Posted by LS on November 03, 2003 at 15:53:32:
Find out the compareable values of other homes in that area. If they average about $70k then you have a deal on your hands. Fill out a Sales Contract with your mom for $35k. Then take a drive through the neighborhood, and write down all the phone numbers of the signs that read “I Buy Homes”. Give all of them a call and tell them you have a property for sale at the price of $44k. They will take a look at it and if they call you back and make an counter offer, settle for nothing less than $38k - $40k. If you agreen on a deal, simply Assign the Sales Contract to them. Done deal.
Just Getting Started - Need Advice - Posted by Monica
Posted by Monica on November 03, 2003 at 15:16:27:
My mother is out of town and owns my grandmother’s home,she wants to sell and asked me to work out the details. There is no mortgage, It is in a low-end neighborhood. I don’t want to take it to a realtor I would love to sell it myself. She wants $35k, it needs at least $3500 work into it. What would be a way to go on this? I was thinking of flipping it.
Re: Just Getting Started - Need Advice - Posted by David Garcia
Posted by David Garcia on November 03, 2003 at 17:26:28:
Another option you have is… after signing a contract with your mom, place an ad that says…
3bd/2ba 1500 sq ft.
4K Down $500 mo
This way you can sell via Contract for Deed for FULL value, get some downpayment and after a year or so, get cashed out for the balance.
If you sell to an investor, you will have to sell at a discount.