All Forum Posts by: Ray Trounday

This question is directed to folks who have been recipient of a property(assignee) via assignment.  What are your expectations of a assignor?   What did the assignor bring to the table that brought value to the transaction rather than another cost item to cover at closing?   Any and all feedback welcome

I am looking for contractor bids for a rehab in El Dorado county.  Pleae PM me 

Thanks,

Ray

If I am a principal in a real estate transaction, do I need to disclose that I hold a real estate license.

-Ray

I am looking for a investor friendly purchase contract for CA.  I received access to the CAR but find it daunting and difficult to explain and I am afraid it will spook the seller.  Can anyone direct me to a investor friendly contract?  

Thanks,

Ray

thanks Bob.

I wanted to check with folks to understand whether folks include monthly service fees when calculating yield on the note.  One option is to deduct the fees from the monthly payment you receive from the borrower.  The followup question is do folks also deduct tax and insurance when arriving at yield

@Adam M. Negotiable 2-3% of purchase.

Thanks JD.  Very much appreciated you walking through your analysis.

Thanks JD. So, it is unrealistic to expect the subject property to sell at 420-440 given the comp for the REO/Flip for Property #1 since it is nearly 200 sq feet less sf? Property #1 just went into escrow at 400k with a purchase at 336k back in July.

How much weight do you give the most recent comp over comps back a couple of months ago. Does price/sq come into play at all in arriving at the ARV number?

In your opinion, where would you should purchase price be? 300k, 325k?

-Ray

I am working on a wholesale deal and need some guidance at arriving at ARV. Here are the comparables that I am working from:

Subject property: 3/2; 1470 square feet; Average but dated condition; Build in 1974 and 1975. Just needs updated floors; interior/exterior paint with update cabinetry estimate repairs to run 15 -20k; Seller has agreed to a 335k sale; Price per square foot 227 sq foot

Comparables:

Property #1: 3/2; 1293 square feet; .1 mi frm subject property; Property was rebabbed; nice curb appeal

Sold as a REO back in 7/17 for 336k; rehabbed now in escrow at 400k; DOM 9 days; Price per square foot @ escrow price: $309/sq ft

Property #2: 3/2; 1694 square feet; .1 mi from subject property; Remodelled kitchen with average curb appeal

Retail sale: list price $394,900; Sold at $395,000 on 8/15/2017; DOM 2 days; Escrow 30 days; Price per square foot 232.90

Property #3: 3/2; 1893 square feet; .1 mi from subject property; comparable in condition to subject property

Retail sale; List Price 379,999; Sold at $380,000 on 8/23/17; DOM: 25 days Escrow: 30 days; Price per square foot 200.74

Thoughts on arrving at ARV?

Thanks

Ray