After examining all the contestants, the property that stuck out most to me was 74-76 Mills St in Morristown.
Here is a link to the MLS listing for the house and the comps
MLS Listing for House and Comps
Here is some more information I found out about the house
Additional House Information from the Tax Records
Owner’s Information
| Owner’s Name | RAMSEY, POLLY/JOSEPH JR | ||
| Owner’s Street | 74-76 MILLS ST | ||
| Owner’s City,State | MORRISTOWN, NJ | ||
| Owner’s Zip Code | 07960 | ||
| Bank Code | 00000 | ||
| Deduction Amount | $0.00 | Number of Owners | 0000 |
| Senior Citizens | 0000 | Veterans | 0000 |
| Widows | 0000 | Surviving Spouse | 000 |
| Disabled Persons | 000 |
Property Information
| Property Location | 74-76 MILLS ST | ||
| Land Description | 60X130 | Acreage | 0.1791 |
| Property Class Code | 2 | Zone | R-3 |
| Building Description | 1S F 1FAM | Tax Map Page | |
| Deed Book Number | 06591 | Deed Book Page | 00001 |
| Deed Date | 03/14/06 | Sales Price | $1.00 |
| Year Constructed | 1970 | Building Square Feet | 1834 |
| Additional Lots 1 | |||
| Additional Lots 2 | |||
| Prior Block | 00392. | Prior Lot | 00003. |
| Prior Qualification |
Exempt Property Data
| Exempt Property List Code | 0000000 |
| Exempt Statute Number | |
| Exempt Facility Name | |
| Initial Filing Date | 10/04/70 |
| Further Filing Date | 06/28/76 |
Assessments
| Land Value | $194,300 |
| Improvement Value | $134,200 |
| Net Taxable Value | $328,500 |
| Prior Year Taxes | $8,304.48 |
| Current Year Taxes | $0.00 |
Sales Information
| Serial Number | Sales Price | Deed Date | Book | Page |
| 1683 | $0.00 | 07/31/95 | null | null |
| 1684 | $172,000.00 | 09/24/96 | null | null |
| 5268 | $1.00 | 03/14/06 | null | null |
Question
What would be the best way to go about making the offer?
- Call the Listing Agent myself and make the offer directly to them? (note I’m still not hooked up with a broker so my license is invalid)
- Have an Agent friend put the offer in for me?
Scott is a part time wholesaler, but full time real estate investing addict! As his family grows and his free time shrinks,He has been slowing building his wholesaling business over the past 7 years in between life events.Drive, dedication and never giving up are his strengths.
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Comments 16
Scott,
I would contact the Listing agent directly and present your offer as a regular consumer. Since, you aren't working with an agent, most listing agents will be more inclined to work with you in hopes that they can keep the entire sales commission. By contacting them directly, you are kinda playing to their greedy side and I have found that more listing agents are eager to help customers that are not affiliated with an agent. Just my 2 cents.
I agree with Khary on the listing agent. Very good job on pushing the offer forward. This is no different then mailing the first letters. Get over the fear and get that first one done. I see no reason why you can't get the offer out by the end of this week. Good Luck.
On a side note:I have an abundance mentality, but I recommend not posting exact properties until you have them closed. Your blog is far to popular and I would hate to see someone bid against you.
Definitely agree with Khary and Jason — put the offer in through the listing agent. The big reason to use your own agent is to have someone who represents you, but considering you know real estate contracts as well as the listing agent, that shouldn't be an issue.
You bring up some valid reasons to go directly with the listing agent Khary. Thanks for throwing your pennies on the table 🙂
For now, I don't mind posting the exact property information. It helps me and probably my readers connect more with what I'm struggling to accomplish. Besides I don't think I have to many readers where it would affect any outcome. Appreciate you looking out for me though
Good points J Scott!
I double triple and quadruple agree with everyone else. Contact the listing agent. And I also was thinking a few things: 1) I love how you actually put ALL of your information out there and show and tell what you're trying to do. I think it's awesome and 2) I was also thinking exactly what Bilgefisher said….about not posting all of the details of your deals because sooner or later you may have someone “steal” it right from under your nose and if they get the deal because of normal circumstances well that's not an issue but if they get the deal because well you told them about it, well that just stinks.
So did you decide what you were going to offer on the property?
Ack! I tried to ignore this, but I simply can't….you just said you're “struggling” to accomplish! Change your words, change your life 😉 You know Shae loves ya…have a great weekend!
LOL, I actually put that in on purpose to see if someone would comment 🙂 I appreciate the always encouraging words Shae!
I talked to my REI friend Bruce and he took a look at my comps for the property and said I should re-comp it and he explained how he would do the comps. I'm going to rework them and then make the offer this weekend.
Stop screwing with me Scotty! LOL!
Y'know, I always thought that about the title of the blog itself. You got the moves, quit struggling! 🙂 OK Scott, I'm not bein' polite anymore…..I'm buttin' in. Just think about maybe your title is a self fulfilling prophecy ??? how about KICKA$$ INVESTOR or GO GET 'EM Investor or I HAVE REALLY KILLER IDEAS investor or GREAT SYSTEMS INPLACE investor? I agree with Shae…….
Do it! 🙂 listing agent….go….now.
Well, Did you get the offer in???
Kelly, LOL! Just ask Scotty how long ago I told him exactly what you just said. Just ask him! It was well over a year ago. Ok, I'm done now.
Scotty, we only say it because we care 🙂
No problem man, every little bit helps.