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QUESTION ⁉️ “Hey,
So I'm meeting with a seller on Tuesday to check out this home and I wanted to see what tips you might have or what you would recommend regarding making an offer.
The numbers are pretty tight so I don't think I'll be able to make a cash offer while still making it a Win-Win-Win.
I'm considering the possibility of a finance offer but have never made an offer for finance so any tips or help is greatly appreciated!
Here are the details below.
ARV: $140,000
Mortgage Balance: $80,000
Est. Repair (Before Due Diligence): $15,000
Seller Asking: $150,000
Motivation: Inherited this home from a family member that passed, wants to use proceeds from the sale to move into a new home.”
Making a creative finance offer is not always feasible. For example in pre-foreclosure wholesaling, you would need to factor in the cost of bringing the delinquent lien current.
The math has to add up to profits after the owner and the lien holder is taken care of. At the end of the day, the number one factor is the motivation level of the seller.
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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