All Forum Posts by: Tyler Meade

This property is a house that is built around a trailer. So at one point there was a 2 story home there, but years ago they basically cut the home in half and sat a trailer on top of the old foundation. There’s an addition added to the front side of the trailer and back side of it. Honestly, unless anyone was informed before seeing the house, you wouldn’t be able to tell it was a trailer unless you really inspected the house. How would you go about this property? Comps or even what to classify it as?

@Alvin Sylvain appreciate your feedback! That was another way i was thinking of going about calculating repairs. Just wasn’t for certain because it’s my first property that i have interest in that’s already in the middle of a remodel. Yes, the father sounded pretty eager but i’ll have to hear the sons concern. Thank you for the help i’ll let you know how it goes!

I have an appointment coming up with an investor who is tired of fixing up a property that was bought as a flip. Him and his son got this property together for the son to get his feet wet in real estate. They’ve owned it just for over a year now and the house is still in the middle of being rehabbed. How would i go about comping this property with it still not completed? Would i just subtract out the repairs they’ve already done to the house from the initial repair cost they’ve came up with before purchasing? Or just calculate repairs as the house would need a full rehab?

Came across a property in the mountain that is a potential deal but finding comps nearby is nearly impossible. Seeing that it practically sits alone and no sold comps within a 1-2 mile radius, a local agent said “no comps is just as good as bad comps” how do i take that? Its a ranch style home, 1100sqft, roughly 40-45k in repairs with mold that overtook the basement and black mold in the upstairs bathroom from a roof leak!! Anyone with mold experience, kind of making me shy away from it. Thoughts?