Purchase price: $160,000 Sale price: $170,000 Contributors: Peter Vekselman Partner Driven and Jamari Sprueil secured this Dover Ct property in Riverdale, GA, for $160,000 and successfully sold it for $170,000 on the same day.

Is it better to have a willing seller and buyer before sending the initial purchase/sale agreement?

Buyers usually want to purchase on today’s value while sellers often want to use future potential of the property (“current rents are below market” or “room to build an additional property”, etc) to increase the purchase price or likelihood of a sale.

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.

Yes, our motel property is for sale.

Purchased as an asset sale in October 2019 as a buy/hold investment.

Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.

the claim that you fixed their credit or helped their credit just is hollow. once in foreclosure their credit is trashed.. going to sale does not hurt it any more or less..

Hi KyleThe way most real estate for sale is priced these days there’s little to no cash flow after debt service with 25% down - borrowing a down payment would put the investor in a negative monthly position. 

of course the sale of hurricane damaged houses also confuses the issue (my house had no such damage but is only about 4 blocks from houses that did).