All Forum Posts by: BJ Henderson

I have a seller that's willing to work with me however way possible. I'm looking for some ideas of how to structure this deal...

It's listed as a 4 bed 2.5 bath, but it is really a 4 bed 3.5 bath. It's just not recored with the county. The attic was finished at some point. It's 3000sq ft.

ARV - $415-430k.

Repairs - 40k.

Mortgage Payment - $1500.

He owes 270k on it and can't sell retail due to the repairs needed. The area is highly desired so a good flip would be needed.

I'm not able to offer a wholesale price. And not really sure if a lease option is the best way to go.

I know I can make this deal work due to his flexibility, but would like to hear some opinions.

Thanks.

@Sean Walton Yes my problem is finding a Realtor willing to do it. All of the ones I talked to said I had to buy the property first. Thanks for the info.

Do you have to own a property to wholetail it or can you just get it under contract and have a realtor put it on the market?

I've got one that's in pretty good condition and can be sold on the retail market. It just came out of pre foreclosure and the current owner is just looking to make a quick profit on it.

Just trying to figure out how to do it. There isn't much information that I could find on it. Or at least the answer I'm looking for.

@Michael Burke give me a call when you can. (919) 302-9672.

Spacious modular home built in 2000. It is a single family home with 3 bedrooms, 2 bathrooms, and 1,792 sqft of living space. It sits on 0.7 acres of land.

Needs less than 10k in repairs. Mainly the roof and cosmetic on the inside.

Can be a flip or also a rental.

ARV- 100-105k.

https://www.dropbox.com/s/jdhyran7kuz3t5f/20170413...

https://www.dropbox.com/s/ddwd0oigju7j21j/20170413...

https://www.dropbox.com/s/pj63c147ztnvqcv/20170413...

https://www.dropbox.com/s/7n4qtoflwnxt6kn/20170413...

https://www.dropbox.com/s/v2vxeb33b80fsms/20170413...

If interested please contact me with a name and number. 

Thanks

BJ Henderson

Olive House Investments LLC

(919) 302-9672

Thanks @Brian Gibbons. You gave me enough information to get started in the right direction. That's really what I was looking for.

@Dave Melton that was the plan, but didn't really know how to set it up. While I tried to do that the seller was not interested, but thanks for the insight.

I have a seller looking to sell is properly quickly due to living out of state. Currently it isn't occupied. 

He has chose not to sell on the retail market because the neighborhood is upscale and the property isn't in the condition it needs to be to sell retail.

Initially I wanted to wholesale the property, but after running the numbers compared to what he owes it just doesn't work. 

ARV- $440k

Owes- $350k

Repairs- 30k

Mortgage- $1500

My question is if the seller is interested in doing a lease option what are some ways I could structure this deal to make it work.

I've never done a lease option so any tips/advice would be greatly appreciated.

Thanks

Huge potential in this property. Needs some TLC. 

Approx. 25k in repairs needed.

After Repair Value- $87,900

Asking $30,500

Thanks Chris... I got the information I needed. I will definitely contact you if I get something else in your area.

Awesome post!

Glad you didn't give up and kept on pushing forward.

You are much more knowledgeable and equipped to handle more flips in the future.

Thanks!