All Forum Posts by: Joe Threats

@Kevin Harrison Agreed, the seller and the property are in another city.  The couple planned on being in my city to bring the PSA and decided we should do dinner as well. I'm comfortable with the spread I currently have I'm basicially just trying to close my first deal! By any means...

Has anyone ever been invited to dinner to discuss a property with an motivated seller? Honestly the only thing left for us to do is sign the PSA. Should I try negotiating down more for a bigger spread or settle? 

Wish I could attend to network with you all I live in Texas with a property in Wilmington under contract. Sub 2

@Dustin Verley Thanks I'm going to have to structure a Sub 2 to someone out there is my plan.

@Eric Armstrong

Great its in Wilmington!

@Jake Larson I'm  houston area as well l will PM you.

Good Afternoon BP Family,

Allow me to start by saying I've become quite the sponge. Days and nights have been spent soaking up information on REI via forums and articles found on BP, youtube, various books and even a few online courses specifically tailored towards wholesaling over the course of 4 months.

Finally, the moment I've been waiting for.... I have found a motivated seller! Initially, she wanted to sell her property for 100k. The comps checked out at about 115-125k. I did not stop there, low and behold they owe 80k on the property.

Now this is where my mind has started spinning, and perhaps it's a result of information overlload... But, I began to think, structuring a "creative deal" may be ideal. Bear in mind, they are willing to sell at what's owed (80k).

My question then becomes which creative deal I can do (If any at all)? Also, the property is out of state (for both myself and the motivated seller). Would it be best to just assign to an investor in the Delaware area? Orrrrr should I try and do a sandwich lease option? What will be the best way to structure this deal?

Thank you in advance for any tips and suggestions you all give me!

Sincerely,

A very excited Newbie