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I will think about the offers to make when I get more details about the house.
And I will be making multiple offers.
Today’s call was great.
I will negotiate to stay in the middle of the deal.
And I am working on getting master lease and seller finance deals.
I have seen that there is nothing really in this lead and I have backed out.
Thanks guys for your help.
I would say $1500, most houses I see for rent in that area with 3 bedrooms and 2 bath go for 1400-1500, but they all have one car garage.
this property has a 2 car garage
That is what I thought,
Another thing I was thinking was maybe I could lease option it for 2 years, then lease option to a buyer for a 1 year term.
But the terms is really short. I might just tell her that I cant help her.
Hello Ayesha and Jackie,
I have gotten more information on the property.
I am in the Winnipeg market, It is one of the best market in Canada, It is very Immigrant friendly compared to most places in Canada, so there is a lot of immigrants entering the city every year. At the last Investment club I went, I was told it is the best market for rentals and new home owners in Canada.
The comps is about 270K( I think it might be up to 285k)
It has not been listed with a realtor
There are 3 bedrooms and 2 bathrooms
Square Footage is 680.
House was built in 1985
Bought for $265000 in 2014 .
The house is in excellent shape. No issues with the house
The property is in a good neighborhood, good schools and low crime.
PITI is $1450
She said it is a 5 years fixed mortgage at 3.09 interest, so it will end 2019.
She said they bought new appliances in 2015
the mortgage balance is $242000
Payments are current.
She wants 265k for the property.
wants to sell the house before July as she wants to buy another house in Ontario to move into in July
I have not negotiated the price or anything with the sellers, These are just the information on the property
I was thinking seller finance because the house is in excellent condition.
Now I think this might not be a good property for me as there is not much equity and other factors like the 5 years mortgage.
What do you guys think?
Thanks guys for your time , I appreciate.
I decided to use Investor carrot to have a up and running website and I already have my first lead.
Here in Winnipeg, I think online presence will be the better way to get leads because of our very cold weather
Thanks for the insight, I already checked them out, looks interesting.
I am thinking of maybe creating my own website.
I am trying to find investors, I have not come across any “we buy houses” ads on the newspapers yet, but I tried googling we buy houses in my local area (Winnipeg) and I have seen some websites and listings with their contact number, saying they buy houses at any conditions.
Do you think these people are investors or just people like me?