Re: Thanks to all, who came to Saint Louis… - Posted by Lib Cassin
Posted by Lib Cassin on May 04, 2000 at 14:06:57:
What a think bigger Marathon ! Great work Ed and Terry.
Now that I have been to your workshop I feel like I have earned my white belt and can ask intelligent questions.
I thought instead of just calling you, it might be helpful for others to learn as you help me - what do you think?
Fabuluous workshop, by the way, Ed , you are one of the most learned men I have ever met and Terry has enough vision and wisdom to inspire all of us to move in to the next paradigm of our success.
So, heres the deal;
Originally there were five duplexes for sale here, deferred maintenance, new roofs etc
FMV 125,000, as is; fixed up $140 - 145,000
Rents; Under market 545 - 675 (Market 750)
Needs approx 12,000 - 15,000 each in work,
I offered 112,500, they came back at 116,000 and have already sold one while I was out of town for $120,000. I have preapproved financing in place for 90% LTV 9.79%, Ed I know you had mentioned that you can do 100% I sure would be open to any potential avenues to work with you especially if you can see a way for me to make this deal work
I though I could do lease options on them, but do not know how to structure an ad or the offer and never having done a lease option am not sure if it would pencil out
Can anyone comment, or offer advice
I need to get back to them by tomorrow
Thanks a lot