Posted by lou on July 14, 2001 at 13:57:02:
Im new myself but i’ve read a couple of posts with people having trouble selling out right and having no trouble finding a lease option buyer. I geuss it depends on what kind of price you can get it for and what the market value really is. I think in the how to section there is an article about appraising property values. You may check it out and get a good idea what the property is really worth.
new investor needs opinion/help - Posted by e. clorina
Posted by e. clorina on July 14, 2001 at 09:16:51:
I am a new real estate investor. Have read maybe a couple of books for education. Have not had any deal yet. There’s this house in my community which is about 2 years old. The original builder was not able to sell it thus it was auctioned. A buyer bought it at about $185,000. This buyer immediately put the house on the market for about $10,000 more but it has been on the market for about a year. The house is brand new. Nobody has ever lived on it before. I was wondering if I should offer the seller now for less and then put it back on the market. The house is worth close to $200,000 now. Does any body have any idea?
Also what’s a good way to start investing for somebody who is new in this field?
Thanks.
Re: new investor needs opinion/help - Posted by Tom Indiana
Posted by Tom Indiana on July 15, 2001 at 01:07:48:
Why not see if you can get an option to buy this house at 185,000 or so, then start looking for a tenant/buyer to purchase on a lease option.