Does anybody do this??? - Posted by Alex S.FL
Posted by Alex S.FL on January 13, 2001 at 23:06:02:
I just want to get some feed back on something a new aqaintance of my mine is doing and it seems to be working quite well for him. I was going to try it myself. ARV-70%-repairs(15,000)=offer price. The trick is to make the offers first and see who’s motivated and save drive time gas etc…, upon acceptance go look at the houses and adjust my numbers if need be or just backout. I am aware I am missing a number of deals but I am trying to generate some cash (flip them). The 15k is just a guestimate, so I would have room to flip and profit for the flippee. Also the numbers are hovering around 50-60% of ARV should I be concerned about the margin? (to big of a spread)not that there could be in REI.
P.S. Theses offers are being presented by two or three realtors who claim not care as long as it meets my critiera and are aware of how “investors” work.
Forgive me if I sound nieve but I’m stumbling through as fast as I can. Need to feed my family.
Thanks for everybody’s input. This web site will and is saving me from J.O.B (Just Over Broke)