Posted by Jim IL on April 01, 1999 at 21:57:00:
Please read what you type BEFORE you press “post”.
It was very hard to read your post because there were no periods, or capital letters starting the sentences.
Now, on to your question:
Perhaps you should do more checking on the details of the property.
Will it rent for what they say, and are the needed repairs something you can afford to do and/or want to?
Also, if they want out of this place so bad, ask them to deed it to you.
They just may, depending on the motivation level.
Then, fix it up and Lease/option it, or just L/O it with no fix up.
Either way you can charge more than market rent and also a final sale price ABOVE what it is worth now.
You can probably get someone to L/O it from you with enough money down and a nice spread over the payments you have to make.
And if that isn;t a good plan, then LOW BALL em, and try to “flip” it wholesale.
Then when and IF these things do not work, just MOVE ON!! NEXT!!
Just my $.02