All Forum Posts by: Duane Tyndale

Originally posted by @Mark DeSantis:

No, it could just mean the current owner wants too much to make this deal work.    Marietta is a tough market to find a good deal.

Your ARV comps should use houses with comparable size and land though for the area.

 Hi @Mark DeSantis, thanks for your advice!  I know it could take time to uncover a deal.  

Regarding my ARV comps, I did my best to ensure that the properties I found were close in age, property type and style, square footage, lot size, in close proximity and sold within the past 6 months to a year (I could find 3 comps in the last 90 days). It took awhile, but I think they are pretty solid. I definitely learned a lot in the process.

Originally posted by @Kalimah Jenkins:

@Duane Tyndale I invest in Marietta and could assist.  I know the area well.  PM me if you want.

 Hi @Kalimah Jenkins, thank you for the offer.  I definitely will!

Originally posted by @Troy Durrette:

Congrats on your commitment to purchase, and with value, everything is subjective. Unless 1 acre is a really BIG lot for the area, don't consider much weight on it. Land is always a grey area, unless it's clearly black and white like down town. Hope some of that is helpful. 

 Hey @Troy Durrette, thank you for the insight.  Once I started calculating, I saw such a big difference in where we were that I started questioning my calculations.  Your post is definitely helpful.  Thank you!

Hello BP,

I am working to close my first deal and I need help. Since I am just starting out, I probably have some of this wrong. The potential deal is for a late 70's 3/1 SFR on an acre in a desirable section of Marietta. The house needs significant repairs (although I don't think it needs to be completely gutted). I followed the BP ARV reference doc to and adjusted the comps accordingly to calculate the ARV. Next, I used the BP Wholesaling Calculator to come up with the MAO. The gap between my calculated MAO and what the owner wants is about $70000.

My question is, could that gap be the acre of land that, for some reason, I may not have accounted for correctly in my ARV calculation? Should I do a separate ARV for an acre lot in the same area and add that ARV to my initial calculation?

Thank you in advance for your help!

Thanks @Jared Sturm!  I look forward to attending the next event...

@Bradly Wortham Congrats on your first eval. I'm new to this so bear with me. It seems like they might not be motivated enough on the first pass. They said they want to sell, but do they need to sell? I know I might go against what the experts here will tell you, but if it won't be profitable for you and the cash buyer, it doesn't sound like a good deal, yet. Find out the price that will make it a profitable deal for you and the buyer. We already know the property being sold will solve the seller's problem. Present that price. If the seller declines, offer some advice, exit on good terms and ask if you can follow up in a month to check in. I hope that helps.