Advice on securing off market property with neighbor

[Jason Nordwall]

Hello everyone!

We are friends with a lady in our neighborhood. Her mom moved to assisted living last year and has left her house empty. Our friend has decided to sell the house. We know there is at least one other neighbor interested and a bunch of realtors’ have been cold-calling. Her plan is to sell this spring and she is leaving it to all interested parties to present an offer. She has said that she would prefer to sell to someone from the neighborhood.

The house is 4200sqft, 2 floors. Could be divided into two units without too much trouble. It is in good shape, but really needs an update (last remodel was early 80s).

This is Hendersonville, TN, and the market is hot right now, especially in our neighborhood.

I’m looking for advice on how to tip the odds in my favor. Is there anything creative I can do to ensure I get the opportunity to purchase the property?

I’m new to real estate investing – this would be my first property. I’m still undecided on whether I would rent or flip. I travel a lot for work, so flipping may be difficult.

Thanks in advance for your help. Please let me know if you need additional information.

Jason