I don’t see a deal. If the houses are selling fast, then they won’t be motivated to deal with you. Now, if they want to move TODAY, then there might be some motivation. But if they are willing to wait through a couple of months, there is no deal here. If they Need to move right away, then go in with a L/O and they would need to take a discount on their asking price. I wouldn’t even concider it without more than 10% reduction in price. After all, a realtor makes 7%. And what will it rent for? What will your cash flow be?
Don’t ever forget… BUY LOW, SELL HIGH. You CAN’T make it up on the volume !
Find out if there is any motivation. You must have a Motivated Seller to make the equation work.
Give you an example: I ran across a vacant house a few weeks ago that will be worth 250k easy, It’s free and clear, but needs 30k worth of work if it needs a dime, and has been condemned by the city.
Called the owners they dont want to sell. I’m like wondering WHY NOT?
Talk to some neighbors yesterday they told me the owners come by every now and then … In their Rolls Royce.
Apparently these folks have enough money to fix the problem and I found there was an underlying reason they wouldnt sell … The house has a sentamental/religious value to them.
Bottom Line… Motivation to keep not sell.
Find Motivated Sellers and when your talking to them they will tell you how to buy there house.
