All Forum Posts by: Quinterrius Eatmon

@Rapy Narruhn thanks a lot for the advise I will take it into consideration. And yes I do have the football mentality lol. No excuse making allowed just ACTION AND EXECUTION!!!!

@Rapy Narruhn not yet I got the call today but after listening to her story it sounds like it needs a lot of work but then she said one of the units is occupied. I used a rough gestimate that it's gonna need about 20k worth of work. I'm hoping it doesn't because this cook end up being a really great deal for all parties.

@Rapy Narruhn well the ARV on it is around 70-80k. The owner said she would take what she owe for it I just don't know it if would be a good deal because she said the roof and foundation need work. However she has a tenant in one of them, so I'm thinking it can't need that much work right?

@Rapy Narruhn what more details would you need? I'm actually wholesaling it so the new buyer will blanket the deal.

have a 2bed 1bath roughly 1000 sqft home near Vigor High School in Prichard, AL. It does need some work the floors are unlevel and the ceiling needs a Little work as well. It has a huge backyard and an inside back porch that also needs work. This would be a great rental property for someone looking to be a landlord. I'm asking 15k net all cash, this deal will not last long.

so I have the opportunity to wholesale a duplex in AL however, I'm not sure how to go about doing it. The owner owes 25k on the mortgage? Can I still wholesale it with a mortgage on it?

Thanks @Ashley Whidby, I'm very new to real estate all together so I'm soaking as much knowledge as I can as well. I don't think I have much info to offer but I'm more than happy to share what I know. As far as repairs on the property, it needs new flooring most likely carpet, paint, updated kitchen, the bath room needs work, and the roof needs a little work done as well. From what I understand you always want to put a few extra thousands in the budget for unexpected cost.

Yes he said he was think around 12k but he said he definitely wants to sell it just to get rid of it. He doesn't want to fix it up.

So I'm pretty close to getting my first property under contract. With that being said, I just want to make sure my offer make sense, the last think I want to do is blow the deal by low balling. So I have done some research as far as the TAV and the FMV around 35k. Now, when I looked at comps in the area that sold recently, they where closer to the 40+ range (none were rehabbed). It's a 2 bed 1 bath 950 sqft single family home. It needs work inside and out but I'm sure someone could make a profit off a very basic flip (I would rent it out in my opinion). I think the roof also may need a little work done the owner said it was put on in 2005 after hurricane Katrina. I estimate the repair cost is between 10-18k depending how the buyer wants to go about the renovation. So I put the formula together for my offer I'm just a little worried it's REALLY REALLY low. The offer I have come to is 3-5k. Is this a fair offer or am I really low balling the seller?

@Nicholas Armstrong Gulf Shores is a little out of my radius but I would be more than willing to help if you need it.

WOW @Steve G. you just brought an incredible point to my eyes!!!! This would be a true WIN WIN for everyone. Thanks a lot!!!!