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Updated about 7 years ago, 09/16/2017
Possible wholesale deal, advice greatly appreciated
Hey BP! Newbie here that has a possible first deal in the works! So my god-father has a friend who is looking to sell their home quick and is looking to get around $190k for it. He bought it in a new development and appreciation has been kind to him. Similar homes in the area are going for $210-245k. A friend of mine knows a guy who is looking to buy a home quick and his budget is up to $230k. We want to make a deal happen so that the seller gets what they are asking for, the buyer can stay under budget and get a great deal, and of course we be compensated for bringing it all together! We see it as a great opportunity to not only help our friends get what they need, but get our feet wet in RE.
My question is:
- If the buyer will be financing, is there a way to piece a deal together? I was told wholesaling might be the option but Im seeing that cash buyers may be ideal for that strategy.
We are open to any and all advice, ideas, and strategies. We are fortunate enough to be able to buy ourselves and do it that way but we would like to make it a quick smooth deal for all involved.
Thanks!