All Forum Posts by: Geoffrey F.

Good job on wanting to take charge of your business. But for me I have to suggest you find creative ways to stay busy and successful. For example how's your Social media presence, are you going to meet ups and/or other places to network with other investors (maybe they will send you properties to co-wholesale)  and give out business cards to ppl to let them know who you are and what you do. Going to places like public auctions to build your buyers list. No buyers no sales.

So many more...

@Mike

Your absolutely right. Money does talk these days. 

2/1 sfh $160k. Area sales 350-425k if made into a 3+/2+ home. I'll say that's a pretty good deal.

I would love to get this done 

Thanks,

Thanks Wes owner occ lending makes sense. I Should have thought of that. As far as being an actual agent - I can always use more knowledge - hey you never know. But until then these random internet posts from Bp has taught me a lot and made me a pretty penny. ***keep in mind. I do analyze and research all advice given from the random posts, as I just did yours. 

Thanks again, 

Thanks for everyone's tips.

1) @audrey - great advice on structuring. I didn't even think about what if they squat, Wish I could keep it, the spread is real nice. I'm willing to give that huge profit to a buyer and wholesale this deal. That's awesome to see your in my neck of the woods. I will reach out please feel free to do the same. 

@Chris - Thats a great idea that would work if seller had his moving arrangements lined up.

@Doug - Your right helping and solving the Seller's needs should be top priority. Will have to reach out to buyers who's willing to do the same. But good luck with the older guy, I hop that goes well, please keep us posted. Sure there's a story to tell.

@Wade - your the man. That sounds like my best move. Hmm guess I would have to structure that to my buyers as a part of the deal. Hope to find a buyer as savvy as your friends. Thanks again for the great advice.

**Any help as to structuring such a deal, where buyer is so noone gets burnt?

**Would this only work for Cash buyers? Therefore disqualifying Buyers using lending?

Geoff

BP family,

How's everyone doing? 

First off a little about myself. I been wholesaling off and on here in Charlotte NC for a few years now. You Bp folks has helped me to get by a lot of "deal struggles". Thank you. Since investing, My house buying criteria/niche has been mostly absentee owners. Great they don't live there. Fabulous. Which leads me to finally get to the reason of my post.

I have a Seller who reached out to me from a "white letter". Our price are in line and Seller is MOTIVATED, but has credit misfortunes and no where to move in 30-60 days to meet closing.

**To all my seasoned fellow bp family, that may have done deals like this in the past.

**Anyone have any helpful tips and/or suggestions on closing deals like this? 

Do you even bother helping Seller with relocation?

Help?

P.S - yes I did say he called from a white letter, works great for me. Take that as a gift from me lol

Thanks in advance!

Jeff

@jordan

"If the Realtor helps me find the buyer"

It depends on What you mean by help you? 

Will the Realtor just give you buyer leads? And you contact the buyer or will the Realtor be doing the actual talking to the potential buyer

@Jordan Jarvis If the Realtor is doing the legwork they can act as a Buyers agent thus get commission from they buyer. You get a finders fee from the company for bringing in the Realtor and Buyer. Guess you would have to trust their word.

Good Luck

@Ed L. - "Puppy farm" that's a good one. Lol

Well I agree that this all sounds a bit off. Now I must say seller (65 years old) sounds like him and his wife is trying to downsize from the 4 bedrooms and is willing to downsize into a 1-2 bedroom house or apt. And go from $1250/Mo plus utilities etc to maybe $800-$900/mo including $150 to pay for current mortgage (depending on being able to lease out for $1100). There are many apts going for $600-$650 that may can work. I did give my word that I will make sure to the best of my ability to put in a decent tenant. In hopes that they qualify for a mortgage in a year.

Other than that the tenant under the circumstances has to take that chance that the seller who has had the house since 1990 with good payment history even with the Refi's won't screw them over and vice versa. He asked for a way out and I only gave the options. Which seller agreed. 

Different strokes for different folks

But if you have any other options to help these good folks I'm all ears.

thanks @Michele Valenti

 that was very helpful.