Imakemyrules, Home Buyer in Virginia Beach, VA

i want to know what my ability to make money on 5212 bardith circle.

Asked by Imakemyrules, Virginia Beach, VA Fri Apr 6, 2012

if i buy now at 146, what are my chances of making a decent amount of money with in 10 years.

Help the community by answering this question:

Answers

4
Great question. If you are an investor and would like to know your rate of return over 10 years, there are a couple of things you may want to consider besides the purchase price. Of coarse this house is alreay under contract, so the real question becomes how do you turn a profit or generate some revenue in the next 10 years purchasing at 146. Am I right? If you want solid answers, give us a call. We help investors all the time. 757-816-4777 or visit http://www.realestate.virginiabeachhomestore.com
0 votes Thank Flag Link Sat May 11, 2013
1. Were it not for its being under contract, what would you do with it for 10 years? Rent it, live in it, or live in it and completely update it? If is not competitively saleable in 10 years you will make $0.00.
2. Despite the description, what is the seller's definition of "updated kitchen"?
3. New carpets? Are they of a quality equal to or better than than you'd pick yourself? or of a quality barely minimal to a buyer?
4. How old is the HVAC?

The agent you've hired where you are their CLIENT and not their CUSTOMER should be posing these questions. That agent's job might entail TALKING YOU OUT OF A HOUSE. If you are wondering what I mean CUSTOMER or CLIENT then A. the agent you are working with may not overly be the best one because they have never described the difference, or B. you are not working with an agent.

If B, then when you approach a Listng Agent (because you have not hired a Buyer's Agent) to buy a property and write the offer, be aware that the Listing Agent WORKS FOR THE SELLLER.
0 votes Thank Flag Link Sat Apr 7, 2012
Traditionally, holding real estate long term is always a good investment. There are never any guarantees however.
This property is under contract right now contingent on a home inspection and POA/ Condo docs. In my personal professional opinion, I would not buy a condo as strictly an investment property. I would buy it for a lifestyle I wanted to live. The complex does have to pass VA and FHA compliancevin order for someone with a VA or FHA loan to purchase them. They could currently meet those guidelines, but there is no guarantee they would not lose those compliance criteria. I have seen that happen. You could potentially be in a position where only a buyer with a conventional loan or cash could take it off your hands. Again, my opinion.
Do you have a buyer's agent helping you find a property that would be a good fit for what you are looking for? Feel free to contact me at 757-202-7845 for help. Amy Lang, The Real Estate Group
0 votes Thank Flag Link Fri Apr 6, 2012
Hello. Unfortunately, this property is already under contract. However, there are many other similiar properties that are priced lower with a higher equity stake in this current market. Making money now only helps ensure profit in the future.
If you would like me to send those to you, please let me know.
Thank you
Deirdre Love
Realtor
Keller Williams
dlove@kw.com
757-633-7350
0 votes Thank Flag Link Fri Apr 6, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer