Put another offer on a property today

[Scott K.]

http://www.zillow.com/homedetails/11340-Continental-Ave-Warren-MI-48089/83615790_zpid/

got an offer in on this house today. Have not heard back yet.

Needs floors and a new kitchen. Also will make a master suite bedroom. Paint all rooms like all rehabs need.

Details will come later if I get it.

But I will want to flip it but will always make a great rental if need be.

@Aaron Yates

[Bryan H.]

Originally posted by @J Scott:

Originally posted by @Scott K.:

WOW I am honored @J Scott . Just bought your books 10 mins ago.

In that case, I'm the one who's honored!!! :-)

One thing to keep in mind on properties like this -- if you're planning to sell for less than $50K, retail buyers are going to be very hard-pressed to find a lender who will lend (most conventional lenders won't lend under $50K).

So, you're either going to have to:

1. Sell to investors

2. Sell to retail cash buyers

3. Hold a note (lease option, lease purchase, seller financing, etc)

4. Find a lender who can do this and make your buyers use that lender

Good luck!

Somerset Lending Corp, [email protected], (248) 686-3542 - they do loans as low as $25k.