possible deal in the works - Posted by Patrick
Posted by Patrick on May 08, 2006 at 18:10:30:
Hi, everyone. I have been beating around the bush on calling anyone for some time now. My fiance finally made me call on some houses and believe it or not my first call is a motivated seller! This being my first possible deal Im nervous as heck on messing this up.
First off, this house is vacant and the outside is in horrible shape. The guy owes 60k and wants 20k in equity, so he will sell for 80k. I meet with him tommorow afternoon to check out the house. I believe comps are running 110k-140k in the area. Does this sound like a deal? I think I can get him down to 70k…maybe sell it for 75k?
Should I just take the deal at the lowest we can get him to go down to and see what investors will pay for it?
Im just looking for tips on what to do on our meeting. Things to say to make sure I have a contract when leaving etc… thanks in advance.