All Forum Posts by: Ralph Garcia

@Charlie MacPherson thank you sir for the quick reply. I agree, while I was crunching the numbers I quickly realized the deal would be thin;  if able to made at all. Thank you for pointing out the carrying costs, that is not something I considered, but will be sure to add going forward. 

As far as the rehab budget, I feel pretty good about it. The house was a new build in 2004 and has been well taken care of. Just needs a few updates (fresh paint, carpet, etc.) 

Of course we would encourage our cash buyers to conduct a walk thru/inspection to verify/confirm our estimates. I’m really hoping we could find a way to help this couple, my heart really goes out to their situation.

So I went on my first appointment today which came from a post card off my pre-foreclosure list. Still not sure exactly what I’m doing, but I’m comitted to taking imperfect action as I learn the ropes. Here are the details. Would appreciate any feedback or thoughts on your analysis. Deal or no deal? 

Property details: 4 bedroom, 2 bath, 1,440 square foot, SFR on a 6,700 sqft lot in Madera, Ca. Built in 2004. Home still has all builder grade materials from original build. Needs cosmetics updates only.

Rehab budget: 20K 

Amount owed (including foreclosure fees/penalties) : 165 K

ARV: $220K

Homeowners are looking to cash out as mush as possible to help them get back on their feet. 

Thank you for your feedback, I truly appreciate it.

Best regards - A grateful wholesaling rookie!