Help! Is this a Good Deal? - Posted by Hazel Farmer

Posted by Lee on March 11, 1999 at 23:53:54:

Hi Hazel,

FIRST, Understand… I am no expert re: realestate.
Twenty one years in the school of hard knocks is not quite long enough. (LOL)

Please be spific as to the PURPOSE of you buying the proprety.

The $13,000 spread between the purchace price and the ARV (market value) could be OK for a homeowner but not an investor… concidering the amount of repairs required.

Re: “Asking $29,900. Has Note for $27,500” That sounds like the loan pay off plus the agent’s commission.

Here’s the beef:
You say “needs paint” Search “Lead Base Paint” (with or without caps) on this site.
You say “Could use carpet” figure up to $1.50 to $2.00 per square foot.
You say “Could use central air” I figure in the ball park of $2.00 to 3.00 per square foot for a new installation, dependes on the house.

When you do the figures (concidering the heated square footage (hsf) do your numbers look like mine for repair?

Good Luck.

PS. I bought LeGrands stuf at the convention, hope you did too.


Help! Is this a Good Deal? - Posted by Hazel Farmer

Posted by Hazel Farmer on March 11, 1999 at 19:03:10:

3br 1 bath 2 living 1 car carport wood frame house.Good neighbourhood good school district. Asking 29,900. Has a note for 27,500. Needs to be painted outside.Could use new carpet and central air. Minor wood fence work. Does have central heat but evaporative cooler. Price is negotable if its all cash and if she does not have to paying anything at closing. Comps are from 39,000 to 42,000 in same neighbourhood.