There is good progress out there with the new light rail system in Charlotte, but the market already hit its boom a year or so ago.

I think Minna's point about the girlfriend is that it naturally progresses.

Keep us in the loop as things progress for you!

Thinking about this subject more...if you are sending an offer with around 30% below fmv, what if the repair cost (which you haven't assessed yet) are more substantial than you what you offered?

She said they send weekly progress reports and pictures.While the rehab is going on, she's going to be paying the hard money $580 per month which is the mortgage amount.At the end of 2 months the house should be almost done, so at this point she will get the house appraised and refinance the house for 80 or 90 LTV get out about 20k cash (the house is worth 60k)for the next house, then she plans to rent the property.

Minna,I just wanted to let you know that I've been following your progress for a long time!

There is progress from having started three months ago by looking through properties on the MLS at retail to finding properties before they reach the MLS is also an accomplishment.

I have to look at comps in the area to see the value of a 3 acre parcel of land, as you know the assessment value does not truly reflect its worth and right now that is all that I have to go on.

When I feel comfortable, I will make a move......keep me posted on your progress and I'll do the same...........

But knowing that I will estimate the value of a property that much lower, I look at the assessed value on the county website, then I call an appraiser from my "team", tell him what I think it's worth and get a quick valuation from him, (for FREE) because he CAN pull MLS comps, and I can't.