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investinAK
02-02-2005, 03:07 AM
Today I called a FSBO, and have made an appointment to go look at the property...Here is what I found out...

1460 sq. ft. 2 bedroom, 2 bath, no garage...Seller is a rehabber who does one house a year (according to him) and this was his house of last year. He said that he has COMPLETELY redone everything including wiring. He is asking $145,000...the tax assessed value is $89,800....but that was assessed BEFORE the rehab. I drove by the house today and the exterior is very nice with cedar siding and cedar shake roof, with clean stain on it. I have not seen the inside, not until tomorrow afternoon, but would assume that it would be nice, considering he has just rehabbed the whole thing. The house is in an excellent neighborhood, with mountain views all around, and even paved roads. (a rarity around here!) Anyways, to the point, I am going to see the house tomorrow, and would like to make an offer...I have a few ideas in mind, but would like to get your ideas as well...Please let me know as soon as you can get to it!! :) Thanks a million!

-Ryan

By the way....he says that he has someone who said they were interested, but he said "but you know how that goes"...

Dan Auito
02-02-2005, 03:14 AM
Ryan you need to be that guy! He has already found the deal and is now attempting to extract his profit!

Unless this home is now worth $200,000 I don't think you will find any opportunity here. Let us know what it's fair market value is and why he (the rehabber) would sell it far below its market price? :SM108:

investinAK
02-02-2005, 03:27 AM
Yes, I agree that I need to be that guy, but here was my idea...I believe the $145K to be pretty close to market value...I thought that I would try to get a lowball offer in, as low as he would accept...then get the property under contract or optioned....if he would agree to an option, even non-exclusive...and then turn around and sell it to a retail buyer...I am not worried about making a HUGE profit...just something! :) Maybe I am just reading too many Ron Legrand books!...? :SM110:

thanks,

Ryan

Luci Marcum
02-04-2005, 04:28 AM
If you give a low offer, the worst thing he can do is not accept it. I say why not :SM127: .