All Forum Posts by: Tracey Williams

Hi Friends,

I finally close on my first deal this morning and i just can't to say thank you to everyone on this forum.

My agent just email me information about another REO that he has for sales and am trying to figure out what will be the best price to offer

It's a 9unit apartment building (2bedroom-1 bath) 4units are currently rented for $575/months.
The bank is asking for $210,000
The tax is around $7450
It's going to need some repair around $25000
The last buyer paid $450,000 in 2006 and it's currently valued for $286,000 on the auditor's site

My calculation for an offer was coming to $145,000 to $162,000

I will appreacite your contribution on what you will offer for this property,

Thanks

Tracey

Great ideas!

I just love this forum!!!!!!!!!!!!

Mariah,

What is your update? did the Bank accept your offer?

I just sent you a PM

Thanks everyone,
Am closing on the 31st and praying we could be able to adjust it for 2011.

I'll post the update.

I will be closing on my first property soon, I am so excited I can hardly wait for closing to come. I have been reading & studing real estate for 2yrs and finally took a step of faith this year.
Yesterday was inspection and everything went well.

The property is valued for 148k on the auditor's site and the tax for 2010 is $2980. Am in contract for 54k and the budget for repair is 12k.

My question is what do I need to do to get the tax reduce to the value that am paying for it, so that over $200 will not be going to tax from my rent.

Secondly, we are closing by the end of this month can I still get the tax adjustment done to reflect in the tax for 2011

Thanks

Anthony,

What is your real estate niche? Buy & hold or Buy -flip, all your post are about million dollar deals and am wondering what exactly do you do?

Hi Will,

Can you kindly explain more on how you could sell the notes for cash.

Thanks

The seller will not provide one because it's an REO but I just read all the fine print and I wonder what they really cover!!!!!!
I have scan it back to the agent that am not interested since all the appliances will be replaced anyway

Thanks

Thanks for all your quick reply and yes it's an REO

Hello Friends,

Is home warranty needed for a single family home that is going to be a rental unit. We plan to use a management company

My agent sent me a document from an home warranty company before closing and am not sure if we need it.
kindly share your view

Tracey