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Updated over 9 years ago on .
Need expertise on a deal
I just finished a rehab project. Bought it 8/2 ($69,000) Rehabbed it in 3 weeks ($12,000) and got first offers the fourth week. They couldn't get financing.
My current offer ($116,000) is a verbal agreement. They claimed to have a buyer for their home and gave me a $1000 earnest money deposit which i haven't cashed.
The buyers have their home now listed on the MLS at $150,000, but I think it needs probably $10,000 in rehab to get that $150,000.
I've never done a property trade but I think if I got them into my home with a couple thousand in their pockets, it might work.
Are there any tricks or suggestions on getting me into their home so I can rehab it but also be able to get cash out?
Need your expertise. Thanks!!