[Raymond Trounday]

Raymond Trounday

HBS newbie so my apologies in advance if I am overlooking something obvious.. I am working with a motivated seller who is looking to move by October.
Comparable sale price in the area 335k-360k. Since we are in Fall, most folks who are
looking for property are already in their properties especially families with children.
So, I am marketing to investors which generally like to .70-.75 cents on the dollar which
puts the list price at 250-270k

So I am looking to position the owner to list the property as HBS with a initial min offer
price of 299k. We will would split the profit on any accepted offer over 299k.

Thoughts?

[DON WEDE]

DON WEDE

I must be missing something here you said you’re going to mark it to investors at the 250 to 270 K range where do you get the 299 to the owner of the property

[Raymond Trounday]

Raymond Trounday

It was typo. I meant to say that I wanted to convince the owner to list the property for 270k to create a a market for investors. In the highest bidder agreement, I’d like to put in a clause that would allow me to split profit for any offer above 299k.

[DON WEDE]

DON WEDE

Ray,
You said you want to market to investors at 250 to 270 range. So I would spit anything like over 250K.

[Raymond Trounday]

Raymond Trounday

Don,

Will have to take a different approach as the seller owes $281k on the property as I learned earlier this afternoon.

[DON WEDE]

DON WEDE

If the property is truly worth 350k you still have the deal you could put together do highest bidder sale for down payment with a wraparound mortgage selling subject to

[Raymond Trounday]

Raymond Trounday

Thanks Don! How does one confirm that the property is indeed worth 350k? Also, is there somewhere on the site that walks through the HBS and wraparound mortgage exit. I am taking a drive to view the property later this afternoon and review some properties that recently sold in the area and hope to validate the 335k – 360k figure.

[DON WEDE]

DON WEDE

The best comps are resent sales of similar houses in the neighborhood. Drive around see what’s listed
All kinds of info on here. In the premium training a whole section dedicated. There is a training manual for sale. The forum here has a section.