Updated about 11 years ago on . Most recent reply
DM lead. Need some help! Very interesting.
We sent out some leads and I just got a very interesting call. It was from a guy who now lives out of state. Property is in a good area 1700 sqft 3/1.5. It is listed with a realtor however he owns it free and clear. He has owned it since 2002. Had roof down 5 years ago and new vinyl done 3 years ago. Said it is on well water but city sewer. Line for water has been ran but not hooked up to the city. It needs kitchen redone as well as bathrroms touched up. Said multiple times on the phone that he simply does not want the property. Said he can drop the agent if we need. Told me to call his agent and tell him I'm a good friend. My thought is that this could be a really good property to use as a rental given the area. It could also be a good flip. He also told me it's listed for 120k but he is going to drop that down to 105k soon. What are your thoughts how should I proceed? My partner is out of the country till next Saturday so I was thinking meet up with the realtor and take some pictures this week. I do have a HML who will do repairs and purchase price with points rolled onto the back end. 1.25% a month and will hold it for 11 months. Could possibly use him to fix it up and then refi to an investment mortgage.