Posted by Jackie in Dallas on April 12, 1999 at 20:49:37:
If the owner says he’ll sell it to you for a few thousand - write up that contract FAST – before someone else finds it and gets to him.
Even if the property is in terrible condition, you should be able to sell it to a rehab investor for $10,000 to $15,000.
If you don’t have anyone to flip to - as soon as you get the property tied up with a contract, run an ad that says:
CHEAP - CASH
Of course, you’ll also want to turn the contract into a title company immediately so they can check the title and make sure there are no liens or judgements, especially back taxes against it.