Posted by Chuck on August 10, 2003 at 24:41:08:
Take it subject to, give her no money and rent it or lease option it.
Divorced motivated seller called me - Posted by mattc670 - mi
Posted by mattc670 - mi on August 09, 2003 at 19:13:33:
Divorced motivated seller called me from my flyers.
SFH bought a few years ago for 144K. She owes 141K.
Just wants rid of it. She might even be willing to pay
some cash to get out of it. 4br home - built 1954
paid 144K 2 years ago
7% - 141K mortgage ? 1371/month PITI
I did comps on domainia.com - and her home would be
at the upper end in her neighborhood:
Apr 03 $131,900 NA/1/NA $61,197
Apr 03 $129,500 NA/1/NA $38,057
Hemingway Apr 03 $121,500 NA/1/NA $42,081
Columbia Mar 03 $140,000 NA/1/NA $44,950
Berwyn Nov 02 $30,000 NA/NA/NA $34,838
Columbia Nov 02 $91,269 NA/1/NA $61,197
Kinloch Nov 02 $114,000 NA/1/NA $34,517
W Davison Sep 02 $145,000 NA/1/NA $41,804
Glendale Sep 02 $137,000 NA/1/NA $46,764
I originally thought it could be lease option deal,
but I think the payment are kind of high for that.
Perhaps could be a flip to a retail buyer for say 2K
plus her cash - so maybe 3-4K flip, or if I could get
on L/O for say 1000/month?
Any thoughts?
Also - I have been finding motivated FSBO sellers with
no mortage. One with a renter in now, that wants to sell,
and two others that just would like to sell (one older
couple in a 300K home - no mortgage)
Any ideas on these? I continue my marketing!
Thanks,
matt