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Updated over 10 years ago on . Most recent reply

User Stats

39
Posts
19
Votes
Faiz Khan
  • Moreno Valley, CA
19
Votes |
39
Posts

Need help

Faiz Khan
  • Moreno Valley, CA
Posted

I need your advice. I have a motivated seller who has a house that he wants to get rid of in California because he lives in Vegas. I have gotten him down to 140K, comps in the area are 150 to 160k. I need to know what can I do with this lead as this is my first lead and I want to make it into a deal. What are my options, if there are any? Thank you guys

Most Popular Reply

User Stats

1,773
Posts
370
Votes
Robert Adams
  • Real Estate Broker
  • Henderson, NV
370
Votes |
1,773
Posts
Robert Adams
  • Real Estate Broker
  • Henderson, NV
Replied

Are you trying to buy it? Represent the seller on the sale? Wholesale it?

If you want to buy for a buy and hold strategy we will need more info to determine what the cap rate etc will be to see if it is worth while.

There is not enough equity at the current price for a flip or a wholesale unless to plan to wholesale to an owner occupant that loves the property and is willing to pay TOP dollar for it. No investor will touch those numbers after a wholesale profit is calculated IMHO.

if you are an agent your best bet is to just help them list it and find a buyer willing to pay retail value/fmv for the property.

If you give us more info we can better assist you.

  • Robert Adams
  • 702-349-9175
business profile image
Adams Team at Rothwell Gornt Companies
4.9 stars
49 Reviews

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