Re: I need to run this possible deal by the board - Posted by Laure
Posted by Laure on March 18, 1999 at 03:57:16:
I would do the deal. Then, find a qualified buyer who can purchase retail with bank funding. This isn’t always easy though. I am finding tons of people with “glitches” that can’t get funded without a year seasoning. The upside of waiting is that you get a higher price for your property. Absolutely NO ONE is dickering on price when they can’t get traditional funding. The price is totally mine to set! I expected people to make me “offers” etc., but, in fact, they are saying, “If I give you 5k down, will you contract it for a year? and what are my payments?” Buyers are concerned with PAYMENTS … not price. If you can get the appraisal on the house, sell it for 63,000 instead of 55,000. They will LOVE you for letting them into a home.
Get LeGrand’s tapes on private lenders, that will allow you to sell on contract or L/O the property for the year and still allow you to invest “your” money into another deal.
Also, I have found concerning my “feelings”… Ask yourself three questions: Am I hungry? Am I tired? ooops, can’t post the third one, a bit "off color"
But If I answer “yes” to any of these, then I tell myself my feelings are invalid tonight. Re think this tomorrow when I am not: Hungry, H… , or tired.
Good Luck !