WHAT ARE MY OPTIONS

4 Replies

I want to do this deal with no money no credit!!  I have a lead with the following criteria and want to know all of my options:

The owner has a 3/2 property owned free and clear in Florida; Desperate to move out and find a better place

Facts
  • Living area 1268 sqft
  • Single Family
  • Built in 1968
  • Cooling: Central
Features
  • Cable Ready
  • Ceiling Fan
  • Flooring: New Carpet, New Tile, New Roof
  • Parking: Carport, 2 spaces
  • Vaulted Ceiling

ARV: 65,000

list price 54,900, but the seller is willing to negotiate

repairs: minimal

Taxes: 700/yr

What are the options to do this deal?

unless you can get the seller to finance, or you get a partner that has money and/or credit, it will be tough, those are your best options (in my opinion anyway)

I'm confused about what you want to do with this deal.  Are you looking to buy and hold? Flip it?  Could you negotiate the price down to the point where you could wholesale it?  

When you say "list price" - is it already listed with a realtor?

It is listed with a realtor for $54,900, but the owner has the option to pull the listing. Ideally, I would like to wholesale it, but will consider a lease option.

You could wholesale it quite easily.

You could buy it with Hard Money financing and fix and flip it.

You could get owner financing with a 6 month payoff and flip it.