All Forum Posts by: Bobby Holley

Hi Jacqueline. They probably have some. What were you thinking?

Thanks for the reply, Theo. Good return questions. Also, what would the sellers do while the repairs are going? They don't have enough liquidity to rent. I guess they could find a friend or relative who could take them in for awhile.

I'm preparing to invest in a SF home that is off market. The owner-whom I know personally-is 70 years old and has run into some difficult financial times. He and his wife are very eager to get their huge house sold and move into a smaller place but they don't have the funds or desire to sell it on the open market. Although I qualify for a portfolio loan at 80% LTV, I don't have the necessary downpayment to fund the purchase of the home. I know there are a number of options available, including hard money, but I had a seasoned real estate investor recently tell me to pitch the seller on contracting to do the necessary repairs on their home to prepare it for market, then sell the home outright without ever buying their home. Is this a legitimate strategy that anybody on BP has used before?

My name is Bobby Holley (remember Buddy Holly). My wife Sarah and I started BS Real Estate in Atlanta, GA with the intent of moving from wholesaling real estate to investing.  We decided to start now because we have a friend who needs to sell his house soon and we have an investor who has the cash but doesn't necessarily want to do the flipping.