In need of 16,000 for a nice little home

[Travis Elliott]

Hi

My Realtor just called me and we found a repo for 14,900. Our market in Montana is still decent compared to some areas so a house at this price is a steal.

Also there is a brand new two car garage on the property the kitchen has new laminate and the roof is new.

So the deal is that I would like to offer over the sales price of 14,900 somewhere around 16,200 .

Where can I get this kind of money with good credit. (mid score (743)..

[Will Barnard]

Travis,
I would lock in a specific estimate for repairs and factor who would be the end buyer in a flip scenario. If a retail buyer, then would they be all cash or financing? If financing, is that small of a loan available in yoru area? If a landlord would buy it to rent, then you can certainly get away with minimal repairs to flip it. What is teh rent value?

These are things you should know ahead of time BEFORE making your offer.

Second, go direct to the list agent/broker and have them represent you so that they get BOTH sides of the commission. Often, an ALL-cash and only full price offer with the double dip for the agent gets it done.
Why pay more if you don't have to. That stated, if the home could sell for at least $30k to a landlord and your rehab would be $4k or less, I could see making an offer up to $17k.

If you can answer all of these questions for me either here or in an email or PM, I could be interested in funding this deal for you.
Will
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