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Updated over 5 years ago on . Most recent reply

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One of my Wholesale Leads are Requesting my help

Zechariah Crosby
Posted

So I’ve been working this lead since I started taking action in real estate wholesaling 3 months ago. Shes a Retired older lady who can no longer keep up with her home and needs to sell soon as she will be living with her Grandchildren in their Mother-in-law suite. Ive been following up with her every so often. And she finally came around and said that she is serious about getting rid of the property and she is packing up memorabilia at the current moment and later down the road when its closer to move time she will be having a garage sale. Now this is one of my better/loyal leads she requested that I fix her Bathroom shower Faucet at my expense that is leaking and killing her water bill at $500 a mo which is stressing her out. And she says that I can take the cost out of the Purchase price of the contract which we have yet to discus. How should I go about this whole ordeal. I assume its a small simple fix but I dont/cant spend my own money for a house that isnt “mine” or at least under contract. How should I go about this whole situation im curious to see what you kore experienced investors would do. And what should I offer her INSTEAD to fix the problem?

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Lynnette E.
  • Rental Property Investor
  • Tennessee
2,401
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Lynnette E.
  • Rental Property Investor
  • Tennessee
Replied

Maybe give her a price for the repair then say that if you enter into a contract for you to buy the property you can take it out of the contract and if you do not enter into a contract to buy the property then she needs to pay you that amount when the property sells.  Have this written up and signed.  Then you get paid either way...when the property sells.  It show you understand she is broke and you are trying to help her.

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