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Updated over 9 years ago on .

User Stats

1
Posts
0
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Micah Boaz
  • Wholesaler
  • Ringgold, GA
0
Votes |
1
Posts

Need expertise on a deal

Micah Boaz
  • Wholesaler
  • Ringgold, GA
Posted

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!!