Just met with my first motivated seller and now...

[Brandon Proctor]

I am super excited to say I met with my first motivated seller about an hour ago. Let me first say sorry if my post runs pretty long but here is how I got to where I am.

I started my direct mail campaign on Tuesday night and had about 15 calls the next day.  One of the callers was a nice older lady who stated she wants to sell her rental property because she is tired of dealing with tenants and the turn over rate with her tenants.  I explained that I am a investor in the Cheyenne area and I would love to take that headache away from her by buying the property.  I continued to vet her by asking how much she wanted for the property, how long she has had the property and what was the lowest amount she would take for the property.

Fast forward to today, I went to the property with a general contractor friend of mine.  We both got to the property before the owner or the tenant did so we took a brief walk around the house.  Roof was in good shape and the foundation was good but the fascia, soffit and gutters will need some work.  Along with new exterior painting and a little landscaping for the small yard.  Once we went inside we quickly noticed the tenant was not the cleaning type and there was stuff EVERYWHERE.  The living room is a decent size with a huge fireplace and tall ceilings.  The kitchen was also a nice size with lot of character.  The ceiling however is a popcorn celling and my contractor buddy told me there may or may not be asbestos.  Each bedroom and bath needs a ton of work and there is also a loft area upstairs that definitely needs work.

The house is 1,649 sqft with a big 2 + garage 4 bed and 2 1\2 bath.  It also has the potential to be a duplex which is a plus.  After we looked at everything I could tell the owner was embarrassed of how bad the interior was because of her tenant.  She apologized around 3 times while we were inside.  I told her don't worry its nothing that can't be fixed.  She replied by saying how tired she was of being a landlord, I followed by saying I would love to make an offer with her very soon and I will be contacting her very soon.

I didn't leave with a contract which may be looked down on but I do believe there is a deal to be made here. Sorry for the long thread but I'm super excited.

Please give me your insight BP.