Posted by Charles Steed on March 06, 2001 at 20:25:55:
You sell it for $20,000, it needs $15,000 in repairs, and the ARV is $45,000… Nothing left, or am I missing something? I don’t think you can expect a rehabber to try and get $53,500…
Seller Financing - Posted by Greg
Posted by Greg on March 06, 2001 at 13:38:08:
I have a seller with an abandoned property that he bought for 11k three years ago and just got started on it and got a good job with DOW. He owes 1,100 in back taxes, wants 2k for it.
I am getting it under contract this afternoon @ 4 for 100. My question is how to best max my profits.
I am thinking that I will market it to my investor list for 20K with seller financing, 8k dwn, balance 12k due in 3 months when repaired and resold.
Repair est 15k ARV is 45,house across the street just sold for 53.5k last week.
Sound right? Has anyone done this and what sort of objections should I expect from rehab investors?
Suggestions or comments will be appreciated
thx
Greg