Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago, 01/05/2017

User Stats

35
Posts
6
Votes
A.R. Coningsby
  • Flipper/Rehabber
  • Bedford, OH 216-678-4789
6
Votes |
35
Posts

How to buy a FSBO property

A.R. Coningsby
  • Flipper/Rehabber
  • Bedford, OH 216-678-4789
Posted

Hi I am in Broward County Florida and after doing some driving for dollars, I found a FSBO For sale by owner triplex 3 unit, that is not listed on the MLS and would like some help on finding the best way of obtaining this property. This will be my first investment purchase of which I plan on house hacking.

 After briefly speaking with the owner in her front yard, She said she has a mortgage with about 60k left on it and would like to sell her house as she no longer wants to deal with tenants, water bill, maintenance, etc. All tenants are on month to month lease. She said she will sell the property for 225k. The property needs some repairs so I believe the there is room for negotiation. She said she can't pay the mortgage and her only options at this point are bankruptcy, foreclosure, or loan modification. She I would like to purchase this with an Fha mortgage of which I have been preappoved for. 

Can any please guide me going forward? I'm not sure what my next step is in pursuing this deal.

Thanks.

Loading replies...