My first deal!!

My first deal!!

In another forum I posted "I think I found my diamond" I got an email from the owner accepting my offer today!! Here is the story in a nutshell, saw an ad on craigslist for a FSBO w/o a price on it. Called on it and discovered owner died and brother lives out of town and wants to sell to coverdeceased brothers credit card debt. The house is a wreck, the only thing that doesn't need replacing is the furnace and the water heater. The deceased credit card debt is 22k. FMV for house is 80-110k I offer 25k and he accepted. Just waiting for signed PA to come over fax. Once I get signed PA. Will have inspection done,(it will be worth the money on this one) and may try and flip to another investor for a quick 10-15k. There is enough room in dollars for each of us to make money. If no takers, will rehab and rent. The only thing I'm worried about is the title, I think it's still in deceased brothers name.

Cathy

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Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


rsaldana

I made an official offer, my real estate agent wrote it up as a favor eventhough he wasn't making any money on the deal.

Cathy

__________________

Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


FSBO

I am new to the DG Family, but I am curis as to what FSBO stands for!
Where can I go on DG site in order to get more info on this matter.

Thanx!


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