Posted by NYINVESTOR on March 14, 2005 at 14:56:22:
Thank you for your response John. I needed an idea as to what to reply to the homeowner, or just walk away.
The property is 6 acres and a MINT 4 bedroom house built a yr ago. It is a country area. Not to many rentals, just big homes on big pieces of land. The other homes are selling for close to this price with the average home in the $500,000 range.
I’ll wait for his response and take it from there.
It really wasn’t the price range I was looking for to flip.
Which brings me to my new question which I posted on the board.
Question from a new investor - Posted by NYINVESTOR
Posted by NYINVESTOR on March 13, 2005 at 20:20:51:
I started advertising for myself(I want to get into wholesaling and assigning contracts.
I just got a call from a motivated seller, wants to sell ASAP because of relocating.
The prperty is a year old…has it listed with a broker for 635k, says the market value is 600k, but yet he says he’s motivated. I can’t figure out anything to offer but hate to walk away from a motivated seller. Anybody have suggestions?
Thanks
First, don’t take his word for the value.
What does he owe? What is the market like there? Are repairs needed, if so how much $ ? What terms will the seller accept? is he open to owner finance or L/O?
You need more details for anyone to assist you.