For sale by owner question?

8 Replies

There is a FSBO house that's caught my attention. I am new to real estate investing and learning a lot. What is the best way to tackle a FSBO deal? Should i ask the seller if they are willing to sell on terms. Meaning take over the title but not the loan? How can i get the income back without taking out a loan on these properties?

Pay cash, most sellers will not sell the home and keep the loan as that can put them in a risky position especially if the state you are in takes a while to get someone out of a house they have defaulted on.  There is no free lunch, you'll have the loan one way or another either through the bank or through the seller it really doesn't make much difference.

@Sierra Williams FSBO can be tricky, many times it seems they want top dollar for a property and don't want to pay a realtor commission. Are you sure they even have a loan on the property? If it has your attention it would be worth a few minutes of your time to give them a call and try to find out their situation to see if you're able to find a good solution for both of you. Best of luck!

FSBO is a shot in the dark. The few owners I've called inquiring about the property were smoking something strong. They always want ridiculous amounts of money for junk property, >$300K for something I'd offer $140-150K.

You'd think they have motivated to sell but in my experience it's always a let down. 

Thank you. Hopefully it won’t be a let down for me. They aren’t asking an outrageous price for the property and it’s already updated so keeping my fingers crossed. Originally posted by @Jaron Walling :

FSBO is a shot in the dark. The few owners I've called inquiring about the property were smoking something strong. They always want ridiculous amounts of money for junk property, >$300K for something I'd offer $140-150K.

You'd think they have motivated to sell but in my experience it's always a let down.