Hello,
Well I finally got my feet wet today and met up with a seller I saw on an ad. The house I looked at is in a nice area and comps shows that the market value is increasing which means that this property is able to pay for itself. This is a big plus! The house has been rented for 15 years and the owner and renters kept it in fair condition. However there are things I would like to fix up in order to have it sold in 90 days or less. The seller is very flexible on his price but wants to be cashed out on the property and move on. Later during the week we will meet again to discuss what we can do with terms and how to make this deal work. This is where I need some advice. Should I get a HML to finance the deal and build credit, since cash is valued commotity should I just start off by signing the contract to another investor? Thankyou All in advance
anybody?
Well if your planning on using HML or assigning your contract you will need to get this house under contract for 60-65cents on the dollar… If not, plan on buying conventionally and rehabbing and then flipping it…