Weird Phone Call...

[Alex Hart]

Hello Everybody,

Not sure where to post this, sorry if in wrong forum...

I recently started a topic (I Took Action) in the Starting Out forum about me putting up bandit signs. I have received 4 calls already 3 of them were tire kickers, but one call I received today caught me off guard. The message was from a woman wanting to buy a house, my bandit signs say " I BUY HOUSES" not houses for sale so I thought she could be a landlord or flipper. I called her and starting asking her questions from a buyers question sheet I had put together, she informs me that she has already found a property she wants to buy and wants my help to buy it...WHAT???

She tells me that the property is a FSBO and that they are getting a great deal on the property and wanted to know If I could help her and her husband buy it. She informs me that the property is worth $110K FMV but the people selling it need to sell in a hurry and are willing to let it go for $60K. They need time to get financing together and wanted to know If I or someone I know could buy the property and seller finance it to them for 18 - 24 mos until the get there financing in order to cash out the investor.

I told her that private money is cost more $$$ than bank $$$ and she seemed to understand that, so I said that I wouldn't make her any promises but I would ask around and see if this is possible and I would call her back either way if I could or could not help her.

Has anyone ever had such a call??

Can Anyone do this????

If so I'm in the local area of the house so any info you would need I would be able to get you the info.

Do you guys think I should leave this alone because I'm no loan broker, or get info from the people that are selling the property and see what there story is...I need advice.

Thanks,

Alex

[Ralph S.]

Alex
Protect yourself. Sounds like you won't be a pricipal in this transaction and are expecting compensation. Make sure you don't provide "services" that require licensing in OH. Also, keep in mind your personal liability if things go whacko and someone ends up unhappy.