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Updated about 8 years ago on . Most recent reply

User Stats

33
Posts
6
Votes
Ryan Howard
  • Pittsburgh, PA
6
Votes |
33
Posts

How to go about purchasing property from relatives of a friend?

Ryan Howard
  • Pittsburgh, PA
Posted

So recently my friend tells me that his late great grandmothers house had been broken into and vandalized, the house is vacant and is owned by his grandfather. They want nothing to do with the property. With me currently trying to get my first deal done I see this as a golden opportunity. If I'm able to purchase the house I plan on using a heloc to purchase and do the rehab, undecided on weather to flip or use the brrrr strategy. I am very familiar with the area and it is a nice place to live. My problem is I have asked my friend multiple times to speak with his grandfather to see if he would be willing to sell me the house. And it seems I always get an excuse. Would it be wrong if I were to go straight to his grandfather and talk to him or should I continue to ask my friend to talk to him for me. What is the best way to go about this situation?

Most Popular Reply

User Stats

175
Posts
308
Votes
Michael Beeman
  • Casey, IL
308
Votes |
175
Posts
Michael Beeman
  • Casey, IL
Replied

@Ryan Howard

I face this type of situation all the time in my "other life" where I work in Client Relations for our Sawmill. Specifically, my job requires me to sign clients to deals using our company to select harvest their timber. Most of my clients are 50-60+. I often find them from Fathers and Grandfathers of friends; what I often do is simply ask for their phone number so that I can speak with them directly. I always try to do this as more of a "i know your busy, and I don't want to keep bothering you about this, would you mind just giving me your grandfather's number." ... Or in some cases, I find out what the address of the home is, look up the tax records and add the Owner's address to my Direct Mailing.  I hope this helps! 

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