Posted by Lonnie Turner on March 31, 1999 at 19:02:28:
I am teaming up with a creative agent who is also a investors & I will pay him a fee when we close on the house. If I find a house we will go & see it and he will do estimate and then we will write a offer. I will be paying him a portion of my net.
Posted by Brian W(IN) on March 31, 1999 at 09:27:15:
This question is for all investors who are currently wholesaling properties.
I want to know how do you determine the repair costs on a property quickly and without using a contractor to do an inspection?
The reason for the question is that I want to be able to put in an offer on a property quickly even if I don’t get a proper inspection done beforehand.
Take your checklist of necessary repairs with you to your local Home Depot, walk around the store and copy down the prices of things you’ll need. After doing this a few times, you won’t even have to make the trip.
The employees at Home Depot will even help you. If you give them a description of the kitchen, for example, and pick out the quality of materials you want to use, they will design the kitchen for you on their computers and givc you the price.
Why pay somebody to do something you should be doing yourself?
I wouldn’t worry about getting an estimate. Just put in your lowest offer, negotiate, contract to buy at whatever price, be sure you have an escape clause,call your investors to look at your property and let them determine if they can turn a profit from it! Hope this helps, Dave(Mi)