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Updated almost 10 years ago on . Most recent reply

User Stats

45
Posts
11
Votes
Rahdia Green
  • Wholesaler
  • Gaithersburg, MD
11
Votes |
45
Posts

Owner Just wants payments paid and practically wants to give away the property

Rahdia Green
  • Wholesaler
  • Gaithersburg, MD
Posted

I spoke with an owner that lives in Maryland but has a property in NC. She still pays the rent and it's becoming a burden. She wants out immediately (because of her current situation with having to move out of her current home). 

She expressed to me that she's just looking to get help with paying off what she owes and giving the house for $1 if she can...

So that leads me here.. My question is. As an investor what can I (or an end buyer) do to help someone in this situation?? *the amount owed is pretty high* 

Numbers:

1,968 sqft -  3br - 2 bath - owned for 10 years - basement - few upgrades

ARV: 115,000

Owes: 93,000 *no liens or other fees* 

Repairs: ext paint, carpet in basements, front/back door

Most Popular Reply

User Stats

6,088
Posts
3,921
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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
3,921
Votes |
6,088
Posts
Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
Replied

It costs 10% to sell a property.

IF you got $115K - 12K to sell - 93K owed - repairs = THIN DEAL.

I would get a highly successful realtor to look at the project to maximize sales price and minimize marketing time.

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