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Updated almost 7 years ago on . Most recent reply

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26
Posts
0
Votes
Jamel Scott
  • Columbia, SC
0
Votes |
26
Posts

Is this a deal question?!!!

Jamel Scott
  • Columbia, SC
Posted

Deal or no deal Its a property in myrtle beach arv is around 145K they want 90k but negotiable it was flooded in the storm they completely gutted it and sprayed all thats left is to rebuild 2 beds 2 baths it's an A or B neighborhood gated community the seller says they want an honest offer but doesn't want to be robbed.

Most Popular Reply

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13
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10
Votes
Elizabeth Clyde
  • Investor
  • MIAMI, FL
10
Votes |
13
Posts
Elizabeth Clyde
  • Investor
  • MIAMI, FL
Replied

1. Is there a mortgage left on property? If so, how much?

2. They want 145, BUT what are the comps saying?

3. What are estimated repair cost and cost of damages?

Me personally, NO DEAL because unless they're truly ready to sell and ultimately take advantage of your help (investors are problem solvers that specialize in creating win-wins) then you could waste time at a profit margin that only seems like a win for seller and not another investor.

I like to keep the ball rolling. So I'd submit an offer and keep it pushing. Motivated sellers know you're there to help but also need the deal to make sense. Lots of fish in sea, stay focused and remember TIME IS MONEY.

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