All Forum Posts by: Marc Martinez

I’m also not a seasoned Investor, but I have completed 4 flips and a couple of assignments here in Tucson. Just listed a flip of mine on Broadway & Wilmot. If any of you want to collaborate feel free to shoot me a message. 

Michael, 

It clearly sounds like the repair work is more extensive than what the seller is reporting (very common). If the ARV is between 220-240K, you wiII need to lock up this property between 130-140K in my opinion if your exit strategy is to wholesale it. If you are planning on taking it down yourself, you can possibly pay more. There are plenty of fix/flip investors in town who would pay 140-150K for this property if the ARV is 220-240K and the rehab cost is between 35-45K.
It sounds like you possibly have a very motivated seller, especially if he contacted you via an online AD. I would try and lock it up at 130-140K and explain to the seller that the property needs around 45K. Obviously, this is the art of the game. Trying to get sellers to understand the true value of their distressed property. 
Good luck. 

Michael, 

As already mentioned, if you can get access to some interior pictures, this wiII allow you to make a better determination of what your max offer wiII be. Are you looking at at 10-20K renovation or 30-46K renovation. I live here in Tucson and do some traditional and non traditional real estate. I can assure you that this seller is more than likely talking to numerous investors. During my last two seller appointments, the sellers actually advised me that they were speaking to five different homebuyers here in Tucson and getting multiple offers before making a final decision. 
There are currently a large volume of investors buying here in Tucson. Many of them are local investors, but of late I have noticed that many wholesalers out of the Phoenix area are marketing and putting properties under contract here in Tucson. 
In terms of a local title company, I have used Title Security Agency out of the River and Campbell office. They handled my last two assignments. I’m a newer investor myself, but feel free to reach out to me if you have any other questions.