Posted by Matt on September 09, 2003 at 13:08:21:
Glad to help =o)
showing property when you don’t own it ? - Posted by CFisher
Posted by CFisher on September 07, 2003 at 19:45:05:
I discovered the site about 2 weeks ago and have spent hours reading the articles and postings. I have also ordered a couple of books that I am anxiously waiting to receive. The information and expertise found here is unparalleled.
I have found a property in a ski resort town that I can option for about $1000 for purchase next spring at $55,000. The property is worth closer to $75,000 as is - no improvements needed at all. The problem is that the owner is a fussy old lady who spends her winters in Florida. She has alway rented the place for the winter and this year is no exception (that’s why she wants to wait till the spring to transfer the property - she’s already collected the rent).
I would like to put the place under contract and either purchase it for my own use as a rental in the spring or sell it to someone else over the next 6 months for a quick flip. If I decide to flip, the problem is how do I show the place to perspective buyers in the meantime? The place will be occupied by renters for the next 6 months (mostly on the weekends) and I’m assuming it would be difficult to get them to allow me access. The owner would certainly not be happy to hear that I am flipping the property as it is her ‘pride and joy’.
Any suggestions from you seasoned experts out there? Any form of help would be appreciated. Thanks in advance
Chris
Re: showing property when you don’t own it ? - Posted by Matt
Posted by Matt on September 08, 2003 at 15:45:01:
Just an idea…You can tell the seller you will need a key to have an inspector through and to show the place to your “partner”. If you have a contract with her already, she may let you go ahead.
Or tell her your parents or spouse is really excited to see it. You might get a current property manager to get you the key with her consent.
Think a little. Be creative. Send flowers as a thank you and let her know you’re excited to purchase come spring. She’ll melt in your hand and probably let you use it a weekend in the winter too.
Good luck!
Re: showing property when you don’t own it ? - Posted by CFisher
Posted by CFisher on September 08, 2003 at 16:06:16:
Thanks for your reply Matt.
I will make note of your suggestions. I have a little time before I need to start showing the place and I may even decide just to keep it if I can get proper financing in place by spring.
I appreciate you helping a newbie out.
All the best
Chris