I need your advice. I have a motivated seller who has a house that he wants to get rid of in California because he lives in Vegas. I have gotten him down to 140K, comps in the area are 150 to 160k. I need to know what can I do with this lead as this is my first lead and I want to make it into a deal. What are my options, if there are any? Thank you guys
Are the 150-160K comps after repair value? If so, practically zero upside there. What type of options are you looking for? How to talk the seller down further or what to do with it at this price?
@mirinda. I need to know what can I do with those numbers like what are my options? And if no options how can I motivate the seller to go further down?
Are you trying to buy it? Represent the seller on the sale? Wholesale it?
If you want to buy for a buy and hold strategy we will need more info to determine what the cap rate etc will be to see if it is worth while.
There is not enough equity at the current price for a flip or a wholesale unless to plan to wholesale to an owner occupant that loves the property and is willing to pay TOP dollar for it. No investor will touch those numbers after a wholesale profit is calculated IMHO.
if you are an agent your best bet is to just help them list it and find a buyer willing to pay retail value/fmv for the property.
If you give us more info we can better assist you.
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