Hello folks. I got a call from a seller(absentee owner) saying that she
recieved my post card,
(left message on voicemail) and that she was asking 165k for the property. She
also said that it had a tenant and didn’t need any repairs. I checked the
comps and a unit sold in aug for 138k. These are townhomes so the unit sold
was the same size…number of rooms…ect as hers. She also said that she has
owned the property for 20 years (equity…maybe). Should I even call her back and make her an offer? Does she sound motivated? I would like to wholesale. Any advise appreciated…Thanks.
She’s owned the property for 20 years, has equity, has it rented so she’s making money each month, and is asking $17,000 more than what comps say it’s worth (if your comps are correct)…
Um. No. That doesn’t sound motivated to me.
Thanks Jaradfromindia.
I agree that seller is not motivated at all. You may want to note for future reference when looking at tax records that in many cases if the seller refinances the home that it can show up looking like a sale.
Why not call her and make an offer. It can’t hurt to try. She may not care to be a landlord anymore and possibly consider your offer.