Help--My 1st Deal Opportunity

You first need to determine if she owes more on the house than it is worth. If so renting may be her best option. Go to craigslist and look to see what houses are renting for in her area, that will give you an idea of what you can get for rent. If she does not owe more than the house is worth you may be able to sell her home on a rent to own, to someone who wants to buy a home but needs time to get qualified for a mortgage. You also have to determine what her home is worth. That should get you started. Do you have Deans books? I would suggest reading them.

Thank you Cathy. Yes I read both of Deans books I am on information overload lol. She is a very motivated seller she even offered to do a loan assumption. I have a lot of information on the home I am just unsure on how to start/execute the process. Do I have her sign an agreement then decide which action to take or vice versa?

My goal is to make a $100K by the end of August!
Shonna A.

Good Morning every one , the story goes like this ,is it true that the banks don't allow a middle man in the transaction of a sale? ,i have a buyer that want me to find a house for here ,so i went to the bank to ask for an application and they ask me who i was so i told them that i was in investor i find and sell houses to other investors and clients so i explained Her and she told me that sounded fraudulent and that no bank will grant a loan to buy a house that has been owned for less that 2 years,i really hope that she is wrong I'm putting all my dreams and effort to make this work.
Please some body help me .

Do you have a buyer!!!!!

1. you need to know the value and what it will sell for

2. what is the payoff on mortgage?

3. how long has she owned the house?purchase price?beds/baths/sq ft?

4. what repairs needed?

5. what will it rent for?

6. does she have it listed with a realtor?

7. do YOU have a buyers list?if not, go to the next auction and get names of bidders looking for deals-call for rent signs,etc

8. once you have determined this is a deal by running the numbers, lock it up under contract-then immediately pitch it to your buyers, run ads, put fsbo in yard,etc

9. you could do IEE with owner or L/O or the mortgage assumption or even owner finance

you have plenty of options here, you'll just need to decide which one you want to go with

most important is knowing the values in the area and how much you can get the property for

keep us posted

No buyer yet. I am actively looking!

Thank you Mike.

$100 is a typo lol. My goal is to make my first $100K by the end of August.

Deciding which action to take is my problem. I do not know enough about either to make an informed decision on which option will work best for her and me.

I have the answers to most of the questions you are asking. However, I am not sure if this is the place to answer them.

May I send you a PM?

My goal is to make my first $100K by the end of August
Shonna A.

Look at above posts, in order for others to help some vital info on this deal is missing:
1. you need to know the value and what it will sell for

2. what is the payoff on mortgage?

3. how long has she owned the house?purchase price?beds/baths/sq ft?

4. what repairs needed?

5. what will it rent for?

6. does she have it listed with a realtor?

This is the info you need to get the deal rolling

Well now, $100k huh, thats quite a goal

Sure send me a PM...

OOOPPPS...sorry. oversight-got it now #2