OfflineHi new here,I found an older fsbo fixer upper property [vacant for 9 months] on an acre of land asking 99k.surrounding this property are new 165k FMV homes none have for sale signs [2002's]with small yards.Seller is flexible.Is it a good idea to zone half the acre [if I can] and sell it? should i hire an inspector or appraiser to get $ figure? my objective is to see exactly what the property is worth with the land and after repairs so I can make offer and what would be the best way to approach this with no money? should i try seller finiance?assign? lease option? any input would be appreciated.
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You and I are in the same boat djmss. I'm new as well and found a pretty nice deal. I'm a little confused on what to do next. I spoke to a really nice RE agent that I talked to a few years back and we still get along great, so I'm ready to move to the next step. Mine is the same as yours djmss, FSBO and this guy has owner financing available. Should I ask him for a lease option, or.....reasign? All properties around the area are selling for the high 160's to 170s and they are asking 125 for it. I'm sure after I do a walkthrough and evaluation I could have about 50k - 60k in equity going here. I just called the guy and he was extremely nice and he was actually an investor himself. He said he was moving and thats why he was getting rid of the property. I asked if he was open to creative terms, like for a lease option with the ability to purchase after 2 years and he said "YES"!!! He told me to just drive by and look at the home, so that's what I'm going to do now. He said I can look at it as well, but there are people living in it for another 2 months. Right now however I would like to do a re-assign to an investor. If anyone is interested, pls let me know, I'm very fair and I want everyone to win in the end. Anyways, I've got to go look at this property. I'll check back later, can't wait to see if there's some feedback
Thanks in advance!