All Forum Posts by: Matt Ellis

My exit strategy is to maybe to a wrap and then find a buyer to owner finance. I am not sure if I can do it. The ultimate goal is to resell it and make a lil profit

Hello Everyone I need help on how to structure a deal. This is a Motivated seller who I have contacted on CL. Right now his property is vacant and he has remodeled it. It was rented for $650 but he no longer wants to rent it out. He wants 57K but did mention he would do owner financing but he doesn't want to do it long term. I am not sure how to structure an offer on this to make a deal. He does have a mortgage on it but he said its about $30k. I am in Tx so I don't think a L/O would be a good idea. Its Comps at 53K.

Anyone?

I have an Owner that would like to sell his home. He does own it free and clear but owes less than 30K. It comps at 53K and he is asking 57K but is willing to go down to 50 and and also said he would owner finance but he didn't want to owner finance for 30 years. The house is a remodeled ( doesn't need any work) 2bedroom/1 bath. He has been renting it out but no longer wants to be a landlord and wants to sell.  I am thinking some kind of owner finance offer but I am not sure what to offer.  Someone mentioned to me a Land trust would work but I am not totally familiar with that. Can someone give me a lil guidance?

Wow...great post man. I have been at this since July of this year and I am trying hard to get myself out of learning mode. As much as I read online, listened to podcast, and watch video training online, you would think I know everything I need to know. But I keep thinking I NEED TO KNOW MORE!....its really holding me back!

I am in WF and I will ask around to see if I can get an answer for you

Hey @Rick H. . I am not Marketing to Retail owners. Some call from my postcard mailing. If they are listed, they will say something like, the listing is coming off soon and if there is anything I can do? I know they are not a good fit for wholesale, I just wondering if there is anything else that could be done. 

Thanks Ned. One in particular was actually appraised. But I understand what you are saying. 

That is where I send my direct mailers to as well. Alot of these owners used to have tenants but no longer want the property anymore. Even those that are not listed with   realtors still want close to what their properties were appraised for. 

I have a question on how to structure an offer or should I structure an offer. 

Sellers are calling from my postcard mailing but I am finding ALOT are not in distress but they want to sell . For instance...

I am talking to a seller who has a house for sale. The house is listed with a Realtor so it is move in Ready. It is appraised for $117,500k and is on the market for $115,000.  It is move in ready so obviously it is not ideal for wholesale. What would be a good way to try and get a deal on something like that? I run into quite a few sellers that want to but do not need to sell and I dont want to just throw those leads away.  They are either listed with a Realtor or They are not listed with a realtor and the owner wants to sell but it is a very nice house.