Advice on Structuring a possible wholesale deal

Bird Dogs, Wholesaling
1

Hello all,
The particulars: Home + 58 acres of land (ranch) has not been lived in for 2 years.
AVR $610000. Owner said he might take $525000. owner stated that home might need $15000. in repair/updates (beautiful brick custom home) 3bd 2ba 2cr, Tubed fence all around property Built 1985, Garages, big workshop (2 Bays).
Any ideas on structuring this deal for wholsale?? :help

2

depending on the situation… why is he selling? is it really 15k in repairs? How did you come up with the ARV? why is it vacant? does it have mortgage? liens? inheritance? there could be potential for nice profit, but you need to give more info

3

Motivated seller. His dad and him built the home. he is an older gentleman.
I’m getting the numbers from his RE agent (Ebby Holiday). Hasn’t been lived in
for 2 years… He keeps calling and emailing me, because, this is the second agent
that can’t get the job done… It is a beautiful home and property. Got pics, but can’t show on here… What kind of contract can I write, to give to his agent, other than a purchase contract, that will give me the ability to farm it to my buyers)that will allow me to put it out to my buyers/wholesale buyers, that the RE agent won’t have
fit over, because I’m not an agent. (you know, I’m not suppose to be finding buyers)

4

See if he will be ok with informing his realtor that the home is currently listed with to include you on the clause. (its on every realtors contract) Make sure it states that if you sell the house they are not receiving a commission check. This gives you the right to have equatable interest in the home. Can’t quote the name of the clause at the moment.

Do you have a buyers list that is ready for this type of home. I would also see if I can make a bigger spread so that it will be that much more attractive to my buyers. :cool

5

I don’t have a problem with the agent getting a commision. She wants to know who my (buyers) agent is, I do not have one, and I do not want one… So, what sort of contract can I use (other than a full-out sales contract) can I use to tie up the property
so I can farm it to my buyers?? and other sites.

6

Get a buy option on the property for $1000 and then find a buyer. Double close.

Of course at 525000 you are only at 86% your target should be at 427000! If it has been unoccupied for 2years there could be a lot more trouble than $15000 worth of renovations.

7

i agree with ashon get that price down more :deal thats probably the main reason its not selling for a property thats been sittin for 2 years

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