Posted by Todd VA on February 05, 2003 at 17:08:03:
Travis,
thanks for your response. You are doing it just the way that I thought it would be done.
On average, what is your accepted rate when doing it this way?
Todd
Offers “sight unseen” - Posted by Todd VA
Posted by Todd VA on February 04, 2003 at 19:07:06:
I hope everyone is having a great day!!
Here is my question:
I am in the midst of my first rehab, but I do not want to stop making offers. I can not afford to pick up another rehab so I would like to wholesale a few in the mean time. Unfortunately, due to my full time job and managing this rehab, I do not have time to go to every house that I want to make an offer on. For anyone who makes offers “sight unseen” what is the best way to do it? How do you factor rehab costs?
I am very fimiliar with my area and do have access to the MLS for comps. (I will be using the MLS to find props as well) I understand that doing it this way will decrease my number of accepted offers due to possibly very conservative estimates on repairs. My goal is to make at least 5 offers per week.
Any advise is appreciated.
Thanks for your time!!
Todd
Re: Offers “sight unseen” - Posted by Travis (Dallas)
Posted by Travis (Dallas) on February 04, 2003 at 21:56:58:
I make offers all the time just from looking at the MLS info. I fax the offers with a very small option amount with 2 or 3 days to inspect the property…The Texas real estate commission contracts have a place for this.
If my contract is accepted, I look at the property and have very little risk due to the option wording. I’ve been very surprised many times…property looks great in the picture, but has huge problems that didn’t show in the picture.
You’ll waste alot of time doing it this way…very few will be accepted.