Dallas-Fort Worth Real Estate Investor Club

Possible Fix & Fip deal

  • 12 May 2014 8:11 AM
    Quote
    Message # 1551758
    David Savidge

    Hi gang!

    I am new to the real estate stuff and a not ready to start doing wholesale deals yet.

    However I was told of a house that may be a deal for a wholesale or a fix and flip.

    The story goes the owner tried to rent it a few times a got burned by renters. (Like you never heard that before)

    And now it just look abandoned.  Neighbors say a tree in the back yard fell over in the last storm and knocked a hole in the roof. 

    If any is interested it’s West Fort Worth.

    2925 Elsinor Dr. Fort Worth 76116
  • 13 May 2014 10:51 AM
    Quote
    Reply # 1552248 on 1551758
    Taylor Weakley
    David,

    By simply looking up the property on tad.org you can see the deed was from 2009. You can access this information through the public record and see the original loan was for $85,877 back then. Since you pay interest first we can estimate they owe probably around $80,000 give or take remaining on the mortgage. 

    At that price this property is not going to be a deal. For a majority of properties you can research and narrow down leads rather quickly without wasting a bunch of gas and time. It never hurts to talk to the homeowner and find out more information but I doubt there is a deal here from what I see at first glance.

    Feel free to give me a call anytime if you ever have any questions or need any help!

    Taylor Weakley
    817-939-9436
    taylorweakley@yahoo.com
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