Hi its been a while but I have been trying to get it going for myself. I have a deal that has a lot of equity (130k+) no fix up move in ready. Here is the problem. I want to lock the deal up but b/c of previous problems the owner wants me to put money down 5k non refundable. He has the propery listed FSBO with little exposure. Here's what I plan to do and please help me with your advice. I plan to give him 2K down (I know we try zero down but that's not going to work here) with 30 to 45 days to sale, offer him 5k more than his asking price, and he change his asking price on his FSBO page to what I want to sale it for. I will list it with my realtor , and all other realtors for more exposure. I already have a prospect buyer but only one. Next if I get no bites on that within about 20 days I will simply assign the contract to an investor with kind of equity move in ready it should be ok. NOW WHAT DO YOU THINK??? Any advice would be great.
Hi its been a while but I have been trying to get it going for myself. I have a deal that has a lot of equity (130k+) no fix up move in ready. Here is the problem. I want to lock the deal up but b/c of previous problems the owner wants me to put money down 5k non refundable. He has the propery listed FSBO with little exposure. Here's what I plan to do and please help me with your advice. I plan to give him 2K down (I know we try zero down but that's not going to work here) with 30 to 45 days to sale, offer him 5k more than his asking price, and he change his asking price on his FSBO page to what I want to sale it for. I will list it with my realtor , and all other realtors for more exposure. I already have a prospect buyer but only one. Next if I get no bites on that within about 20 days I will simply assign the contract to an investor with kind of equity move in ready it should be ok. NOW WHAT DO YOU THINK??? Any advice would be great.