OfflineI met this seller. This is what he told me.
I only want someone who will lend me a loan for what I owe of $15,000. OR Put the title in the name of the investor.
What should I respond to him? Thank you for all your advice ahead of time!
__________________
This is my incentive for potential buyers and sellers!
What are the details of the house? What is he trying to gain?
Yes, more details needed please.
- Tom
Here is what you need to find out first:
1) The details of the house (i.e. #bedrooms, #bathrooms, does it have a basement, a garage, etc)?
2) What condition is it in? How much are the repair cost?
3) Are his mortgage payments up-to-date? His tax payments?
And, you need to run comps to be able to calculate what you believe the ARV to be.
Dean has a sheet that I use, "Real Estate Lead Sheet" that I fill out every time I talk to a potential seller. You can find it under the "Forms and Docs" link over on the left of this site. That will help you know what information you need to get.
Hope this helps,
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
I spoke to the gentleman in this was what he gave me:
What should I do? Thank you again!
4 bedrooms
garage
living room
kitchen
2 complete bathrooms
measures 1500 square feet
in a nice growing area
He said he went through foreclosure
He is willing to sell
House is valued at 120,000
Owes 80,000
Wants 15,000 to be current
This is my incentive for potential buyers and sellers!
http://www.hopedrugcard.com