10/29/2007
I don't have a lot of time to write at the moment, but I wanted to leave a quick note about the counter offer I got today. I made an offer over the weekend on a property in my farm area that had just reduced it's price. It started out at 139k, then dropped to 119k. The ARV is around 150k. It needs no work. My offer was 90k. I got a call from the realtor today telling me they are countering at 93k!! Apparently someone else made an offer for 90k as well, so I guess I will be competing with another investor on this one. I'm going out to look at the inside first thing in the morning (I've only seen pictures of it on mls).
I'll update tomorrow. Gotta run.
Monday, October 29, 2007
There are no deals on the mls.......
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2 comments:
How did you arrive at the 90K offer? 70% of ARV is about 83K. Just curious because the ARV X .70 - Repairs = MAO forumula seems sacrosanct around the REI universe...
Thanks,
Chris
Hi Christopher,
The ARV on this is 150k. I think you are basing your calculations on the list price.
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