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All Forum Posts by: Marc Massicotte

Marc Massicotte has started 4 posts and replied 8 times.

Post: Assessed land value and MOA

Marc MassicottePosted
  • Posts 8
  • Votes 1

Just curious if anyone uses the property's tax assessment in any way when coming up with an MOA when wholesaling vacant land. I have a lead and they may be willing to sell at below assessment which is about half of the appraisal. Excuse me if it is a dumb question, I am new and still getting my feet wet when it comes to numbers when comps aren't readily available. 

Post: Probate and wholesaling contracts

Marc MassicottePosted
  • Posts 8
  • Votes 1
Quote from @Francis Nasser:

Hi Marc, it depends on what stage of the probate the seller is in. We usually set a closing date 6 months out with a clause that allows us to close on or before that. Additionally, our agreement allows us an additional 60 days in case title is not clear on the day of closing.


Great, thanks for the info.

Post: Probate and wholesaling contracts

Marc MassicottePosted
  • Posts 8
  • Votes 1

If you are working on wholesaling a property in probate, do you specify a potential closing date on the PSA or leave it open ended as "Upon probate approval"? Or something to that affect. Any tips would be appreciated. 

I was more wondering if anyone did it unintentionally when the first started before realizing their mistake.

Quote from @Don Konipol:

It has never happened in the history of the world 


 Ha...well played sir. 

I know there is always talk about how wholesalers should not over inflate ARV and don't underestimate cost of repairs. That being said, did anyone find themselves doing the opposite and being overly cautious on both?

Post: No comps in the area?

Marc MassicottePosted
  • Posts 8
  • Votes 1
Quote from @Yu Liu:

No comps in the area make things very hard. Is it in the middle of no where. You pretty much have to see zooming out and find the nearest like property even if it is far away for a point of reference.


 Thanks for your reply. I appreciate any help I can get at this point. 

Post: No comps in the area?

Marc MassicottePosted
  • Posts 8
  • Votes 1

Hello all, newbie here. I had a question about what to do when you are attempting to find an ARV but there are no comps in the area which even come close to the property? Any techniques I don't know about?

Thanks in advance!