Updated over 11 years ago on . Most recent reply
Not sure what to do, need some advice
I have gotten a call from a partially motivated seller. He says he doesn't need to move but says he does want to move out of town quickly. I have yet to do a deal in my young real estate investing career and need some advice.
I talked with him today and plan on seeing the house in person Saturday. It is a 3BR, 1 BA 1150 sq ft in Knoxville, TN. I drove by it, seems in good shape. Comp houses in the area are selling for around $80k-$85k. I asked him what he was looking for out of the house and he said $75k and he owes around 62k.
Biggest problem for me now is I don't have the ability to purchase the house on my own. I possibly have a partner but I'd like to get creative and do this myself.
Of course, I will know more when i meet him Saturday but I'm wondering how to approach him, what possible strategies to use. Thanks for your input in advance.