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Updated about 8 years ago,

User Stats

83
Posts
9
Votes
Dave McEvoy
  • Wholesaler
  • Montgomery, NY
9
Votes |
83
Posts

Best way to acquire this property?

Dave McEvoy
  • Wholesaler
  • Montgomery, NY
Posted

I have a potential deal for a SFR, 3 BR 1.5 bath. 4 floors believe it or not. Potential seller is an absentee owner that contacted me from a direct mail piece I sent and he is definitely motivated. ARV shows approx. $175-180k. Needs about $45k rehab or so. Let's assume the seller won't take my cash offer of an MAO of $70k to wholesale. Any other options? I'm looking into seller financing or lease options but haven't done one before and don't want to dive head first without knowing what I'm doing. Rent in area is about $1600 month; and not entirely sure if there is an existing mortgage or not. Just looking to expand my thinking so I don't leave a potential deal on the table. Thanks for any advice! Happy holidays!

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