Need ideas fast! - Posted by Joe Skodny

Posted by dewCO on November 04, 2000 at 19:55:59:

Wow, skinny, skinny, skinny. They’re skinny and your deal is way skinny. Looks like they need to dip into their credit cards as a resource maybe. No way to get it out of these deals.

Need ideas fast! - Posted by Joe Skodny

Posted by Joe Skodny on November 04, 2000 at 19:11:33:

I had a couple call me this week about buying their two homes. They just built a new home and have not been able to sell their two homes. They need $8-10,000 cash to close the deal on their new home. Her house is maxed out with a $95,000 mortgage (Value $95,000 Conservatively) . I had planned to lease/option or purchase both of them with $4,000 down and have my tenant-buyers purchase them within one year. His home has two mortgages totaling $73,000 and worth about as much. Maybe $78,000 (Conservatively). I was going to sublet the property with $4000 down each and sell the one for $105,900 and the other for $86,900. Her home has a 15 year mortgage of $1100/mo and his $763/mo. They are scheduled to close on the new home in 2 weeks.
Thank you in advance for you help and advice. Joe

Simple Solution! but cha - Posted by Ira P

Posted by Ira P on November 04, 2000 at 21:12:17:

Shoulda thought about this a few months back!

I’d offer her $100,000.00 in cold hard cash! Even if it had to come out of your own pocket it really would’nt be a bad deal. Let them bring the remainder to wrap up the deal. Hey, people do it all the time. All the time!