CA Wholesale Blog

Investing Where The Market Is Strong

With most “bread-and-butter” areas in severe real price declines, it’s refreshing to see that some areas and some segments of the market are doing quite well. Of course, all real estate is local - so the only thing you need to figure out is what parts of the market are still hot.

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Dear Visitor:

…hopefully you’ve had a swell Memorial Day.
We had a little cook-out with the family, and
I just finished giving my three sons buzz cuts.

Way to go for Memorial Day family fun!

OK, I’ve decided to give you a little insight
in my wholesale business today as I want to
talk to you about a very special piece of
real estate.

It’s so special, that I’ve been following up
and prodding the seller for more than a year
now - talk about persistence…

The property is a 2500 sf house on a 20,000 sf
lot in one of the best parts of Arcadia, CA. The
specific location is North of Foothill Blvd,
between Baldwin and Santa Anita: a multi-million
Dollar neighborhood.

Zillow has the value of this property at about
$1,270,000. Newer, 2-story homes in the immediate
area are going for around $2,500,000.

As I mentioned before, this is a fixer. It has been
vacant for a few years and needs updating, but there
is no major damage to the house.

Now, here is my question: What would you do with
this property, and how much would you pay for it?

And I don’t mean theory, what I mean is: If you
are interested in that kind of property AND in
a position to close the deal, how much are you
willing to pay?

This deal is about to happen and I’m really eexcited
about it, but frankly, I wouldn’t want to promise the
seller a price that I can’t close on with a buyer who
is ready to go.

So I thought, why not ask you first…

Now, I know, you couldn’t possibly commit to a deal
like this without knowing more details, and of course
you would have to verify the information that I give
you here.

But suppose for a minute that my numbers are good
and the property is as exciting as I say. What’s
the MOST you’d pay? (I know it’s easy to come up
with a number that anyone would pay, but I don’t
think the seller will go that low.)

Big secret: The key to closing great deals is to
make them win/win, otherwise someone else will, and
you’ll miss out again. BTW: It’s not neccessary to
pay ALL CASH for this. The condition of the property
would probably allow conventional financing…

So, why don’t you leave a comment to this blog post
right now and let me know at what price range you’d be
interested in this deal?

I’ll talk to you soon. - Have a great day!

Thomas Bartke

P.S.: Join the new real estate community at
The Property Channel: http://ThePropertyChannel.tv

It’s free to join, share pictures, videos,
listings, deals, and anything else that gets
you excited about real estate!

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