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Hey this is Steve Liang and Sidney Sum here with Real Estate IQ and today we found a real estate deal of the day here in the Dallas, Fort Worth area and we want to share it with you. Check it out.
Hey guys! This is Steve Liang and here is your Real Estate Deal of the Day. And we found a deal here in Dallas. This is the deal we find in Sunset Annex with the address over here. Hold on one second. Let's turn on the tracking. So now you can see my mouse. So we have the address here 1223 Waverley Drive South Dallas Texas 75208. And we see that's asking for 135,000 and the estimated after repair value is about 237,000; $237,611. Alright, so these are all approximates. So when we're looking at the margin here, we're looking at over a 102,000 of potential discount, right? So these are the profit we can make. So here, unfortunately when we look around there's only one very very highly qualified comp. But you can see that's in the same subdivision and we see that on the price per square footage that the comp is selling for a lot more than this subject property here. This is our subject property and there's no photo for this property. This deal here, precisely because it's a very good deal. We can also find the information here. You look at the public remark, is says great investment property. Property sold as is. Also a confirmation that this could be a very very good deal. Looking across more, you know the comp has an extra bathroom so I'll keep in mind for that and also the comp has a little bit more square footage. So, now let's look at the map and also the photos. At least a photo of the comp and see what kind of condition we wanna go into. But look at, let's look at the, let's look at the map view first. Looks like these two properties are actually right next to each other. And we can also pull the Street View because we don't have the phone numbers. Excuse me, we don't have the photos but we also still want to see what the property looks like. So this is the subject property. This is the property that's for sale here through Street View we can see what the property looks like and looks like the comp is just its next door neighbor. And this is a very nice desirable area. So you want to, you know this is why we are trying to look into this property. So let's look at the comp. This is the comp now. And as you can see it looks very very different from the street view. Now keep in mind that Google Street View is, they contain up to I think three years of history of information. So it appears to me that the Street View is a little bit more outdated. So these photos are more updated. Somebody purchased the property and rehabbed it and now it's looking real nice in sight. So here, wow! Very high end kind of remodeling. So that's what you need to put in to this deal in order to have this kind of estimated ARV. And how much is that, how much is that after you do the rehab, right? So make sure you guys watch the rehab budget calculator video and learn how to do rehabs. And after you do the, some analysis on the rehab you are going to find out, you know what kind of offer price you want to offer that would make it a deal. So there's, there's, I'm quite sure that there's a lot of rehab that's gonna go into the property and so after that. Is that still giving you a very good number for the, for the 70% rule. If not, then what kind of offer price do you want to do to make it a deal. So we're creating some of these webinars as well to explain a little more what the maximum, maximum allowable offer is just to kind of share with you guys how we analyze deals. So we are we putting those webinars together. So make sure you watch our webinars. So anyway this is today's deal of the day. We hope you guys enjoy it. It looks like it could be a very very good opportunity in a very nice area. So good luck and have fun hunting.
I want to invite you to my weekly Real Estate Talk, every Monday and Wednesday at 6 PM. This is an online event so you can join anywhere. But every Monday and Wednesday at 6 PM, I would invite a successful Real Estate entrepreneur to join us and we will interview them and they're gonna share with us their entrepreneurial journey, and you know what they think is what made them successful. I think you will find a lot of really cool stories there, and more stories you know as entrepreneurs we always want to learn from other people what their experiences have been. It's gonna help us be a lot smarter. We'll also talk about anything in real estate. For example, we do real estate deals market update, to kind of talk about a general market real estate market in general and you know where the deals are coming from and all that good stuff. So a very interesting Real Estate Talk. Make sure you join us!
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