Creative Ways to Close a Deal?

[THU NGUYEN]

Hello BP members,

I'm looking for advice of a possible deal that I am currently talking with an agent and not sure how I can do traditional buy/sell  but I know there are alot of creative ways the experienced investors can suggest and help me out:  Here is some details I have 

ARV: $135K

Current Mortgage: $112K, 4.875%

Repair: $15K 

Do not owe anything on back tax, or any other lien. Owe HOA $400.

Seller does not have money for the repair and bring the house to date to get ARV of $135K. The house is currently listed with on the mls for $122K as is. That means additional 6% commission, paying title policy and closing cost. At full price offer of $122K (which is unlikely, DOM is already 76), I think seller is walking away with zero or close to zero.

What can I offer to create win-win for both me, seller and listing agent?  I can rent the house out for $1300 if I put in $15K to fix it up. "Subject to" would work?  I need to be able to give the seller some cash, same with listing agent if I want to do this deal.  

Thank you in advance for your suggestion.

[David Dey]

this is definitely a slim deal.  The only way this makes any sense is if you are planning on using this as a rental.  

With a 30 year am, the payment is probably around 593. Plus taxes and insurance.

Let's say you offer to pay the 15k for repairs plus 5k for seller and agent and the HOA.

Would paying 20k for a probably 400 positive cash flow be worth it for you?

If so, then you could use a couple of scenarios.  

A lease option, and agreement for deed, a sandwich lease or a land trust deed subject to the mtg.

Keep in mind, the seller may not care about receiving cash and simply wants the relief of not having to worry about a payment or any repairs anymore.

Also if you are dealing with the selling agent, maybe offer them the 3% payment they would receive if they were splitting the commission with a buyers agent.  

These are your options.

Hope this helps.