Properties in decent area owned outright
I have a lead on a seller who has 4 homes in decent areas. They are rented conservatively but he is asking retail. I explained that his asking prices were simply unrealistic and that in order to purchase them he would need to come down on price.
I then told him I would take a discounted rate with seller financing.
Or that I would give him a price even lower then that as an all cash price.
He is open to the seller financing.
My thought process is: Get him down to 75% of ARV on seller financing. As the leases come up liquidate the properties at FMV. Potentially keep one of them owned free and clear by moving 3 of them.
Thoughts?