Any Opportunities For These Deals, 60%FMV?
Im mainly just a reader in these forums but I have stumbled across an opportunity that I would like to see if I can benefit from. I have aquired a contact at a "bank" who has partners that are buying blocks of houses at 40-50 cents on the dollar. They are upping the price by 10 cents and then selling at 60-70%. In this current market ( in SoCal) is there a way i can locate buyers/investors for these properties? Where would I start?? Any help would be appreciated, thanks.
60-70 on the dollar is pretty expensive for bulk REO.
You might look at the various auctions site as a disposal tool.
1) Option the property for 55k from the seller.
2) Have the seller and buyer enter into a purchase agreement for 80k.
3) Seller will buy out you option for 25k at closing and payoff will be on the HUD1.
No seasoning issues. Easy to explain to the seller.
Enjoy.
1) Option the property for 55k from the seller.
2) Have the seller and buyer enter into a purchase agreement for 80k.
3) Seller will buy out you option for 25k at closing and payoff will be on the HUD1.
No seasoning issues. Easy to explain to the seller.
Enjoy.