If they say "yes," then start getting your estimates together.

Hi jesus, Find out who the best (the one that lists and sells the most similar properties near yours) local realtor is and tell them you are thinking about selling and they will provide you with a free market analysis or CMA (comparative market analysis) that will include recent comparable sales and an estimated time to sell or DOM (days on market).Tell them you want an as is valuation and an after repaired valuation and what repairs would add the most selling value.Then get estimates on those repairs, and see which way you come out best.Good luck.

So a conservative estimate might be that you have to purchase the strip mall for about $500K to make the math work, or less to get a good deal.Funnily enough that's about exactly what the sellers are offering.

The workshops cover various subjects from financing, wholesaling,, estimating repairs etc. http://dallasreig.com/ This group meets once a week on Saturday during the lunch hour.

Hey All,I'm new at the flipping game and need advice on estimating rehab costs with REOs.  

Contact a local lawyer familiar with foreclosures to get an estimate on the time it may take and the costs you are likely to incur.

I would do some forecasts considering, the negative cash flow, mortgage pay down and estimated appreciation.

The workshops cover various subjects from financing, wholesaling,, estimating repairs etc. http://dallasreig.com/ This group meets once a week on Saturday during the lunch hour.

If estimating about $5,000 on the high side for total closing costs you can purchase up to about $70,000. 

It is in the neighborhood of Blackwell/Yates St. and the Zillow estimates the surrounding houses are around 115-125K for that kind of property.