Exit Strategy

[Anthony Washington]

I'm new to the board and investing period. I figure the most important step in investing is just taking action after you have educated yourself. I'm 24 now so I know if I keep at it, I'll be financially free by 30. Just a little info on me

But my question is I have been in contact w/a seller who has inherited a home from grandparents that appraises for 88k arv. I have negotiated down to 40k from their original 65k. I marketed the home at 55k on Craigslist and a homeowner contacted me asking for an owner finance deal. They said they could put 6k down and would pay up to 700 a month. How could I wholesale this deal or what else could be another exit strategy? Thanks in advance

[E. Jacobs]

If you're looking for quick cash and just to wholesale the deal, I would just keep looking for a cash investor to take it off your hands before you ever close. Assuming no or minimal repairs, the deal should make sense for someone with the cash to buy this property outright. You could also lower your assignment fee a little if you're having trouble pushing the house- 15K on a property worth 88K seems like you might be taking more of the cake than your end buyer who's the one taking all the risk. I'm not sure what your current buyers list looks like or if you have one at all, but if you don't have many then you might be able to build more interest in the property and better relationships by offering a better deal