All Forum Posts by: Michael Marchman

@Maugno M. Exactly what I offered. The deal fell through last night. I'm on to the next one! Thanks everyone.

@Carson Wilcox you're 100% right! I had to break that down to my wife because she was stuck on the notion of "why should we let him make money on something he did no work on" I basically responded with what you said and showed her the comps of what we could sell it for.

@Carson Wilcox exactly what I'm planning on doing. I'm going on Firday to see the inside so I can get an idea of what the rehab would cost and take it from there. Thanks for the advice.

I'm about to pull the trigger on my first flip but wanted some advice from the BP community to see if I'm missing something...

Home is in a great area, with comps ranging from $90k-135K.

• The home was purchased by an "investor" in September for $30k and is now for sale for $75k. According to the Realtor, the investor bought the home to flip, but didn't have the time and did nothing to the home. 
• The text I got from the Realtor when I set up a time to see the inside of the home was, "it is awful inside".
• The outside of the home is in fairly decent shape with only minor work needed to be done (paint, mow the lawn etc..)
• The seller wants to do a cash deal because "a bank won't give a loan for this house".
• I'm going with an inspector on Friday to walk through and make an offer.

Am I wrong in thinking of offering a cash price near what the buyer just paid for the house a few weeks ago? The sellers agent has made statements to me indicating the seller wants a fast deal. For example, "He just wants to get rid of it"; "He is open to offers" etc...

*(All quotes are from the sellers Realtor)

What’s the beat way to see if a homeowner would be willing to sell the home they have listed for rent? I thought I heard this strategy on one of the podcasts but can’t find which one? Thanks in advance!

@Corrie Allen welcome! I’m in the Augusta area, not too far from you.

@James Dainard What kind of financing did you use?

@Nathan Dehn smart move recommending the mother-in-law lol

@Alan E. & @Brandon L. 

Thank you guys for reaching out and the encouragement! Appreciate the help and tips.

@Joel C.I'll be there tomorrow!