All Forum Posts by: Account Closed

Congratulations on your second deal, Aaron! I'm not sure how to give you feedback on this situation as I've never been involved in such. However, the first property that I've been able to obtain was that of a deceased owner. I'd been searching for the next-of-kin for quite some time, and finally found her. Thankfully, she was willing to bless me with such an incredible deal. Please update us with the outcome.

Thank you for your response, Michael. I already have quite a few buyers that I must speak with. I just was concerned with the time frame to market this one as I've never dealt with a short sale or a lengthy time to close. I will begin to aggressively market this next week.

You're absolutely right, Stan. Thank you for pointing that out. The average selling price for colonials in this section is $156,000.00. I'll have to revise that post.

The lowest selling comps are a reflection of the foreclosures in this area, so I factored in the selling prices of properties that were not sold by banks.

Hi there, Rob, and thank you. I will purchase the house from the lender with private money, then sell to an end buyer. Just to run the numbers by everyone who views this:

Purchase Price: 67K
Renovation/Update Price: 28K
Highest sold comp - 3 months ago: 171K

It's located in an eye-pleasing section of Burlington County, NJ.

Hello, everyone. I will be closing on a short sale property on or before May 30th, 2011. My exit tactic is to wholesale this one as I'm currently in the process of starting my first rehab next month, and possibly another this month. I've already begun talking to end buyers for the short sale, but when is a good time to aggressively market this property? Wells Fargo is the lender I'll be closing with.

Thanks for the encouragement, Bryan. I have to reach out to some investors in central/north Jersey. My partner and I will check out the house physically first. I will keep you guys updated. Bryan, I'll be entering my first rehab project next month. Attempting to find the next-of-kin of a decedent who has a vacant house can be an intense struggle, but when you find out that the next-of-kin is a relative of yours whom you never met, it makes digging in the trenches to secure a property so very worth it. After the rehab is complete, I'll share this intriguing story with you all.

Hi there, Bryan. I'm worried about not having a solid buyer or waiting for a lengthy time to find one if I were to pick up this property. I wish the house could have been in the NC region, but I focus on PA and NJ. This particular property is in NJ.

I appreciate the replies. I was going to check one of these homes out this week as it's priced quite low, asking price is 150K, and homes in this particular area have sold for 280K and up. I wanted to view the property physically before putting in an offer. It sits on a large double lot corner, and the driveway fits 4 cars. It's a 3/2. I'm thinking of passing on this one as I would seek to wholesale it quickly. I don't want to face the misfortune of not finding a buyer in time or ever. Yup, it's located in a historic village. From the abundance of pics that were sent to me by the seller, it seems to be a gorgeous home, and it definitely is not rehab potential, yet it may be begging for a serious update, lol. The seller's motivation is centered around dealing with the passing of both parents and moving into the decedents' home.

Good evening, BP. Are there any folks eager to buy victorian-style homes, if the price is right? I'm currently looking at these types of properties, but want to be assured that there are solid buyers who desire them. As for location, I only deal with serene and incredibly cozy suburban neighborhoods that are furnished with attractive homes.

You're welcome dear.