All Forum Posts by: Ken R.

@Curt Davis Thanks for your input. You're right, that price would have to come way down for it to make sense. Not sure if seller is motivated enough to do that. I wonder if I should make an offer anyway? @Brent Coombs Thanks for your input as well. No, I don't have a buyer lined up. I didn't see a big enough spread. I was thinking maybe a subject to or lease option could come into play in a deal like this but I'm still learning about creative REI terms.

Hey BP fam, I need a little input on this potential deal. I'll try to make it short & simple. If you need more details to give an honest opinion just let me know. FSBO-beautiful area Seller is asking 240k Comps are 260k Seller says repairs are minimal. Replace Fence After I inquired about a possible lease option Seller said he will take 100k subject to existing mortgage. Mortgage: 135-140k Seller is not extremely motivated but will move if BUYER IS READY. His son is going to college next year and they (his family) wants to move in order to be closer to him. For that reason I did not set appointment yet. The home and area is beautiful and the comps came from mls. I know this is definitely not an ideal wholesale deal but it appears to be a creative finance deal. Subject to or lease option. I don't know what average rent/lease comps are yet I don't know mortgage payment. I've been hearing that creative terms are a great way to do REI. Even when there is no equity. In this case there possibly 15k-20k equity already. I have not tried to negotiate yet. I just cold called a FSBO property and inquired about it. What is your thoughts? Pass or look into more? I hate to throw away good leads.

Greetings Carolyn Fleary I'm currently in the Oklahoma City area. Is there anything in particular you're looking for? Let me know how I may be able assist you in this market. Thanks!

@Paul Timmins My apology, I missed your question.  My other business in multi-media production. We produce commercials, graphic designs, websites, music videos, etc. 

@Alli Issa thanks for the info! @Jeffrey Vandagriff Thanks brother. I'm already subscribed to the podcast and I just set up some keywords. @Trevor Shettron Thanks, I'll be in touch shortly!  @Paul Timmins Thank you, I've been to a couple REIA meetings and I just joined meet up so I'll now be attending some of those as well. Thanks again everyone for the valuable info!

Hello BP family, 

Just wanted to take a sec and send some positives vibes. I'm an entrepreneur from the Oklahoma City area that has recently expanded into REI. I'm new to BP so of course I'm a little green but I'm looking to network with some more positive minds that don't mind sharing a few tips with a newbie. I'm currently expanding my buyers list and looking to wholesale a few properties until I eventually get into some more creative REI strategies. If you'd like to add an ambitious, positive, team player in your network from the Oklahoma City area, count me in. I believe we can all add value to each other in one way or another. Feel free to contact me anytime. Much success & blessings to you all.

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Ken