All Forum Posts by: Prabodh Kumar kandala

@Chris Seveney, @Joseph Gozlan, @Mark W. Thank you for your valuable comments. Thanks much for the help.

Best,

Prabodh

Dear Amazing Bigger Pocket colleagues,

Wondering what is the life of condo's. Structurally how good they are?

I did learn that condo's appreciate less, but do they resell after 40 or 50 years from their time of construction. If there are any other suggestions about buying and selling condos, please advise.

Regards,

Prabodh

Congratulations on your success Axel. Way to go.

Thanks Sam. That makes sense. 

Dear Amazing Bigger Pocket members,

I came across an REO property that was listed (about 190K) similar to comps in an area. However, previous owner owns only about 60K to the bank. Wondering if bank accepts my offer if I am willing to pay 65-70K in cash? I was planning to give multiple bids like 70K in cash and quick closing or 100k with conventional mortgage. Please let me know if it make sense or I am being foolish. Your suggestions are appreciated.

Thanks in advance.

Regards,

Prabodh

Thanks Mike.

Thanks Simcha.

Thanks David. I will hunt in those areas.

Hello Amazing BP Colleagues,

I am new to real estate investing. I am starting out with buying a property to live in. Wanted to start with a Duplex.

Me and my spouse currently work in middlesex county and it is so hard to find a duplex in middlesex county. Can anyone from New Jersey suggest safe neighborhoods that are abundant in duplex or multiplex houses.

Thanks in advance.

Regards,

Prabodh

Dear Greg.. Here are the details.

This home was listed for 235K around March 2015. Later the price was reduced to 220K in June 2015. It was reduced again and listed for 175K last Month and have only two more days to bid. I calculated that 154K is 88% of 175K and asked my realtor to bid for 155K. Can i bid further lower than that and still have bid accepted? 

That home would need about 30K (rough estimate) of appliances and work. For example, that home did not have washer/drier, refrigerator etc and has wall cooling (a couple of them have to be replaced) and few minor replacements and siding needs little work as well.

Any suggestion would be helpful.

Regards,

Prabodh

Thanks Greg. So should we bid with the amount that is sum of 87% net+comission+closing costs? Or will those come later?

Regards,

Prabodh