Got my first response from my mailing which was sent 2-3 months ago. Unfortunately they waited till the last minute. Their house is up for sale in 2 weeks. They have filed bankruptcy twice, so I don’t think I can ask for extension from bank.
Since they have quite a bit of equity, they are asking close to ARV. I thought a lease option would be too late to put together, since the sale is in 2 weeks. As a new investor, I thought wholesaling the property would be the best thing. I was told it was a VA loan. Is there a difference or anything I should need to know.
I was going to offer ARV x 70% - repairs (although the house cosmetically seems fine) I have a signed authorization to release form, should I even try to short sale so I can offer seller more money? Is there time for this?
I appreciate any feedback. I was getting discourage for a while cuz I’ve been door knocking (which is harder than i thought), and sending out mailing but no response till now. Hopefully I don’t loose the deal from lack of knowledge.