The house is listed at 670,000 - but I know the owner - her husband passed recently
Here are the details of the house
Between Sac and SF
- 4/3 one bedroom downstairs
- lot is pretty big for our area at 8400.
- 2000 SQFT 2 story home
- built in 1995
- current owner bought it for 350,000 in 2002
- currently listed for 670,000
- on a court (very desirable neighborhood)
- 71 days on the market
- very low maintenance lot
- turn key
- listed 75 days (she dropped the price 10k at the beginning of the month)
I literally just got an LLC this week so starting to really start to look and I was chatting with a childhood friend on Facebook and she wants to move back to Dallas where her daughter lives (where I am originally from, I am now 5 miles from her current home)
Her husband passed away 2 years ago and kids are grown.
There is an agent listing the property. I'm trying to figure out a good option, and if I can figure out if renting the property would even make a profit. It's way out of the initial price I was thinking but being I know her personally and I know this location well but not the market as I'm new to all of the creative financing and real estate. I have 2 chapters left in Brandon's book Investing in Real Estate.
What would be a good way to approach this? A MLO? Thank you, sorry for my ignorance I didn't expect to a possible option to come up.