I Have A Deal What's Next?

4 Replies

Hey Everyone, 

I have this motivated seller who is looking to get rid of the property in less then 30 days. She is asking for 175k, the house needs about 20k in repairs and the comps I got from Zillow based off similar sold homes are between 300k-325k. So that would be 195k(purchase/repairs), closing cost of 20k (approximately, I haven't learned how to calculate CC yet) brings it to 215k. To me those numbers present a good deal no?

The seller has agreed to let me wholesale the property to another buyer, but where can I get my hands on the proper legal purchase and assign contract giving me a time-fame to find a buyer?

Thanks BP

AJ

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@Amadii Owens Do you have a projected buyer? What about a buyers lost? Congrats by the way, but it will help with where this property is located.

@Nick Britton Thanks. No I don't have a potential buyer. Additionally I'm just starting out so I haven't built a buyers list yet. This deal happen to just fall in my lap. 

You should check out freedomsoft.com. It's an awesome real estate software that can basically do all the legal forms for you and gives you free advertising pages. I think it has a free trial. I pay for mine now because it is absolutely worth it. Check it out! Congrats and best wishes to you!

@Nichole Schroth Thanks, I will def check that software out. 

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