All Forum Posts by: Lester Terrance

These are the few pictures I have of the property.

Property is under contract until the 25th of the July. Property is already demoed (gutted). Comparables are available upon request. Please contact me for further infromation. 

Hi, Any scripts for contacting a potential buyer for a property under contract who left a voicemail?

Bill, Russell, Thank you for this information. It is making things a lot clearer for me. I actually got those same comps but was unsure due to the fact that they were so low. I wasn't sure if those properties were rehabbed. I'm at a standstill and not sure what to do. I have a few more days to provide my earnest money. The contract was ratified on the 19 May 2016. I'm at a point now where I'm thinking about holding the property and turning it into a rental. Possibly through HUD. I did not mention that this is the first property under my belt after 7 months of becoming an investor. Any advice as far as moving forward with a rental option under my company? I am still interested in wholesaling the property if I can find a buyer. Lester

Hey Russel, thank you for the advice. I was on the right track per your response. My agent/ mentor insists I target buyers searching for cash flow. I am trying to build an attractive package for an end buyer. There are no comps for the area or that building for which has been repaired as far as a condo goes. Any advise on moving forward with building an attractive package for an end buyer?

Hello,

I recently got a condo under contract in the Washington, DC area (Fort Dupont). My agent forwarded a list of comps (6 months) within a 1 mile area. Most of the comps are for town homes/ row houses for the same 2/1 setup. The comps range from 150,000 - 192,000. My General contractor quoted the job @ 42,000.00. I guess my question is, If you are unsure of the ARV, how do you price your property to sell to another investor who may possibly want to rehab it? I thought about going for an appraisal but thats too much money for now. Any advice, suggestions would be great.

Lester