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Updated over 8 years ago,
Is this deal worth pursuing?
Goodmorning BP! Hope everyone is having a fantastic morning!!!
I got my first call from a motivated seller... & am going to look at the property with her this afternoon.
Earlier this week a jehovah witness was passing out flyers, & I was like since you're giving me a flyer let me give you my business card, as I work with a group of investors who buy houses for cash. She then gave me a call later this week... And after scoping out her motivation, I found out that she is extremely motivated.
She has a home that she was renting out... The tenants just moved out... & she wants to get rid of the house, just so it it out of her hair & she doesn't have the money to do any repairs to it.
I got all the information that I needed over the phone, & drove by the house / neighborhood last night. The house definitely needs a new roof and other houses in the area only sell for $15,000 to $30,000. She owns the house free and clear. From what I can tell this area is a C or D neighborhood, minutes away from a zoo though(; but, I'm new to the Jackson Mississippi area, so I'm not too sure of the market in certain parts of town.
My questions are:
•Am I wasting my time with this one? Because of how low I would have to offer on this house?
•Would an investor even consider buying in a price point that low?
•I want this to be a win-win-win... & I don't want to make this woman feel as if I'm providing her nothing for her house... With that being said, if I could make the numbers work in a profitable manner, should I still offer as low as I can?
I'll have more information after I meet with her at 3!!
Thanks in advance for the advice.
Would also like to add how much of a blessing bigger pockets is.
-To everyone's success, Trey.