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Updated almost 7 years ago on . Most recent reply

User Stats

63
Posts
18
Votes
Johnathan Mark
  • Rental Property Investor
  • Houston, TX
18
Votes |
63
Posts

Needing Help On This Deal!

Johnathan Mark
  • Rental Property Investor
  • Houston, TX
Posted

Hey All. All pride aside here, I need help moving this deal and finding a buyer before my option window closes! Any suggestions will be gratefully accepted.

Here's the rundown:

  • 1456 sq ft SFH + Large Workshop on 3/4 acres in Soper Oklahoma (extremely small town with a population of 261)
  • Found sellers on Craigslist (very motivated to sell, husband found a new job in Dallas and is making a 2-hour commute daily)
  • ARV: $69k ($47/sq ft - based on sold comps)
  • Repairs: $27k (full cosmetic rehab + new roof)
  • Selling Price: $18k

I've put this property on Craigslist, Facebook, sent to around 6 wholesalers/buyers in the area with limited response. I'm based in Dallas and do not have many contacts at all in Oklahoma. My next step is to blast to my Texas list as I do have a pretty sizeable list here.

Anything I'm missing here? On paper, it seems like a deal in my eyes. A few buyers have told me they don't like the area or it's too far which is understandable. Is this one a lost cause?

Most Popular Reply

User Stats

63
Posts
18
Votes
Johnathan Mark
  • Rental Property Investor
  • Houston, TX
18
Votes |
63
Posts
Johnathan Mark
  • Rental Property Investor
  • Houston, TX
Replied

@John Thedford I appreciate your concern but every single homeowner I've worked with is briefed on my process during our first meeting and is kept informed until closing. If they do not see the value of working with me, we part ways. Transparency and honesty is something I live by. If I'm not able to close within my legally stated option window, I inform the homeowners as soon as I can so they'll be able to do business with someone else. 

I understand your frustrations as a licensed broker. But, the way you're going about this seems beneath you. No need to hurl insults and assumptions my way. Wish you well and blessings on your business!

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