Wholesale (Hot Market) - Posted by amanda (NY)
Posted by amanda (NY) on September 18, 2004 at 09:31:21:
I have learning REI and trying to wholesale. I learned manythings from Ron Legrand’s materials (find junkers and flip to investors) and looking for ugly houses. Where I live (Westchester County, NY) RE is crazy. Well, I guess, it’s crazy everywhere… I have several questions about wholesale.
I have came across several houses which is listed by realtor and asking prices are around $600,000. Houses are very ugly and looks like no one wants to live there. Anyway, when I did my math, my offer was somewhere around $400,000. When I asked to reltor to make an offer, she said she can’t accept the offer because it’s $200,000 lower than asking price. Since she is the listing agent, she is the only person I can submit offer. I don’t want to find out owner to make an offer directly to him/her. Should I pass this property and move on next?
When you are dealing with so called “Hot Market” and if realtors are involved (especially s/he is not corporative), how to deal with them?
I also found some houses on web. There are listed as “handyman special” and " sold as is". However, I haven’t seen the house yet since is’t about an hour drive to get there. I have talked the owners of the houses (this is FSBO) and received some pictures. Does anyone make an offer without looking at the properties? Or is it’ risky?