Posted by Bud Branstetter on May 03, 1999 at 12:05:14:
One offer could be to pay him 8K and take over his mortgage for a couple of years. Then sell on rent to own. You are also close to the 65% figure to do hard money if needed. Sounds like it is time to quick flogging the horse but to get on and ride it home.
L/O or Retail - Posted by Marlon (OH)
Posted by Marlon (OH) on May 03, 1999 at 08:47:48:
I’m going to make an offer on a house but I’m not
sure how to structure it. The house has been on the
market for about 5 months now. When it first went
on the market it was at 60k (7k below FMV). I
talked to the owner then and he has to sell because
they have another house out of state and don’t want
two payments. He also has a loan on it for 37k. I
offered 40k and he said no because he figured he
could sell it himself for more. Since then the
price has dropped to 45k. I want to make another
offer on the house. Should I go for a L/O or try to
get it for less? I want to try to do a retail flip
on this one.
Thanks in advance.