Looking to buy off market houses

Looking to buy off market houses

Norman, OK · Member since 2017 · 1 post · 0 votes

To give a little background I am a 22 year old recent college graduate with phenomenal credit but not enough income to buy these two specific houses I am going after. I have recently come across multiple investors who have informed me of getting a house under contract, then selling that contract to investors who then buy/fix and sell/hold the home. Thus I am not the one going through getting and securing a loan/buying them home. 

What I am wanting advice on is in my neighborhood there are two vacant homes, one in which the owner lives at her new spouses house and the other the family wanted to move to a new school district. So both homeowners are paying two mortgages,faces,utilities etc. I have already been told by one of the owners that she wants to sell. (Neither home is on the market currently) What I am asking is how do I approach the owners? and what should my first questions be? I am strictly trying to get the house under contract for a certain price and then sell the contract to get some money/experience under my belt. 

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  • Rental Property Investor · Tulsa, OK · Member since 2017 · 41 posts · 34 votes
    8y

    Clayton, welcome to BP. The questions I would ask are:

    1. Are you considering selling? If I may ask, why?

    2. What do you think your home is worth?

    2a. Is that price in the homes current condition or fixed up?

    3. How much do you owe on the property?

    There are lots of other questions you could ask, but all will be a waste of time if you don't get a positive response from these first three. If you get a positive response, forget about the house and focus on solving their problem - whatever that might be. Good luck. 

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