[Larry Niskey]

Larry Niskey

Hi,

I see a seller on-line that has a house for sale at $175,000 and he says market value is $275,000.
He says only paint, carpet and minor repairs needed.

How should I approach this seller for an option to buy?

Thanks
Nick

[Jackie Lange]

Jackie Lange

Just get all the details about the house and the mortgage if there is one. Are the payments current? Taxes current?

You need to see it. There is probably a lot more needed to repair the property.

Tell him you work with a group of investors who may be interested in the house. You’d like to get them over to see the property next week. But they won’t come look unless you have a contract to purchase it first. Tell the seller that you only need 1 week to get all of the investors to see it. If they approve the purchase, you can close a week later.

Also ask if they would consider seller financing. If they say yes, then you could seller with seller financing that wraps the underlying loan. You’d make more and sell faster.

Read the Flip Deals book, the conversation is in the book.

note… the group of investors are the people on your buyers list