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Updated about 8 years ago on . Most recent reply

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Jason Buswell
  • Ballston Lake, NY
0
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6
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Failed at first offer to potential seller of property

Jason Buswell
  • Ballston Lake, NY
Posted

So, I want to make money in real estate.  I did a bunch of research, BP, Youtube, talked to couple realtors, talked to an attorney (who thought I was crazy...), and found a property on Craigslist, made an offer, re negotiated and was still turned down.  She didn't think my offer of monthly payments to her in exchange for the property would be a good idea.  She has a mortgage, and 50% equity.  I explained her monthly costs associated with all expenses were likely creating negative cash flow and I was offering her a way to make money each month without having to be a landlord.  Any advice on how I could have approached this differently?  What is the best strategy for finding an agreement with someone who likely wants to sell, has a mortgage but significant equity, that would be a good move for me?

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