Have A Deal, Need Advice
Just met with a seller yesterday who needs to sell fast due to divorce, bankrupcy, and being behind on payments. So he just wants to pay the thing off and have a little money in his pocket within a few weeks.
Stats:
Owes $142 + $10-15K in arears
Needs $15-25K in repairs
Worth about $265K in good condition
Home is in a good neghborhood close to everthing
I do not have to time or money to take on a project like this so Im thinking my best bet is to wholesale it. What is the best way to do this?
Right now I have been contacting the "I Buy Houses" people on the web, and plan to contact a few local investors in town (BTW I live about a hour and a half away from where the home is located), any other suggestions?
Is there any other options here?
Thanks a lot
James
Hi swetbac. Have you kept up with the rule changes in Florida for recording agreements? For surplus funds? For preforeclosure purchases?
[addsig]
Thats what i was thinking, and I am in California BTW. I just need to see if the owner is alright with a sub-to deal. Thanks for the help so far.
James
Check out the Scott Rister course, it is available from the TCI Store.
Regards,
FrankieAIX
Look for one of those companies that move mobil homes and they will move the houses.