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Updated over 5 years ago on . Most recent reply

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Tone Mayfield
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Need help finding Cash Buyers

Tone Mayfield
Posted

Need help finding a cash buyer virtually. How do I know I found the right cash buyer and how much I should ask in escrow?

Property located in Milwaukee, WI 53221

Short sale deal I have a property under contract asking price is $105,000. ARV is 140k a single-family home 2 bed 1 bath potentially can build a third room, 15-20k at the least in repairs 1.037 sqft, detached 2 car garage. In a great middle-class neighborhood on a busy street.

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Marcus Auerbach
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
6,465
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Marcus Auerbach
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

Outch! That was a pointed comment John. However, I agree: not a deal from what you state. Most cash buyers are looking for a deal that meets the following: purchase price = (ARV x 0.75) minus repairs. Flippers pay a little less, buy&hold a little more. @Tone MayfieldYou took on a huge responsibility, by making that offer to someone who has no other choice and giving them hope based on your promise. Hope you can make it work - I can refer you to s very good short sale specialist if need be (you may not make any money, but it is probably the better option for the owner)

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