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Hi Jackie: My wife and I are considering doing the HBS on our personal home. It is a duplex located in San Diego, Ca. It is a home we owe $255K on with Wells Fargo. We have spoken with a realty company called Renovation Realty, whom specialize in selling homes that need work prior to selling. They have their own in house rehabbers. The estimate of repairs to bring curbside appeal is $36K. On top of the 6% realtors fee if they sell it. Attempting to enlighten my wife thats approximately seventy thousand dollars. She is a member of toastmasters and knows a realtor that is saying we could easily get $500K for it in its present condition. Renovation realty even after the renovation is done suggested they feel it will sell for around $429K. When we combine the cost of $255 for the mortgage plus the $70K in rehab and broker fees, thats a lot of money not to even try the HBS. It also reflects the brokers do not give it much more value after the rehab than before. For every dollar invested they project a dollar return.
How does our membership work where you say experienced members can assist with the HBS sale of an unexperienced member? Is it voluntary assistance? Is there a fee? Naturally if we decide to do this, in which I am already convinced, we wish to put forward our best attempt by following your recommended steps in the manual. The guidance of an experienced member though would give us supreme confidence. The property location is 3741 52nd st, Units A/B, San Diego, Ca 92105. Would appreciate your insight on this matter.
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