There is a vacant house. That is in need of some TLC and
possible upgrades to the interior. I spoke to the owner.
but she does not appear to be motivated. She say,s she
can afford the mtg. I would guess that it may need 10K -
15K in Fixup. Houses in the neigborhood sell for 250K - 275K ARV. How would one of you exp. investors Deal
with an owner like this? or should i move on and wait to
see what thay decided to do? Thank,s for your replies.
You might consider renting the property from her using a lease option. If you need to, make it a sweet deal for her and offer to pay enough to make the mortgage payment, maybe a small monthly profit. After you do the fix up you can sell the property, essentially a very little money down deal, and you never tie up your credit. You keep any money the house sells for over the agreed upon selling price in the lease option.
Okay. You’ve found a vacant house in need of repairs and you’ve spoken with an apparently unmotivated seller. What to do?
First, is the property actually listed for sale?
Second, if so, what is the price?
Third, why do you think that she is unmotivated?
If we don’t know the answers to these questions, anyone posting an answer is just taking a shot in the dark at best.
I don’t know if there is a potential deal here or not. However, I do see a problem in your method. You are looking for houses to get deals. There are no deals in looking for houses. What you need to be looking for is sellers. Sellers that need to sell are where you are going to find deals.
If it turns out that this seller really is unmotivated, then the answer is simple. You move on. There is no deal.