My name is Kevin and I am a new investor in the Phoenix market. I thought I wanted to get into real estate investing last summer but I didn't really have the burning desire as I do now.
I've heard some people say not to get an LLC and or website set up until you have done a deal but I'm one step ahead of the game by their standards. I have my main page as well as my squeeze page to build my buyers list.
A few hours ago I met with a seller but we were unable to come to a number that made sense for the both of us. His house was worth 255k and he wanted to get at least 210k out of it. The spread was so small so I figured a lease option would be a good way to create a win win for everybody but he wasn't having it. He wanted to cash out and leave the property behind as he is getting ready to move to Texas.
Any ideas on an exit strategy for this particular deal?
Anyways, I'm looking forward to learning as much as I can from the members on this forum and becoming a truly active investor in this market.
lease option from seller and assign for a 3 per cent fee
See a lawyer for paperwork
@Brian Gibbons I was actually reading some of your posts and watching some of your videos before I met with the seller. He was not open to the lease option as he wanted to take the cash from selling and pay off a friend and move to Texas.
if you were licensed you could list it for 240k
Try getting an assignable sale and purchase
With an ARV of $255k is there enough meat on the bone for me to assign it if I got it under contract at $210-215 with it still needing some work? I want to make this deal work as this is my first time negotiating with a motivated seller but if it doesn't make sense then there's always another deal around the corner.
You need a list of cash buyers FIRST
Know what they want
Get their criteria
Sell the deal to them
Investor Information Worksheet
Investors Name: ______________________________________________
Looking To Do:  Flipping Retails Lease Options Rentals
Areas Interested In: ______________________________________________________
Types Of Property Interested In:
 2 Bedroom Houses 3 Bedroom Houses Multi Units
 Frame OK Brick/Block Only Other: _____________
 Junkers OK Nicer Houses Only_____________________
Types Of Property Not Interested In: ________________________________________
Funds Available: Has Own Cash Has Hard Money Source
 No Financing Source Other ____________________
Amount Of Cash On-Hand To Invest:$ ___________________
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