All Forum Posts by: Winniferd B.

Marcus, yes there is a better way. I just didn't want to pass up a potential deal ....was thinking maybe there was something I could have been missing. Guess Not.

Thanks Jeff.

I think the thing that makes this a deal is the available land next door.

Well, the seller told me he wasn't expecting to get much and told me to make my offer.

I haven't seen the inside yet, but from the outside it looks like it may need about 10k worth of work.

And I got my comps from MLS.

Thanks for any and all advice..

I'm not sure how to handle this. This is a small house (761 Sqft) that needs major repairs. The seller also owns the land next door that he wants to sell as well (5000 sqft). Bewteen the house and the land the owner owes $7,700 in taxes and there is a $ 6000 lien on the land. The house isn't located in the best of neighborhoods so it's not worth a whole lot.
I pulled the comps for the area and there was a house in good condition that sold for 35K. And another in not so good condition that sold for 19K. Investors are buying in the area.

I was thinking my best bet would be make an offer on both the house and land together and market it to buyers that way as well...

Any help would be appreciated...I'm kinda new to the game.

Welcome Fellow Houstonian!

I had someone contact me about selling his land. It's 1 Acre and it has an old abandoned Mobile home on it. It's been abandoned about 8 months. The land cam be used for commerical or residential. He inherited the land and wants to get rid of it. He said he wants 38k for it. Is it possible to wholesale land. And how exactly do you run the comps for it. I ran the comps for the area and homes in that area sell between 90-190K.

Trust me...not everyone is selfish. It's just a matter of finding the right people. Keep talking to different people and you'll find someone willing to help you.

Anna M..Good Question.

That's exactly how I see it...A risk-free way to learn. I read many threads that say a mentor is good to have in the beginning...I get to learn the business from someone who's already good at it. He's in my area and I make some money as I learn. Yes, I'm sure I could make more money doing the deals myself..but first I need to learn. That's just me..I like to know what I'm doing before I do it.

So, my new mentor contacted me on Friday after we met....and he is willing to train me for free. He said that he was really impressed with me and proposed a deal. Basically I would be working the leads that he receives from his scouts...I would be doing the research on the property for him and creating a lead sheet so that he could just go through the list and make the calls. I would get a percentage of what he closes on for the month and free training. This is exactly what I've been looking for!! Such a sweet deal!!

How about $0 up front, $0/ a month and a 50/50 split on the first deal?

This is exactly what I was thinking.