Real Estate Investing - Handyman Special

Author

Handyman Special - Looking to sell

MissNegotiator

2007-01-08, 3:25 am

Handyman special for sale in Salisbury, NC! The 3 bedroom, 1 bath
(could be 2 baths after rehab)house is a fantastic deal. Selling price
is $30,000, with an appraisal that shows the after-repaired value to be
$87,000 and a repair list around $30,000. Lots of potential equity!
Obtain the appraisal with pictures and additional information including
contractor's repair estimate by sending an email to:
melissamiller88@hotmail.com.

Gain access to the MLS by visiting
http://msykes.wilkinsonandassociates.com. Sign up to be one of the
investors I email first about great rehab deals by emailing me at:
melissamiller88@hotmail.com

* I am an active real estate agent though I am not acting as an agent
in any way in this transaction. I must disclose that I have a financial
interest in the property.

M. Sykes
NC

Junior

2007-01-09, 3:25 am

Melissa, not too many investors that I know, are going to be willing to
put up $60K plus closing costs, plus interest while waiting to get the
rehab done and sold, plus maybe a real estate commission to make a
measly $20K. This is not the fantastic deal you seem to think it is.

"MissNegotiator" <melissamiller88@hotmail.com> wrote in message
news:1168227998.126145.128150@51g2000cwl.googlegroups.com...
> Handyman special for sale in Salisbury, NC! The 3 bedroom, 1 bath
> (could be 2 baths after rehab)house is a fantastic deal. Selling price
> is $30,000, with an appraisal that shows the after-repaired value to
> be
> $87,000 and a repair list around $30,000. Lots of potential equity!
> Obtain the appraisal with pictures and additional information
> including
> contractor's repair estimate by sending an email to:
> melissamiller88@hotmail.com.
>
> Gain access to the MLS by visiting
> http://msykes.wilkinsonandassociates.com. Sign up to be one of the
> investors I email first about great rehab deals by emailing me at:
> melissamiller88@hotmail.com
>
> * I am an active real estate agent though I am not acting as an agent
> in any way in this transaction. I must disclose that I have a
> financial
> interest in the property.
>
> M. Sykes
> NC
>

MissNegotiator

2007-01-09, 8:25 pm

Junior-
Thank you for your opinion, however, I don't think you are
representative of investors as a whole. Many of the investors I deal
with don't assume the position that $20,000 plus potential rental
profits (if using property as a rental) made on an investment property
is "measly" considering it is $20,000 that they didn't have
before and which was earned by doing what they love. Additionally, a
property sold at 70% of the market value is seen by many as a good
deal. Finally, I always suggest that investors have a realistic and
clear plan and timeline for rehab projects prior to purchasing any
investment property. I always find that the investors who talk about
large profit returns in short periods of time without work are just
that - all talk. Investing is the work we love to do, not a get-rich
quick scheme.

Junior wrote:[color=darkred]
> Melissa, not too many investors that I know, are going to be willing to
> put up $60K plus closing costs, plus interest while waiting to get the
> rehab done and sold, plus maybe a real estate commission to make a
> measly $20K. This is not the fantastic deal you seem to think it is.
>
> "MissNegotiator" <melissamiller88@hotmail.com> wrote in message
> news:1168227998.126145.128150@51g2000cwl.googlegroups.com...

Junior

2007-01-09, 9:25 pm

Melissa,
There are too many deals out there. You need to be more selective. If it
is a rehab or a flip, I will not touch it for less than 40%. If I can't
get at least that, there is always another deal of a lifetime coming
tomorrow. If you think $20K is good money, you need to revise your
thinking. I might be willing to flip a piece of dirt for $20K but, I
wouldn't think of touching a rehab for that kind of money.

"MissNegotiator" <melissamiller88@hotmail.com> wrote in message
news:1168385962.516310.216820@p59g2000hsd.googlegroups.com...
> Junior-
> Thank you for your opinion, however, I don't think you are
> representative of investors as a whole. Many of the investors I deal
> with don't assume the position that $20,000 plus potential rental
> profits (if using property as a rental) made on an investment property
> is "measly" considering it is $20,000 that they didn't have
> before and which was earned by doing what they love. Additionally, a
> property sold at 70% of the market value is seen by many as a good
> deal. Finally, I always suggest that investors have a realistic and
> clear plan and timeline for rehab projects prior to purchasing any
> investment property. I always find that the investors who talk about
> large profit returns in short periods of time without work are just
> that - all talk. Investing is the work we love to do, not a get-rich
> quick scheme.
>
> Junior wrote:
>

Dxant

2007-01-10, 1:25 pm

$20k is good money depending on what part of the country you live. Here in
the south, $20k is the equivalent of about $29k up north. While one investor
may think $20k chump change, it may make another drool and do cartwheels.
"Junior" <Junior@home.com> wrote in message
news:KJmdnQa31fJuxDnYnZ2dnUVZ_riknZ2d@adelphia.com...
> Melissa,
> There are too many deals out there. You need to be more selective. If it
> is a rehab or a flip, I will not touch it for less than 40%. If I can't
> get at least that, there is always another deal of a lifetime coming
> tomorrow. If you think $20K is good money, you need to revise your
> thinking. I might be willing to flip a piece of dirt for $20K but, I
> wouldn't think of touching a rehab for that kind of money.
>
> "MissNegotiator" <melissamiller88@hotmail.com> wrote in message
> news:1168385962.516310.216820@p59g2000hsd.googlegroups.com...
>
>

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