Hopefully the mods won't move/remove this post, as I'm doing it for the benefit of BP! :D
Here's the deal:
If anyone is interested in doing a "Lonnie Deal" in Douglasville, GA, I have what is likely a very good lead and I'm happy to give it away -- IN EXCHANGE FOR THE RECIPIENT MAKING A $100 (OR MORE) DONATION TO BIGGERPOCKETS IF THEY BUY THE PROPERTY.
Some Info:
The home is one that my company purchased a couple years ago for $1100 (that was purchase price plus back-rent on lot) and resold with owner financing for $3500 ($500 down, $250/month for 13 months). We resold it at this price and these terms in just a couple hours on Craigslist (who knows how much more we could have gotten had we spent some time actually marketing it, but we just wanted to get rid of it quickly).
The buyer paid off the note a couple months ago (I actually sold the note to another BP member and the buyer paid off the new note holder), and the buyer is now looking to sell the home, as she needs to move out of the area.
I'm not doing Lonnie Deals anymore (it was just an experiment), so I'm not interested in buying it back, but I have a feeling she'll part with the home for $1500 or less (her asking price is $1500).
The Deal:
- The first person to respond to this thread gets first dibs, though please read the rest of this before you respond...
- You have to contact the owner of the home within the next 24 hours and be ready/willing/able to make an offer within the next 48 hours (only if you determine it's a good deal, of course);
- That means you have to actually view the property this weekend, or be willing to make an offer sight-unseen. Also, you have to have the cash available to follow through on an offer within 48 hours! Duh.
- You have to report back on this thread your progress on the deal (or at least if you purchased it or not) by the end of the weekend, so that I can offer it to someone else if you're not interested.
- If you consummate a deal, you agree to donate $100 (or more) to BiggerPockets...so factor that cost into your deal!
- Since I have no easy way to verify if you go through with the deal or not, I'll have to take your word for...but if you make good on your side of the deal, I'll be sure to keep you mind for future deals that I'm not interested in...
:D
