First conversation with a seller and...

[Justin Fussell]

Ok, so here is the skinny, it took me a day and a half to work up the nerve to call back my seller. What a long and nerve racking day and a half that was. The conversation took was roughly 10 minutes long and when we said our goodbyes and I hung up the phone I said aloud "holy crap that went 1000 times better than I ever thought possible".  Truthfully, it did. I got roughly 90% of all the information I really needed to start analyzing the numbers to see if there's a deal to be had. More importantly, I could tell that Mr. Seller was comfortable talking with me and was very forthcoming about the property. Very motivated to sell, also. He lost his job in September and needs out ASAP.  Honestly, I don't know if there is a deal to be had here but the I got off my butt and did it. If nothing comes of this it was good practice for the next one. I should also mention that at the end of the call I found out he actually is doing owner financing through a realtor investor. So, that makes me think that maybe I should be talking with the realtor? or the owner? Details below for anyone interested and, as always, I would appreciate any of your thoughts.

Property

ARV $100,000 - This is best guess until I am able to dig a little further

Asking Price $82,000

He owes $72,000

Price at end of call $70,000 "give or take"

3/2/1 pier & beam 1612 sq ft w/ detached 2 car garage w/ plumbing in the back of the property, a 12 x 10 shop,  It sits on 2 and a half lots according to the seller. The property is also a corner lot located directly next to an intermediate school. The lots looks to have mature trees, too. 

Details

Kitchen- 12x12 tile flooring, tile back splash ,fairly new appliances that all stay. Dated cabinetry.

Bathrooms- Tile flooring, tiled showers, granite top single vanity sink

Flooring- Original hardwood flooring mostly still in good shape, possibly some leveling here and there.

Siding- Needs paint

Roof- Good shape

HVAC- Good shape

Overall the interior looks to be a little dated but an attempt has been made to update here and there.