OfflineI am looking at a 3bd 2 1/2 bath for 300k. ARV is 380k.
Repairs are about 60k. Owner has NO mortgage!
Offer options:
Offer lowball (like 210) with typical financing.
Offer full price with 60k back for repair cost.
Offer full price with owner financing at 0%. 50k down rest to be paid in full no later than dec 2010.
what do you think??
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Don't Wish the Past, Create the Future! - DH
Good thinking on the 3 options, too.
Is it the FSBO? Are you going to offer him to choose an option, or are you deciding which one to offer?
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
its not a fsbo it on msl. I was looking for input in the 3 options. Anyone feel one would be better than the other. Or dose anyone have any options to add?
thx
Don't Wish the Past, Create the Future! - DH
it's obvious that, your going to have to low ball him one way or another to make it work for you, cause i think that ARV is too close to ARV, in order for this property to work you need to acquire @ like $225,000 with typical financing, thats what i would offer, but thats my opinion too, SULLY.
YOUR HERO, SULLY
low ball it ad buy it out by conventional and be done with it. I also like the 50% offer but I dont think he will take it because he will feel like he can get all of it off the next buyer.
I would offer 220 and request no repair credit but attach the estimate for repairs to the offer to show reason behind offer and get it like that. That way ARV would give you a bigger profit and even if you resold it for a lower that fmv to another investor, getting it at 220 or there abouts would still leave you a pretty good net
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I was just tring to think of ways to incorporate "full price is your friend" and have it be a good deal for me as well.
Maybe I will just submit both...a low ball offer and a full price with seller finance offer...
see which one they like better
Don't Wish the Past, Create the Future! - DH
Then he'll feel like it's his choice. Mind game.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Good thinking on both offers at once. Let us know what happen.
Mindgames!! I like the way you think girl... LOL!
Elena ;D
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
both...a low ball offer and a full price with seller finance offer. I'll find out which one they choose if they choose one at all...
Don't Wish the Past, Create the Future! - DH
Let us know what happens. I feel like I'm watching a cliff hanger... LOL!
Elena ;D
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Keep us posted of what happen, thanks
Lloydsap
They rejected both. Some moron offered above asking price!
I left my asking price/seller finance offer on the table as a 1st place backup, just incase....
Don't Wish the Past, Create the Future! - DH
don't let it bother you D, they are plenty of other oppertunitys out there, SULLY.
YOUR HERO, SULLY
D, you may want to keep your eye on that one. If he's making a full price offer he MAY NOT realize what he's gotten himself into. He might end up becoming overwhelmed with the whole thing and turn tail half way into the remodel. Just a thought.
Roni
Rina
This is what I was going to say.... because I thought it was a FSBO. Remember that in an MLS property, the realtor has to get paid somehow. Where is that money coming from?
I left my asking price/seller finance offer on the table as a 1st place backup, just incase....
Next. Easy.
Don't let that one property get you down. Move on to the next one. The more properties you look at, the better you understand the market value and the comps. Good luck!
Lloydsap
I should have stated in my earlier posst to move on tothe next deal, but keep you eye on that one. It wouldn't make sence to wait on it, but if the current buyer does get overwhelmed and wants to turn around a resell, you may still be able to get a really good deal.
Roni
Ok you miss this one, I had several properties that were rejected, remember the investors are out there also, it seem like every time I saw a property I wanted to make an offer on, I took three to four week to get an answer, and sometimes no answer at all. I change realtors and I am getting results for the first time. Don't give up I was very disappointed and started to wait, until I started to read these postive responses. I have faith you will do it, keep going I don't care how many of them say no! a yes will come.
Gina
One more no, just brings you that much closer to a yes! Thanks everyone for all the great support you give to each one of us!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."