Consulting, I came through my wholesaler to a single property owner with a motivation to sell. The landlady is…
Consult? I came through my wholesaler to a single property owner with a motivation to sell. The landlady is a lady of advanced age. She has no knowledge and power to run it. The property has been empty for two years. There is a mortgage on the property for another 33 years. Monthly mortgage cost - $ 490 Mortgage balance 58 thousand Renovation 40-35 thousand 120 thousand ARV What do you offer? How to approach it? What should you pay attention to? Thank you very much and have a good week,
What do you want to do with the house? It's not telling Flip
The price of the property is actually the balance of the mortgage (58k) .There is not much bargaining. The property owner has no money to complete the mortgage closing.
What is the price of the property? Try to bargain and emphasize your strengths, i.e. QUICK CLOSING, ALL CASH, gently remind her that every month she doesn't sell, taxes, insurance and mortgage costs that have been empty for two years, it requires a massive renovation, etc., this is a good situation to press for a good price.