Posted by Natalie-VA on August 05, 2005 at 10:11:28:
What is he unable to finish? Is this new construction or a rehab?
Is he an experienced investor? If so, why can’t he finish? You want to know this.
Is he a newbie that just ran out of cash?
First you should figure out what the After Repaired Value is. Next figure out how much money it will cost to complete the work. Then post back for more advice.
How Would You Approach This?! - Posted by chocolateberriez
Posted by chocolateberriez on August 03, 2005 at 16:30:41:
Hello all newbie here, on her first adventure out.(yeeaahh!) I have an motivated seller owner with a property that he is unable to finish. It’s 2 units side by side, one larger then the other. So far most of the work has been completed, but there is still work to be done. He is asking almost half of what he can get on the open market completed. How do I approach this type of deal? Should I take it under contract and then market to an investor? If so what terms do I offer, to get him to accept? Do I market to contractors? If so, what terms do you approach them with. Also, should I get everything apprasied, and estimated before I make or market any offers to potential investors/buyers? Please help, I don’t want to to let this opportunity slip through my hands.