I am eager to put an offer on this property: Burt St. CA
This home needs some TLC and I have a couple of rehab buyers that like this area just East of Los
Angeles County Line. Similar Properties located within LA County easily would be an additional
$100,000 asking price.
Please give me your opinion of what I should offer and ARV.
Looking at the most recent sales data on the InvestorCompsOnline report (6-7 months old or less)
the ARV of this property appears to be around $340-345k. There are several newer properties
selling for around this amount that would typically make us think it should be lower but the square
footage on the property you are considering is one of the larger sales.
With this ARV in mind and assuming $20k to remodel it up to the neighboring properties quality,
about $20k additional for expenses, buyers costs, and marketing; the offer amount would need to
be no more than around $240k to make this a good deal.
Good looking property but be sure to adjust your offer number according to actual repair numbers
and start your bidding below your max so you have somewhere to go in negotiations.
To your Success!!