OfflineHello to my DG Family! Need some suggestions please. Located an ugly house. Called the realtor, to my surprise, the house sits on 8.5 acres with another house on the acreage. It was once farmland and is owned by a father and son. They had the land rezoned for townhomes and it will hold 102 of them. Oh, the asking price is 1.5 million and has been that since before the real estate market took a plunge.
I talked with the realtor and she indicated the family would take "a little less". I know I can either flip this to a builder or investor providing I can get it at the right price.
Any suggestions would be greatly appreciated!
Toni
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Hi Toni. Try to find out how motivated the father and son. Try asking questions like if the property still has mortgage in it, how long it's been in the market, do they need to move the property quickly, why are they selling the property.
You will find out how motivated they are and you can start a low blow offer if they are that motivated. But make sure you do your own research by running the numbers on the property, thru that you will have a play. Hope this help. Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
Hi Brian,
Thank you for your input. I'll ask these questions tomorrow and thank you for the encouragement!
Toni
Hi Toni,
So girl, you said you knew you could flip this to an investor or builder if the price was right.Do you know any investors or builders?How do you know the price is'nt already right?Maybe you should try to locate several buyers at the current price,and then get the sellers to lower their price which leaves you a bigger spread margin for profit and also the ability to tell your buyer that you negotiated a better deal for them if you choose, and split the difference.You may end up with a buyer who looks for a deal with you again in the future if he appreciates your abilities.Like they say Toni,build your buyers list then look for sellers,it's a big deal but it's still just a buyer,just not your normal buyer...G.L.to ya, Jeff
Jeff Minteer
i sent some information in a PM, can be helpful....
Let me know that help you out....
Life starts out by dreaming, when your born... Then taken action on those dream... The biggest dreamer on the plant are self-made millionaires and billionaires. Pick a millionaire or billionaire studie there moves take advice an put it to action.