there’s a house that is going into foreclosure (according to the ad). after emailing this person it seems this is a realtor who is helping and associate and a first time investor. this house is not listed on the MLS so I’m not sure how the Realtor is comming into play unless he is doing a favor. does this seem like a shaddy ad? for a first time investor, why would this person want to pay out a realtor commision which would decrease his profits. your views on this please…
Howdy Ryanpal:
They may be partners and just trying to flip the property before it gets sold. There are other reasons the Realtor could be involved as you said too like a friend or family member or a mentor for the new investor.
any words of advice of how to approach this situation?
or just do the usual. run some comps, estimate repairs, then make an offer?
Howdy Ryanpal:
If I could read their mind I could tell you what to offer. Just like you said do the comps and get a repair estimate and work at it like that to see what you can afford to offer and make at least $10K net for your efforts and risk. LOL with it