brokerage Licence and will be in the process of buying and flipping my first home this year. I am still learning but I have these incredible dreams in my mind and my aim is the stars. I look forward to building relationships and expertise.