Skip to content
Buying & Selling Real Estate

User Stats

57
Posts
5
Votes
Ryan Ilardi
  • Real Estate Broker
  • Knoxville, TN
5
Votes |
57
Posts

Not sure what to do, need some advice

Ryan Ilardi
  • Real Estate Broker
  • Knoxville, TN
Posted Jul 31 2014, 18:38

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.

Loading replies...