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Updated almost 13 years ago on . Most recent reply

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David Duval
  • Irvine, CA
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How would you structure this deal?

David Duval
  • Irvine, CA
Posted

Wanted to say thanks because I've learned a lot from reading this site the past few weeks and look forward to giving back in the future.

I just got a lead off a direct mailing campaign and the owner owns the property free and clear. ARV is about 225k and the seller thinks the property should sell in the 180k range. The property needs about 25k- 30k in work. The seller expressed interest in carrying back the financing and knows that I want to flip the property retail. He also expressed interest in taking some of the post flip profits in exchange for providing the financing.

If I were to buy with hard money or my own cash I would want to buy for around 130-140k but there is a chance that I could have no money in the deal with the seller carrying so I could pay a lot more.

What would you do and what's fair to the seller?

Thanks for your responses.

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Justin S.
  • Residential Real Estate Agent
  • Chandler, AZ
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Justin S.
  • Residential Real Estate Agent
  • Chandler, AZ
Replied

Your state contract is probably fine but I've never seen it, assuming its in CA.

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