If it's worth 100K I'd think they would need to pay 100K and knock off 75K for the owner allowing them to stay, which would need to be agreed to before the property was purchased.

I've only been looking on the MLS, but even if I knock 20% off most of the "better deals", I'd be lucky to get a 5% cash return if I bought the properties without financing.

If I were doing it, I would see if the wall between the kitchen and living area is load bearing, and if it is not....then I would knock out the top half of that wall to open it up and create a breakfast bar there.

Now, after all these years, I see that just knocking it down and running like heck then going back and tossing a cup of gas on it then cleaning it up is all wrong. :)

All the 'room' in these deals come from the sellers - but now I see one, and I understand.Sure, they could keep it over the winter, heat it, fix the floors, get it inspected and re-do wiring and plumbing as needed, dredge the pond, knock the down the animal infested outbuildings, mow all fall and part of spring, check for snow dams and water damage all winter.

I'm considering buying a "home" that I would be totally knocking down to build my next house.

Knock off all the expenses you will have while holding the property: Taxes, maintenance, vacancy, management/overhead, & insurance: 40% is adequate.

sounds like a problem any wholesaler would love to have - no competition and a bunch of cash buyers. if that's how you got it, I would highly recommend getting with a RE attorney to write up some assignment contracts and go out and knock on doors and send out mailers to find sellers.

In 4 years of doing this, I don't know a single FSBO that's sold through an agent (if it wasn't listed on the MLS).In other words, if you try to sell FSBO, don't expect any agents to come calling or knocking on your door.

I pulled over, took the sign out of the ground and knocked on the guys door... here we are today, i have always been a believer that the early bird get the worm.