All Forum Posts by: Richard Fields

I would say go for it unless competition is stiff. My first REO was originally listed at $175k I bought it at $108k. When I saw the price drop from $175k to $140k I put in an offer of $100k. That offer was countered slightly below asking. A month later they dropped the price again to $110k i bought it then at $108k. So if you are looking to get a good deal offer what your numbers support and be patient.

I use Erie for almost all my properties.  PM me and I'll send you my agent's contact info if you like.

Do you want a quick way to figure rehab costs? If you can measure the size of the house from outside when you can't get inside simply figure the square footage. If you can peek inside from a windows determine if it will be a simple fix and flip, a middle of the road or a total rehab, use this simple formula that I use for a quick estimate. For a simple fix and flip such as painting, flooring and simple repairs - $10/Sq. Ft.; for a middle of the road rehab such as upgrade kitchens and baths with the simple fix route - $20/ sq. ft. ;  And a total rehab with roofing, kitchen, baths, flooring, painting, windows, etc. $30/ sq. ft. .

As an example, say you have a house with 1000 square feet on a simple rehab the quick estimate would be $10,000. The same house on a middle of the road rehab is $20,000.

And the total rehab cost estimate would be $30,000

So try that and you will find that you will be close to the actual numbers.

Larry Levin

I'll message you his info  

Just for future reference for anyone looking, it's very helpful to include the locality where you're looking for help in the subject lien.