Posted by Joe(IN) on March 18, 1999 at 11:02:52:
Cesar:
Sorry it took me so long to get back to post. Thank you for your comments. I’m going to do as you said, after I find out their level of motivation I will offer $100K or less.
As for the distance. The house is in MI and I’m in IN about 30 minutes away just across the line.
If I can buy for $100 and sell for $130 I guess I’ll live with the drive.
Thanks
Joe.
Here’s a deal. - Posted by Joe(IN)
Posted by Joe(IN) on March 17, 1999 at 08:13:50:
A Lady called me yesterday. She and her husband are in divorce. Their mort. payment is two months behind. They owe $87000. I’m still working on the FMV because I’m not familiar with the area (Niles, MI), but I think it’s worth $120K to $125K. I’m thinking I would sell on a L/O with a price of $130K, if the comps work. She said on the phone she would settle for $110.
I’ve learned so many methods of doing this in the past six months (98% right here on CREOL), that I don’t know which way to do it. I want maximum profit out of this deal and safety is secondary. What would you do?
Thank You
Joe
Re: Here’s a deal. - Posted by Cesar
Posted by Cesar on March 17, 1999 at 21:35:47:
Let me get this straight…
They are going through a divorce, they are right now 2 months behind in their payments, and they only owe $87K on the property…
She said she would “settle” for $110K? I can almost guarantee you that she would “settle” for a lot less!
Make her an offer she can’t refuse, at say $100K (or less). How are you going to sell this property in MI if you live in IN? Kind of far, isn’t it?
It would have to be some serious profit to go out of state on a deal…