Possible Deal

Comments(7)

• 
  steve878814th April, 2004

  Quote:
  On 2004-04-14 22:22, voluminous wrote:
  Sorry for the earlier post. I have a possible deal. A woman in Chicago owns a property free and clear. She wants 80K. The comps in the area about 110K. I want the deal but I don't know what to tell her creatively that will get her what she wants and to get me my first deal.
  
  Somebody please throw me a bone.
  
  Voluminous :-?
  tell me about the property,what kind of use,is it leased,does the owner use it,ect...

• 
  voluminous14th April, 2004

  It's owner occupied. Single family, 2 bedroom, 1 bath. One car garage, full basement. User is still living in it. It's paid off. They have lived there for 20 years. The property is in great condition. They have really taken care of it.
  [addsig]

• 
  KyleGatton15th April, 2004

  Whats her motivation for selling. What does she plan to do with the 80K? The trick is to get her what she wants, then figure out a way for your and her goals to match. If she is looking to buy another house she may only need the down payment money, or you can find her a house and turn one deal into two. To help you out we need you to go into greater detail, tell us everything except the address and her name. We need to know all of the above posts questions, and also some background of what has transpired.
  
  Kyle

• 
  voluminous15th April, 2004

  Good morning!!
  
  She is looking to purchase another house. She is an older/retired woman. The monies from the first house would go toward the purchase of the 2nd house.

• 
  voluminous15th April, 2004

  I drove by the house,spoke with her. She said that she had other people come by to see her. No other deals on the table for her.
  
  That's about it at this point.

• 
  results_one22nd April, 2004

  What's your exit strategy? Are you planning to wholesale, lease option.......?[ Edited by results_one on Date 04/22/2004 ]

• 
  KyleGatton23rd April, 2004

  I would buy her other house for her. You could make monies on both transactions. Find her a foreclosure, or rehab and trade her equity, or outright. Make monies on the markup of the new house and negotiate the price of the older house.
  
  Good Luck,
  Kyle