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Updated over 10 years ago on . Most recent reply

User Stats

117
Posts
7
Votes
Mario T.
  • Banker
  • Glen Allen, VA
7
Votes |
117
Posts

lead with equity, what now?

Mario T.
  • Banker
  • Glen Allen, VA
Posted

Here's the scenario:

I am a new investor.  I found a lead from my probate list.  Found out that there is a lot of equity in the property, Seller wants to sell, but we can't agree on a price.  I want to wholesale the deal but the numbers won't work.  Seller said house is in decent condition with no major repairs, but I haven't been to the property so i don't know for sure.  

What are my options?  I feel like there's a solution but from my limited experience I can't come up with anything.  Help please!

Most Popular Reply

User Stats

28
Posts
5
Votes
David Torres
  • Real Estate Broker
  • Whittier, CA
5
Votes |
28
Posts
David Torres
  • Real Estate Broker
  • Whittier, CA
Replied

Hey Mario,

I had the same question as Winston as far as what the numbers were. If you don't mind me asking what kept you from going out to see the property? Talking to the seller in person might allow you to build rapport and get a better feel for what repairs are needed. That way, in the near or distant future, if circumstances change, they'll come back to you. Great job with the direct mailing.

Dave

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