AWESOME FIXER UPPER OPPORTUNITY...must act fast

[Travis Munroe]

I went and took a look at a fixer upper priced in the low 300's today. It is a multi level home located in Deer Ridge/Deer Run area. Carpet has already been gutted throughout the home and with some fairly simple upgrades this home could sell in the low 4's.
The catch... the property has an offer that will be presented to the courts on Thursday. 3 prior offers were rejected by the lawyer and never made it to the courts.
PM me if you are interested and would like more details/mls listing. We would have to get a property inspection/pre approval (if financing needed) right away.

** This is not my listing, just a place i saw today with another CP member who is new to the "flipping" business and does not want to act so quick.

First property in the below link...
http://abmls.mlxchange.com/Pub/EmailView.asp?r=392615413&s=ALB&t=ALB

[Bagor]

Why the secrecy? Can't you just post the MLS# so the pro and cons of the flip can be debated as a community for that member?

i.e. landscaping, bathroom(s), costs, time etc ...

I'm willing to bet there would be just as much information garnished here for free than from your average inspection.

[Travis Munroe]

I am willing to bet that an inspection would turn out 10x what the cp community could do based on photos.
I have a couple of clients whom I deal with that might be interested. I need to hear back from them before I post the link which will be later tonight.
Many people on this site have their own real estate agent and I would hate to see one of my clients miss out on the opportunity because I made it so public.

[Bagor]

Fair enough.

I disagree with your over valuation on inspectors though. Unless that is your 10x includes ... dirt mark on wall - suggest painting ..., generally a waste of space IMO.

Also .... I'm willing to bet CP would probably give a better idea of cost than any inspector. Why don't you list IYO what needs to be done?

My advice for the individual considering their first flip. If you have a friend or know someone that knows a half decent builder/contractor get their opinion! Not a home inspectors.

[Travis Munroe]

I would ensure (and discussed today) that we have a home inspection and a contractor come into the property prior to writing any offer.
The home inspector I use has the infrared/thermal camera. He can also detect mold, electrical issues, heating issues and a number of other things that we on CP could not pick up on by photos. The purpose of the inspector is to ensure that only renovations need to be done and not repairs.
The contractor comes in and gives a white and black picture on costs and if things are feasible.
All of these have been taken care of and the CP member is in good hands. ( that reminded me of home alone for some reason lol)

[Bagor]

The contractor comes in and gives a white and black picture on costs
LOL! That'll be a first.....

If an individual is considering flipping a house and is putting his weight in the words of a home inspector I hear alarm bells. Especially considering you claim that all it needs is "fairly simple upgrades".

All I'm saying is that I personally put zero value in home inspectors. Why waste the money?

[Travis Munroe]

Added the link !!!