All Forum Posts by: Account Closed

I live in Northern Virginia and I can't find many cash flowing deals in my area. However I was able to find a 2 bedroom 1.5 bath in what many would consider the "Ghetto" it is under 86k and rents for around 1.1k. It is in a prime location near downtown Fredericksburg, VA. I could rent out the other room for around 500 a month. Then in one year I plan to move onto another deal and rent out the entire townhouse. What do you all think about this; Would you live in an uncomfortable situation to make a deal work?

@Jonathan Greene You’re right, I am looking at this incorrectly. I will look at this as way to solve the sellers problem in a mutually beneficial manner.

I created this website as a way to find deals in my area. I do lack the experience to run a traditional “we buy homes” business. I shouldn’t put in offers without inspecting the home first.

My intent with this website & campaign is to find one deal below market value to start in real estate investing . I see how flawed my initial post was. I am learning and I appreciate your input.

@Aaron K. It is relatively accurate, varies a little bit either way. I see what you are saying, I should focus on the actual numbers. When I talk with the sellers I will try to think like them and provide them with an offer that is “palatable” based on the current value while still allowing me to profit.

@Aaron K. Okay, that makes sense. I’ll meet up with them to check out the property before providing them with an offer. I am targeting houses ranging from 50k - 250k in assessed value. This is all new to me, so your advice is greatly appreciated.

I decided to take the leap and start my own “we buy houses” website. I sent out my first direct mail campaign last night. However, I have no idea what is considered a fair price? I understand this varies based on condition but I’m not sure where to start. My initial thought was to offer them a range from 40% to 70% of the current market value until I inspected the property. Then provide them with the final offer after I do my due diligence. What do you all think is a “fair” cash offer?

When starting out in real estate investing, Should you "fake it" and "pretend" you are more experienced than you are to ease a potential prospect's mind or should you be transparent with your complete lack of experience.

When I say "fake it", I don't mean blatantly lie but just omit the fact that this is your first time and paint the image that you are experienced.