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Updated almost 3 years ago on . Most recent reply

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31
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2
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Michael Cortez
2
Votes |
31
Posts

Need held structuring a deal

Michael Cortez
Posted

So I'm in talks with a sellers daughter for a home in Florida. They're open to selling but of course they want too much for the house. Home is worth $180K max based on recent comps. They had it listed at 250K FSBO then once I started talking to the daughter and showing her comps they said 225K then they said absolute lowest 180K but of course I can't buy it for what it's worth, the home I'm sure will need repairs. The dad is living in the property. I explained a potential sub to deal where I would take over the payments and make a monthly payment on top of that to the father. Daughter said not really interested in that. What else can I do to make a deal? She said the dad owes about 50K on the mortgage and monthly payment is about $450. Quick check on Rentometer I think I can get at least $1500 a month in rent.

Thanks for the help

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