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August 18, 2022, 05:39:17 pm
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August 18, 2022, 05:39:17 pm
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Author Topic: 3rd contract ! Nice Rental or starter home ! Need buyers fast !  (Read 1650 times)

Offline debran

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  • Posts: 39
    • REI Property Team
Got my 3rd contract !
This one is a nice rental property, was renting with govt rental for 1 person $600/ mo but could get $750
Its solid and just needs updated.

I have it posted on craigslist and got a few responses just asking q's, but no solid buyers.
I want to move this one fast !

Please help me - I am trying to build a solid buyers list.
I only have about 3 - 4 so far.


Offline Randoskie

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  • Posts: 1282
Re: 3rd contract ! Nice Rental or starter home ! Need buyers fast !
« Reply #1 on: March 26, 2017, 05:01:23 pm »
I occasionally get houses on contract that I can't sell. Some sellers won't lower their price enough or I can't find the right buyer. But a bunch of times I was surprised at the house I had sold.
So now I just get them on contract and hope for the best and expect the worse.
I got a junk house now, seller owes 61K  You would never offer over 40, the ARV is 89K, bad area, needs updating, the chances of selling for a 5K profit is slim to none. But there is no risk, I can cancel contract any time during my 21 day inspection period.
My usual buyers wont want it, but with some extreme aggressive & creative marketing I might make pull it off.
 
Distressed Sale  Sellers just want out. Handyman Special
House has had some updating but will take some work to get ready for an end buyer.
It will take 66K to buy this house. ARV is about 90K and should rent for $800

Let's get out there and have some fun and make some Money....
Rando

 




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