Ok, so I am guilty of being one of those people that have attended seminars, purchased books, follow gurus…etc…scared to leap and honestly I think I took more risks before I was totally educated…the more educated I’ve become the more scared I am…which is weird!
Anyhow, back to the main point of this post…I’ve been using this marketing software to catch buyer leads &distressed seller leads…today in my inbox, I’ve received an message from a homeowner that she owes 100k on her loan, I pulled comps in her area which range from 149k to 154k, 3 homes sold on her street within the past 6 months. Home is in good condition, needs cosmetic work, but that’s about all. I’m thinking I can offer 130k, with at least being able to re-sell for 145k, 154k if I’m lucky. Home is in great neighborhood.
Now, what should I do…I feel like I should use hard money…I’m scared to do transactional funding, because more than likely the end buyer would need financing & it may take longer than it should to close. I see potential with this deal, but not sure which route to take…any suggestions? :