Posted by GREEKVESTOR on November 03, 1998 at 23:37:54:
Just because a property is offered as FSBO does not necessarily mean that you can buy it cheaper than a similar property offered for sale with an RE Broker!
I’ve found that many FSBO owners get overzealous and try to pocket the Agent’s commission.
The key is “flexible seller”, rather than FSBO purchase or purchase with Seller’s Agent involved.
If I may recommend, try to find a buyer’s broker. They’ll do wonders in your case. They work for the buyer.
Recently, my broker found me a 54K vacation home, which appraised 95K by the lender. Of course, I grabbed it before it flew away from me. Now, I will REFI for “cash-out”, get my investment deposit back, and stash about $12,000 in my pocket!
Buy a cheap property to minimize your initial risk, with enough rental income to pay its own expenses. Try FANNIE foreclosures.