what is the best way to fund this deal

Question

A young lady I know father passed a few months back and left a 4bdrm, 3ba house that she wants to sell. It was put up for auction but she wants me to see if I can offer her more. The house is worth around $570K and it's also in excellent condition. I figured a good offer would be between $420K -$430K. How do I find an investor to help fund this deal? The  goal is for me to bring this deal to the table to an investor that can fund it and I get a percentage for finding the deal. Is the asking price fair? Am I going about this the right way? All advise is appreciated.

Danyale Martinez · Answer

What I found out is that you are correct.... It's her and the brother. Since the dad passed unexpectedly and didn't have a will the dad's assets will go to the children so that means that the children's name are NOT on the title and they've been in limbo for a few months on what to do with the property. The court told them that if they had an auction the funds would be split between the them two. Doing more digging into this deal I'm not sure it's a good fit for me due to all the legal issues. What's your thought?

Chris Davidson · Answer

@Danyale Martinez if the house is worth 570k why wouldn't the lady just sell the house on market vs making 150k less. If the house is really worth 570 as is finding an investor shouldn't be an issue, but getting it purchased may be.

You could either wholesale it by locking it up and adding an assignment fee, or partner up with an equity split on the exit with a capital partner.

Verify the numbers, and find out if their are more heirs or who is on title.