David Torres Matt Geerts hahah the peanut gallery... good one Dave &a thanks Matt! I'll be happy to share how it played out.
-I started by contacting REI groups in New Mexico and asking if they were interested in buying a property. Then after learning the property was in a nice area and it was desirable through evaluation of what the REI group told me, I ditched them since I knew they were only looking for a extremely low deal and headed to Craigslist.
-- Once I had the inside scoop on the property I went in the Craigslist in the area and contacted hundreds of people posting ads for rentals.... wholesaling...... investing... etc. Then I finally got one person to email me back and he offered me an extra 5k on the 80k I was asking for. He purchased the contract for 85k and I had my realtor that appraised the property for me in the area to handle the paperwork for me and turn the title over to the buyer.
--- The buyer got the property for 85k, I gave the seller 75k ( which is 5K more than what he expected as it was 70k in the contract ), I gave the realtor in the area who did the paperwork for me 2k, and I will be collecting the remaining 8k. The buyer is paying the taxes on the property for the whole process as well so I do not have to worry about that. Apparently he has some very good info on the property and he claims he can do repairs on it for around 5K and have it out on the market. I think he is a rental manager as well as a cash buyer so I have a feeling he is going to be converting it into a rental.
That's basically everything that went down!! Lots of phone calls, emails, and in depth research online but it was worth it!!! Also a big shoutout to my uncle who gave me great legal advice on how to file the paperwork correctly, and of course you guys in the BP community for giving me strategies, encouragement, and advice. Thanks!
