Newbie REI; here asking for seriuos feed back from seasoned REI’s. I contacted a FSBO property asking 396K for an 3/2 rambler in Maryland, 2 car garage, now vacant; parents deceased, younger sibling of 4 taking charge on selling property. He has discussed with older siblings about property. They just want it sold and split the profit. He mentioned something about mutuals? He said that the kitchen may need upgrading. So I have a meeting with him tomorrow morning. Do I go in there and tell him to sign here and here? Or do I go over with him the different avenues of selling/ renting out property? Please advise asap. Thanks…the new kid… ;D
Howdy Eagle1:
What are your plans for the property/ Flip, wholesale, keep as rental? No need to go over renting the property with the seller. They want cash. They will not be interested in renting or lease option. You may discuss su2 if they have a loan against the property.
Do not know what mutuals are unless they want to invest in mutual funds?
I want to either wholesale or flip the property. I think that the property is free and clear if his parents are deceased and the siblings want to sell the property. As far as the mutuals went it was a agreement within the community that they lived in ; if their yard or bushes needed sprucing up they would have somebody in the neighborhood take care of that for them. They were an elderly couple.