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All Forum Posts by: Michael S.

Michael S. has started 10 posts and replied 52 times.

Post: First Deal: How to Proceed

Michael S.Posted
  • Rental Property Investor
  • Dayton, OH
  • Posts 54
  • Votes 12

My plan was to offer to list her home in Ohio (with my Realtor hat on) in hopes of getting an offer from a 3rd party and helping her out with that property. As far as the one in Missouri, it was listed with a Realtor at 120k for a while and did not sell, but I think I could move it to an end buyer (cash). Why not put it under contract for say, $85-90k and try to sell for 98k?

Alternatively, I could pursue the sub2, any Missouri wholesalers interested in working with me on this one? It's a great property which has very little in repair costs.

Post: First Deal: How to Proceed

Michael S.Posted
  • Rental Property Investor
  • Dayton, OH
  • Posts 54
  • Votes 12

This is my first wholesaling deal, lead came from a probate letter.

2 properties, one in Ohio and one in Missouri.

Estimated value of OH property: $35,000
Estimated value of MO property: $110,000

Owes $42,000 on OH property, $81,000 on MO property. Asking for $45,000 and $100,000.

I know I can't offer what she wants but I know she is willing to deal. Would you leave the OH property alone and deal only with the MO property? I have a few interested buyers at around 100k. Signs were put up in OHIO, I'm not from MO. Any advice appreciated! Thanks.