I met the owner last night and checked out the property. Its exactly what I'm looking for. The curb appeal is awesome. I will definitely be able to make some good money on it.
It's almost a full rehab, walls, kitchen, flooring.. The roof is good!
There's so much junk at this house!!! The shed in this picture is crammed with junk. Its a two bedroom house and the rooms are so packed that you can't even walk into them. Seriously!
The back yeard is big and has a lot of junk as well. There's so much junk that its needs to be taken into consideration in the offer price.
The guy tricked me, after we talked about what the house should sell for, he told me that he would not sign anything tonight, and he will be talking to other investors.. Arghh!
He's motivated, but he doesn't need to sell right now. It appears he will shop around a little bit and to determine the price by the offers coming in.
I'm nervous because there's a lot of anxious/unsavvy investors that will purchase a major fixup for over 80 cents on the dollar in this type of market.
Basically, I'm at 70 cents with him right now. This is my upper limit we'll see.
After I told me about the coming offers, I summarized my offer..
- I'm easy to work with it.
- I'll buy it "as is"
- I'll take the junk away
- I'll pay in cash
He left town, and will be coming back next Friday. We'll see if we can put some ink on the paper.
I wish I could look at ten of these types of houses a month..