8705 Birmingham DR
Austin Texas 78748
I am interested in flipping this REO through a double close scenario. Comps look to run around $150k. List price is $139. Looking to make about $7K on the flip. Thoughts on what I should offer to move it quickly.
After reviewing the report, your estimate of value is about right.
To determine your offer you must take into consideration the amount of work the end investor will need to do. $139K sounds a little high for asking price unless it doesn't need any major work (i.e. coat of paint and flooring cleaned up).
Without know the amount of work needed and with the assumption that it doesn't need much work, your offer should be around $110,000 - $120,000.
Hope this helps.