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Updated almost 19 years ago,
Need help with first deal
I have a seller that has had her house on the market since November. Through Buy Owner and also through a realtor. I saw the home this weekend. The house would retail for $112,000 with some minor repairs. She's got it listed for $109,000, when I asked the sales price on Sunday when I went to meet with her, she said $104,000. Her motivation is to cash out equity and pay off some credit card debt. I can't see doing the deal if I had to pay more than $80,000. I think she might go for $90,000. Does anybody have any ideas? This is my first deal and I would have to wholesale it, so I have to keep that in mind. I need this to be profitable enough to sell to another investor and quickly. This is a Texas deal so a lease/option is not possible. I don't see how I can do this and make a profit. I want to mention I think the only reason it's been on the market long is because she has made no marketing effort and neither has her realtor. They listed in MLS and on Buyowner.com. She told me I was the only one who called her from that source.