Posted by J. Monroe on January 24, 2000 at 11:00:25:
Thanks for you response, Chris. I want to buy the property at a discount since she is in a “distressed situation” and “flip” to an investor. And no, there’s no repair work to be done. I am looking to get financing from either a mortgage broker or private lender and pay cash - a Quick Close to get the discount. But she is not bulging on her equity ‘cus $6K will go to pay for roof work (she had done three yrs. ago)once she sells to someone else and 6 or 7% to the selling realtor as commission.
Really Chris, between you and me, it would seem like she would be more motivated given her situation. But she is holding on.
Please help! If I buy at too high a price - cash, it would be a lil’ more difficult to flip it and make any decent profit for my effort. Thanks again!