All Forum Posts by: Asher Carr

Hey everyone,

So i'm seeing the owner of a property that is priced at $1,045,000. He's willing to owner finance it but after going through comps with my RE agent partner, the house wouldn't get any action unless its in the high $870Ks to low $900Ks. The seller is already selling it at a loss as he bought it in 2009 for $1,120,000. The house is free and clear. There is about $50,000 in repairs that need to be done but he is including a $50,000 "gift certificate" to cover those repairs, which is pretty sweet.

I definately know I can make a profit fromt his home when I put a buyer in it, but how can I convince him to go down below $1M? Hes already retired and a monthly cash flow for him will work for him. I just dont know how to suggest lowering the price even more. Any advice?

They just want to get rid of it completely. They countered back and asked if I would just buy it for the $123K in one shot. I was thinking of upping the sub to  to $124K, which is ok. 

@michael lee. No repairs are needed. Does have potential for updates. This would be a buy and hold. I was looking to lease option it out.

Hey everyone,

I have a lead that is looking to sell their home for $126K. They told me that they have $123K mortgage on the home and know they won't make money on it. I presented a cash offer and 'subject to' and explained the 'sub to' to them.

They are not interested in sub to and asked if I wanted to buy the property for what they owned on it?

I was thinking of writing this one off and move on to my other leads but I wanted to make sure if there was anything else I could do. It's a simple solution to a distressed homeownwer, but it seems like there isnt another way unless they are willing to do 'sub to'. Any thoughts? Thanks. 

 @kyle johnson. I'd really appreciate ot that. Yes. Let us connect and talk more.

Anthony, thanks for the advice. Yes. I am also looking on Craigslist and FSBO as we speak. I always like to say "it's always a no unless you ask". Extra work is going to be put in a little for the search but I'm confident we can find something. Thanks again!

Hello,

Im looking for northern Rhode Island single family homes for sale for a client of mine. It needs to be as close of possible to the MA state line for easier travel to school in MA.

Offering an owner finance deal since that is the best way for my client to buy the home.

Home requirements:

3bd/2ba

Granite countertops in kitchen

Backyard space for children

Please let me know ASAP. Thank you.

Hi everyone,

I just joined BP and excited to get things going for my business. I've been operating for a few months now and getting better at making offers. However, I am in need of financing my deals and I am alone in this journey. I already have buyers waiting for me to fulfill their dream home but I don't know how to go about closing the deal without money. I operate in NJ and CT and soon PA. I would like to work with a private lender or lender in general that can help me, and educate me on how to get financing and do a deal right. Thanks in advance.

Hi Everyone,

I just joined Biggerpockets and I've been working on my business since January in NJ and CT. Had a slow start because of the demands of my job in the beginning of the year, but I was generating leads and getting a feel on how to run it. Now I'm more confident in how to analyze a deal and make offers. However, I'm struggling to get to the next step in funding the deal. I'm looking to create a portfolio of single-family rentals and I have buyers who are waiting for their home. How do I go about getting funding for a home? Which avenue is the best way to fund a deal for an owner finance, or rent-to-own type of deal? Thanks in advance.