Advice needed - Posted by maxs2000

Posted by dewCO on February 06, 2002 at 11:57:01:

Before you invest, you need to know the value of the home. The agent may not give you all the comps, and therefore you’ll only get a one sided story. don’t you have any friendly realtors that can pull all the comps for you so you’d have a better idea? Try to find one, even if you have to pay a little.

Advice needed - Posted by maxs2000

Posted by maxs2000 on February 05, 2002 at 10:29:34:

Over the last couple of months I have become interested in real estate investing and have begun educating myself. I have learned alot from reading from various authors but it seems more questions are raised after each reading. I think that is a good thing and also makes me realize that some of the questions can only be answered by jumping in.

Having said that, I don’t want to be foolish. Thus the following:

I have come across a small (728 sq. ft) 2 br 1 ba home. This home has been vacant for 4 years. I have not had the opportunity to look inside the home yet but structurally it looks to be fine. The asking price is $16,900. I have asked the agent to provide me with comps but he has yet to return my call. Since the property has been vacant 4 years apparently it doesn’t have an address. I have the street it is on but know house number. Would anyone care to comment on any of the above? Does anyone have any advice?