All Forum Posts by: Mary Bodrato

@ Brent Coombs - I did realize that the sellers may not be in a distressed situation. But I think they want to close pretty quickly because they were screwed by the realtor backing out and I think if this goes on for another week they may come down on pricing. I still have to do my homework though...I haven't had a chance to run the comps ...still learning how to do that. Once I run the comps I should have a better idea what to offer.  I may find someone locally to co-wholesale with as one colleague mentioned so I could learn the process properly. 

But if I don't find anyone I may just leave that deal alone. I hate to give up on it though.

@John Rogers Hello John thanks for the info. What is your contact?  I checked but could not find for some reason. I'm interested in getting info about the Altamonte Spgs contractor you mentioned earlier today.  Thx!

Thanks @Ron H. & @Charles Smith

The property actually looks great - probably will need to put in 2-3k to remove the ugly wallpaper but the house is in great condition...there's really no other  issues.  I think I'll offer 180-185k and see what happens. 

Sorry for all the dumb questions you guys but my next one is: what is the difference between listed price, off market price, and estimated value? Do they mean the same? 

Like for example, the property I mentioned it shows an off market price on Realtor.com and I looked at a similar property which is two houses down and also for sale - but this one is by a realtor and they have a listed price....I get so confused with the different price terms they use. 

@Account Closed Hi and thanks for your tips and I agree with you ...I definitely don't want to screw the seller...not my style and I want to have everything in place to make this transaction smooth. I didnt make an offer yet ..the seller said they would call me today or tomorrow. The seller had a realtor but said the realtor backed out - they said realtor was purchasing home for herself but got stuck and didnt go through with it because she couldn't sell her own home. 

But anyways, I have someone who wants to buy and I'm trying to figure out the contract part. This is my first ever deal and I'm just trying to wing it the best can. 

Hi @Brent Coombs - Happy Sunday  Thanks so much for your advice. I checked the surrounding area with similar houses and the range is 200k-239k -  the sellers are second owners -  what are your thoughts??

Here are the details :

Single family

Year built: 1985

Price/Sq Ft: $110

House size: 1,783 sq ft

Stories: 1

Lot size: 5,711 sq ft

Garage: 2 car Garage

Heating: yes

Cooling: yes

Construction: Wood Frame

Year built: 1985

Year renovated: 1985

Property type: Single family

Date updated: 02/10/2016

Units: 1

Fireplace: Yes

Thanks @Charles Smith  I will try that.  I see surrounding market range with similar size is 200k -239k

Hello thanks @Charles Smith  so my next question is ...when I make an offer ...is there a rule about how low I should go on offer?  I've heard to offer as low as possible but I just dont know if I'm too low or not. This couple is asking for $210,000 and I have no idea what to offer - any suggestions?

Hello!  Thats a great question....as I have the same question and would like to know as well.

I've heard bank owned properties are good to purchase but I need to know why. 

I'm a newbie and I'm curious what response you'll get. Hopefully you'll get some answers.

Hello & Good morning all!  

I spent my Sat morning & afternoon yesterday driving around and looking for opportunities. I ran into a couple who are distressed sellers and they need to sell their home asap. I looked at their home and its a beautiful 3/2 in a great area and has great potential to buy & flip or buy & rent.  

I'm not sure how to find a buyer and what to do next....I feel I can help this couple but just dont know what to do next. Some guidance is much appreciated.

~ Mary B 

Good morning! Thank you all for the warm welcomes! 

I'm excited about getting started....I'm not gonna lie...I'm terrified because I don't know what I'm doing and anxious but I'm currently reading and studying about this business and learning so much. Thank you for the tips/info...I will definitely apply it.  :)