Hey guys, I've been surrounding myself around learning the different profit techniques that's out there but I finally started my marketing and got a VERY MOTIVATED LEAD within the day. Great right? Problem is that there is not a whole lot of equity in the home since his interest was very high and he paid the minimum. He told his lender that he wanted to get rid of it and move away and they offered him $12K if he just gave the house back. He wants a minimum of $15K from anyone else as long as we pay off the remaining balance of $46K. I was the first investor he came to but some other investors also offered him the same deal. I talked to him afterwards and said he would rather do the deal with me because he knows me well. He is just waiting for me to come though with the purchase. This is a perfect rental that could rent for $800-900. So it brings a great ROI. The exit strategy that I see is wholesaling this as a rental to someone or buying it subject to the existing loan but needing to pay the owner his $15k.
If anyone can help me getting this deal done or wants to buy this deal please give me a call.
Israel Ramirez (469) 684-5808
