Hey, everyone!
Here’s a possible lead on a 3/2. Seller is motivated and is willing to sell for the amount that’s owed. $450k for mortgage plus $5k for back taxes. Monthly mortgage payment is $3,700 which includes PITI. ARV is $455,220. It’s a nice home in a nice neighborhood. The last 3/2 to sell in the area sold for $562,000.
I’d like to get an assignment fee. If I’m unable to find a cash buyer, what kind of terms deal can I create with these numbers?
Any help is appreciated.
Please recall this post. I mean to post this under Sub2, Lease Options
Let’s see. He is willing to sell it for $455k and it is worth $455k.
Is there some reason that you feel that this is a great purchase? Did you make a typo?
How does the quality and location of the $562 comp compare to the house you are looking at? A comp isn’t any good unless the houses are nearly identical or you know how to make price adjustments for the difference.
I hope I don’t come off sounding rude, but the math doesn’t make sense. There has to be something left out or the house is made of pure gold. Maybe it is better to indeed move the post to the proper category so the math wizards can work this one over.
Personally, I have those kinds of deals if you want to do them where I live and I know how to get a fee. Again, not being rude but simply not uderstanding the numbers.