Possibley my first deal...

Hey hows everyone doing?

Just got a call from a motivated seller looking to get rid of there house?

The seller wants to move because of health issues and wants to move within a month…

House is worth 275-300k on 3 acres of land

Said he would take 185k

says house is in pretty good condition … only cosmetic work needed

So i set up my first apointment for tommrow…( partner is coming to help)

Wish me luck!

Knock’em dead…

Good Luck, I noticed you said she called you. Did advertise? or contact her first? None the less sounds nice, break that land up into 3 1’s and call it a day…

Well… unfortanutley i just got word that the deal fell through… we had signed up the contract for 170,000 with owner financing of 85,000 due in 6 months- subject to partners approval,inspection,appraisal… but after our big guy went in to look at the house we came to realize that the house wasnt worth what we thought and there were too many repairs that needed to be done… It makes me a little depressed becuase we were so close to closing… but hey … what you going to do… ill just have to keep on advertising … NEXT

Be glad that you found out this wasn’t such a good deal BEFORE you bought the house instead of after, like most first-timers.

Like pwrbrk said, maybe the land is worth more split. Did you look into buying it and knocking down the house and breaking the land up and selling it off for new developement if its doable in your area. I know in my neck of the woods, people kill to buy a fixer upper on a double lot.