Property under market value minimum repair costs. Determine exit.
Recently I sent out a mailer campaign to my probate list. I just recently received a lead from a seller who is willing to sell me the asset under market value. I will be visiting the property and presenting a contract once I view the property and determine its condition. My exit strategy play is to whole sale this property. However based on the photos I have seen, there are minimal repairs necessary for the property, and as result I do not know if my end buyer will be able to use hard money financing for the project. The target end buyer for the whole sale would be a land lord or a first time home buyer, but then i'd basically be putting this property under contract and re posting it on the market as a FSBO. Is this a good option, good deal? The comps in the area are strong and support the purchase of the property if I can negotiate the price down a little more than where I have it currently. And rental comps are strong as well.