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All Forum Posts by: Account Closed

Account Closed has started 9 posts and replied 20 times.

Post: Need some tips on buying a property that's not for sale.

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3
Originally posted by @Jeff Copeland:

It seems obvious that they are interested in selling. 

As far as terms or what to offer...Don't assume - Ask the seller what they need and figure out what their motivations are. 

Do they just want to pay off what they owe on the property, or are they looking to make a profit?

Do they want to close right away and cash out? Or do they want to close after the end of the year (or some other time) for tax purposes (or some other reason)? 

Do they want to keep the property and rent it (or lease-option) it to you for a year or two while they think about it?

There are dozens of ways to structure the deal - in conversation with the sellers*, you need to find out what best scratches their itch.

(*On that note, it would be useful if both decision makers are there so you can get both perspectives, and of course, charm them both).

Good luck!

 Thanks or taking the time to help me, Jeff. Your second line is most helpful.

Post: Need some tips on buying a property that's not for sale.

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3
Originally posted by @Lydia S.:

It sounds as if there is a chance they would consider selling, seeing as she was willing to let you see the property, so don't give up yet.  Can they afford this second mortgage or so they own outright? Are they actively trying to sell their first home?

Would they (and you) consider renting it for a few years or consider a land contract?

 Yes thanks, Lydia. I am nervous to ask these more personal questions. I don't want to come off too aggressive and nosey. But at the same time need these questions answered.

Post: Need some tips on buying a property that's not for sale.

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3
Originally posted by @Rich Baer:

@Account Closed

Continue to befriend her and find out what her and the Husband like. For example, if they like to travel offer to pay for a 2 week cruise. If they have a grandchild in college, offer to pay for a semester. You get the idea. Be creative.

 Thank you Rich, I hadn't considered this type of incentive.

Post: Need some tips on buying a property that's not for sale.

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

Hi everyone. This is a personal issue but figured I could get some advice.

My wife and I are looking for a farm property. We were going to look at one on Sunday and out of the corner of my eye just before we got to it I saw an overgrown driveway entrance that was simply beautiful.  After looking at the other property we drive back to the overgrown one and pulled into the long drive. IT WAS EXACTLY WHAT WE DREAMT OF FINDING! The grass was several feet tall and the house looked abandoned.  Well we looked up the address and saw it was on and off the market for the last 3 years. One website said it sold a year ago though. I found the current owners info on the county website and called. A very nice woman answered the phone and gave me the time of day thankfully. She said they bought it a year ago but the sale on their current house fell through (they are about 2 hours from the property). She said they want to be there but will entertain an offer. She has allowed us to go look at the property and is willing to meet us too. I'm thinking they are of the typical retiree age. So again she wants to be there and loves the property but seems to be at the point where selling it may be the only option eventually. We don't really want to wait on the hopes of that.

Does anyone have any tips on how to proceed? It was bought for about 70K under the original listing. It was nice and clean in the original listing but she said they bought it overgrown. It's a small horse farm and there is a good bit of work there outside now to get it looking like a home again. Also, the price they bought it for is the max of our budget.

I'm figuring I would save them realtor fees in case they need to sell. It probably wont be easy to sell down the road if they need to. SO here I am a buyer, ready to buy.

Any tips or thoughts on how to convince them to sell now to a young family that dreamt of finding this property? I will beg if needed.

Post: Help me come up with a business idea!

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

Very, very interesting.

Post: Help me come up with a business idea!

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

Thanks for the response and the time, Chris. I'm actually selling the lawn business as I am ready for something new with better margins. I am intrigued by the property sitting suggestion. So these "sitters" would be living in the vacant homes while you search for a new tenant. Unfurnished? Who pays utilities?

Post: Help me come up with a business idea!

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

What type of service could you use? What are some pain points in your business? How could I support your business?

Looking to start a real estate investment support business. Phone answering service? Virtual assistant business? 

Post: New Member located in Charlotte, NC

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

Hey Bob. Are you interested in Wholesaling? I am relocating to Charlotte within 6 months or so. I am looking to collaborate with someone down there.

Post: What are the pain points in your business?

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

What are some things that make your business difficult? How could it be easier? Just wondering if there are any opportunities to start a business that supports investors (ie. phone answering service strictly for investors, business that connects investors with on demand home inspectors/contractors for rehab estimates before purchasing, direct mail marketing, etc).

I'm just one of those people who enjoy this topic and I am selling my current business. Thanks.

Post: Looking for a Quasi-Parnter in NC/SC

Account ClosedPosted
  • Entrepreneur
  • Chesterfield, VA
  • Posts 25
  • Votes 3

Thanks for your reply. By quasi, I am meaning collaborate  as opposed to being an official on paper business partner.

Yes I have spent a bit of time there as all of my immediate family resides in the area. I know of a few meetups but these meetings have not been held during times I have been there.

My goal is to do what I can before getting there. To sit here in VA with a goal of growing a business in Charlotte and NOT doing anything I can to begin building it does not make sense to me.

Have a great day and again thanks for the time to reply.