Okay so a guy is listing for 165k and the area goes for around 230k,
He owes 80k, and just wants out of the house.
How would I go about structuring this deal??
Any Advice would help. Thank you!
If you're new, ask to partner with someone familiar with the Ohio area.. I'm assuming that's where the property is based on your profile info.. In Ohio, I'm pretty sure you'll find a lot of folks wanting that deal if the numbers are correct. Good luck, hope this helps.
GIVE HIM HIS $80K, AND BREAK HIM IN ON A PERCENTAGE OF THE PROFITS. IF YOU DID 50/50 THAT GETS HIM $75K IN PROFIT.
If he wants out and wants cash, see if he will carry the note for a short while and owner finance so you can flip it. Then pay him off out of the flip proceeds.
If he doesn't want to carry a note, look into wholesaling it and taking the arbitrage.
This is kind of like showing an artist an empty canvas and asking what to put on it. it really depends on what you want, what will work in your area/situation, and so many other variables.
@Alex Nelson thanks man helped alot
@Rodel Usam yeah ik right lol. But i appreciate it, this helped