Posted by Kathleen Cory on February 07, 2002 at 17:03:21:
Hi. I appreciate the feedback. I am wrestling with ways to get my hands on more…faster. I have been working on expanding my funding base, and was wondering if anyone had tried anything like this with success. I agree that it is a long shot.
Has anyone had luck with this…? - Posted by Kathleen Cory
Posted by Kathleen Cory on February 05, 2002 at 20:40:01:
I am wondering if anyone has ever tried using the owners as partners. For instance, tell them you have buyers waiting, and will give their asking price, plus 15% (example) If they let the buyer pay them in payments? You could offer them half of the downpayment Half of everything… until it’s paid. Also have them agree to pay half of all necessary fix-up costs?
I know someone would make alot more money overall by buying low and selling high. But, wouldn’t this at least bring in extra cash flow without any up-front money needed?
Especially for cases when the seller absolutely won’t come down in the price? Wouldn’t an arrangment like this be better than walking away without any cash? Any thought are appreciated.
Re: Has anyone had luck with this…? - Posted by Marc
Posted by Marc on February 06, 2002 at 04:18:09:
Two points.
If a seller is not willing to come down on his price, he is unlikely to accept the idea of a creative alternative.
In many states, doing a deal like this may be viewed as payment of a finders fee for brokering a deal and illegal without a real estate license.
Re: Has anyone had luck with this…? - Posted by Chuck (AZ)
Posted by Chuck (AZ) on February 05, 2002 at 21:32:38:
Which do you think is smarter… selling me a Coke? or teaching me how to make my own?
What do you think I’d do with the knowledge?
I’m not saying your idea won’t work, it indeed might… if it’s handled right.
Re: Has anyone had luck with this…? - Posted by Kathleen Cory
Posted by Kathleen Cory on February 05, 2002 at 20:51:18:
Hi. It’s me again. I wanted to add something to the above post. I was thinking that this could be used with buyers who would be asking a low enough price for both of us to make a profit, NOT from someone who doesn’t budge from a higher top of the market price.
BUT someone who won’t come all the way down to my target price.