Posted by Natalie-VA on September 20, 2006 at 15:32:49:
Big Toe,
Do the other houses in the neighborhood have off street parking? This could be a problem unless they are all like that.
You really need to crunch the numbers to come up with what you’ll pay. Figure out how much it’s going to cost you to buy it, carry it, repair it, sell it and then add your desired profit in.
Come back with those numbers and ask us more questions.
–Natalie
My First Auction/Tender - How much should I bid - Posted by Big Toe
Posted by Big Toe on September 20, 2006 at 06:01:09:
Going to see my first autcion house on Thursday. The Auction is September 29th. I took a look inside through the windows and it looks in good repair. Even though it’s still one of the shabbier houses on the street, I’d live in it. No off street parking is the only downside.
Average house prices of similar size, since 2004, have been in the 130’s but one 2 doors down sold for $210K. My realtor told me they got ripped off, which I believe.
What is the absolute highest I should bid on this place if it all it needs is a fresh coat of paint throughout and a new set of porch steps. My plan is to flip it.
So far, I think about 3-4 people have shown any interest in seeing the property.
Big Toe