All Forum Posts by: Tom Cox

I need some advice folks. I am looking at a property that has about an acre of land along with a pole barn on it. 1600 sq. ft. Ranch with walkout. It needs some repairs. Motivation is there and the preliminary numbers look pretty good. Seller is asking $140 k, he estimates about $40k in repairs and says somebody offered his dad over $300k 3 years ago for the place. Reality is probably more like this: I could get it under contract for about $100 or seller financed, I haven't seen the inside yet, he is still cleaning it out and didn't want to show it to me yet so I will preliminarily budget $50k for rehab and ARV would likely be around $240k. Now comes the trust but verify aspect of the thing. Where do I find comps for this. It is basically a rural lot in the city. Lot's of benefits to the city including the Kalamazoo Promise, which pays for college at any in state university for kids that go K-12 in the public school system. Any suggestions on finding reliable comps to verify ARV assumptions?

Hey everyone, newbie investor from West Michigan here. My name is Tom and I have been working to start investing since July 2013. I have been thinking about this since 1998 and have just decided to take the plunge. I am looking to network with some great people and learn as much as I can and get this thing rolling. I sincerely appreciate any help you folks can offer.