First call from Craigslist!! - Is it a deal?

[Carrie Collyer]

Getting calls from my ads! I’m excited - this will be the first seller I’ve met with.

Received a call from a couple who cannot afford their house payments. Will rent another home since their credit is not good. Home was built in 2012. He has owned for 18 months. 3-4 bed 2 bath. In good school district. He owes 140k. His pmts are $1000 piti.

New homes in sub are being sold at $175k.

His home is listed and he is asking 159K.

A similar home was sold for 155k in June.

I will meet with him and his wife tomorrow.

I am thinking a Lease Option would work. I would pay seller (directly to bank) $1000 month and option house for $150k.

I would option to buyer for 175k with $1250 rent payments.

I would consider subject 2 but not while it is listed.

I haven’t done one of these for almost 10 years!

Any feedback on this deal would be greatly appreciated.

Thanks in advance! Carrie