2 properties on one lot in Santa Ana, CA

[Account Closed]

I have an owner that has two 2/1 SFRs owned free and clear that he is "considering selling". This is in Santa Ana, California. In our first conversation, he said he would take $450K for both if we could close fast. The comps are $350K each. My concern is that he doesn't HAVE to sell but just is looking for some "fast cash". I plan on digging a bit more tomorrow when we have our second call. He only paid $56k for them back in the early 90s. I already had the title checked and he is the only owner. Any suggestions from the BP fam out there?

[Aaron Mazzrillo]

Originally posted by @Account Closed:

I am putting together a nice PDF report on comps in his area in the hopes that he will want to work together when he IS MOTIVATED. I always want to provide value and this gentleman was very appreciative. This is a relationship business and I look forward to assisting him in any way I can. I look at the experience as just that, experience. It will enable me to help the next person that is in dire need of my services. I love real estate and helping people solve financial challenges!

 While that is nice of you and all, I can assure you, without a doubt, you are wasting your time, but don't let me talk you out of it. Lots of old, crusty landlords in California love to get young buyers on the phone, chat them em up, persuade them to come over their house and hang around sniffing their cat's pee, but in the end, they are not sellers. There is this one old coot up in Redlands who plays games with every investor I know. I don't even market to him any longer he's such a pain in the rear. I have a 92 year old woman I've been mailing for years. Every time she gets something from me, she calls and insists I make an offer. Her price goes up and down by hundreds of thousands of dollars every time I ask her what she wants. I'm not hoping to buy the property from her, because I know she isn't a seller. The house has been vacant for more than 6 years. I'm hoping my letter is sitting on her desk or kitchen table when her heirs clean out her place and one of them sells it to me. 

Your time is better spent focusing on someone with equity AND motivation, not providing a CMA report for some buy and hold till I die investor who will let it go to his estate so his kids can fight over it and end up hating each other. That's the way it goes sometimes. Next!