My mother lives in a suburb in the Southwest suburbs of Chicago. Her landlord has expressed interest to sell. I was thinking maybe I could sell the lead to a local real estate investor (I understand this would be a bird dog thing which some might frown on).
This has the potential for a wholesale deal (i think, be gentle Im still reading real estate books) because the house is in disrepair, needs roof work, foundation work, windows aren't painted, house has water leakage issues, and a lot of other issues which we have intimate knowledge of since my mother has lived in the house for four years. The house is a 3 bedroom 2 bath, has a separate covered garage, paved driveway, average sized lot for the neighborhood.
How would i find an investor who would be interested in the house? Is this worth pursuing as selling the lead bird dog style? How would i secure payment from such an investor for the lead?
You should run the numbers on the property and see if the seller would be in selling the property at that price.
Then create a package and pitch it to local investors and if you have a good deal you'll be able to secure a buyer.
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