Need Help With Next Steps. . .

[Javier Diaz]

Hey All,

I just made a phone call to whom I believe to be a motivated seller. Unfortunately he wasn't available so I left a message with his employee. I asked that he call me back, however I'm freaking out just thinking about my phone ringing.

The property in question is across the street from the house I live in now. It's a single family, built in 1901, it's vacant and in pre-forclosure. From what I've been able to gather from Zillow and the County Court it was last purchased in 2002 for 175K. The houses on this block sell for about 380-550K respectively. There are no tax-liens on the property. I'm thinking if I could pick it up for 100K or less, I could invest 100K on renovation and sell it for 380K. leaving a good amount of profit left over. I know the property needs work, but I can't imagine it costing more than 100K for repairs, so that's a pretty high number.

I'm located in Woodhaven, Queens - New York.

Please advise on what my conversation with this seller should be.

Help BPers!