Posted by paul s on February 14, 2002 at 06:33:11:
Owner would like to live closer to where they live. They are interested in cashing out. This means that as far as they are concerned they’d like to see a conventional deal. They own the property outright.
How would you approach this deal? - Posted by Paul S
Posted by Paul S on February 09, 2002 at 14:40:22:
I have been made aware of a property on the market in a rural area (about 4 hours away from my home driving) that I am familiar with (the area, not the property itself). The property has a 1,600+ sq ft home on it built in '76 w/ 3bd/2bt. It also has a complete, modern horse barn about 350 - 400 ft from the home with 6 stalls, and at least two large sheds. It has a stocked pond as well, about 5 acres are wooded (mix hard/soft). The total land is 11.6 acres. The asking price is $140,000. I’m not going to say some of the things I have in mind- I’m interested in what all of you have to say. Any creative ideas out there? I’m interested in acquisition with no money out of my pocket and the generation of a positive cash-flow. Let’s hear it, gang:
Re: How would you approach this deal? - Posted by JamesL (Ohio)
Posted by JamesL (Ohio) on February 09, 2002 at 14:53:41:
No money down deals are structured by first identifying the needs of the seller. Did someone pass away? Do they own the property free and clear? Are they looking for cash? Do they not want the payment? Was there a divorce?
Just try to find out the real reasons they are selling.