@Darren Sager @John Horner
Hey guys, Sorry I didnt update this sooner have been extremely busy. Anyway, this story is ongoing but I made some progress.
So I got the house under contract for 72,500 - after exhausting my potential buyers from REI club friends, I BUY HOUSES ads and craigslist responses as well as meeting with a member from here - they told me the price was too high and that two families would typically go for 55 - 65k max in this area.
By chance I was meeting my realtor in Jersey City in a bar/restaurant where she happened to know the owner - and he does lots of buy and hold real estate.
I told him I had a house under contract in Newark for 75k and he was immediately interested. I Showed him the next day and he said he could make the repairs in a week with his crew and have this rented out very quickly.
I also was very up front with him and told him other buyers said that the price was too high, he didnt care because with 1k per unit rent each month the numbers worked.
I assigned the contract, he put 3k in escrow in his attys office last week and we close within 4 weeks.(he needs a few weeks to get his financing in order)
Could not believe that this worked and that Im going to make 2500 with basically a few days work. Learned so much from this. Will let you know when this closes. Im writing more mailings as we speak....