$959,500 down to $750,000 L/O opportunity - Posted by J. Ray

Posted by Scott Az on February 21, 2001 at 18:02:49:

I understand what your thinking, I was looking at optioning a 4.0 million home for 2.9, I finally decided I couldnt move it in that time frame so I had to let it go.
Those numbers really get your attention dont they?

$959,500 down to $750,000 L/O opportunity - Posted by J. Ray

Posted by J. Ray on February 20, 2001 at 22:40:43:

A couple of weeks ago I submitted a post called Million Dollar L/O (Specifics at bottom of this post). Owner has now dropped from $959,500 down to $750,000 ($209,500 discount) on a huge property with a 7,500sq ft house near Crawford TX, George Bush Country. Owner is fairly receptive to lease option/purchase and wants a call back weekly to see where he stands. The desparation is starting to be noticable in his voice and hopefully we’ll get the opportunity to Lease Option it soon.
Would any of you have any suggestions on how to market this property should I be fortunate enough to L/O this gem? Thanks in Advance. (House details below)

Joel Ray

7,500 sq ft (Yes, that’s seventy-five hundred sq ft) 4/4 brick home on 167 acres, 6 miles from Crawford, 6000SF LIVING QUARTERS, 16 FEET OPEN BREEZEWAY, 4 CAR GARAGE, PLAYROOM AND GAMEROOM, CONCRETE FOUNDATION, Built 1973, Asking $959,500 Flexible for Cash, MODERATE LEAKS, NEEDS NEW ROOF, (90 SQUARES) $4-5000 estimate to replace roof entirely.

Re: $959,500 down to $750,000 L/O opportunity - Posted by George

Posted by George on February 20, 2001 at 23:24:07:

First, before you do anything, my question is:

Are you confident you can move the property?
How is the demand?

I don’t think a L/O is the best idea, If I knew that I could sell the house very fast, I would option (not L/O) the house making an offer for $700,000 (depending on the market). I would ask for the right to show the property. I would give only a small option consideration ($100).

It is a tough deal, but you never know…