Elusive 1st Deal 1000 Miles Away!?!?!
Hi guys,
So... I'm pretty new to RE Investing and finally found "the perfect deal..." only thing is, its in Indiana and I live in FL. I always thought my first deal would be something in my own backyard but that's out the window...
I have been searching the forums for answers but I think this situation is a little different that what I've found. My deal is as follows...
There's a woman I met at my day job that wants to sell her home to start her granddaughters college fund. The home is in Indiana. The price is very tempting, from what she says there are not many repairs the home needs and she's VERY motivated to sell.
I immediately thought to assign the home but in order for the numbers to work out I'd need her to drop the price. So here are my options (hopefully you guys can help out)
1. Assign the home - seller knows my commish - possible broken deal
2. Double close - double costs - less commish but successful deal
3. Refer IT - ask for referral fee - possibly not paid.
Please HELP.... I like the idea of referring it since I won't have anything to do with the paperwork (the scary part for my first deal).