Deal On The Line
I have a 2 family--3 bdrm, 3 bath duplex in Patchogue NY seller is leaving state. House needs roof repairs, and siding. Asking $380000 FMV$330000 seller needs to pay off debt and moving expenses. Balanc of mortgage: $280000 Payments $3000 per month 1 side of duplex rented out $1000 FMR $1500 What are the hot buttons I can use to further persuade the seller? And to put together a deal.
[addsig]
Why would you waste your time on this? Asking price $50k over FMV; loan payments $500 more than rental income on a loan $100k less than asking price... Repairs needed too?
Next!
Chris
I hope your Subject To deals were better than this one... http://www.thecreativeinvestor.com/ViewTopic63677-34-0.html
This is not a deal. And you want to persuade the seller? I rate this property as an AVOID.
Good luck. (what an ass)
Their called proplem properties you should look into them. instead of posting ignorant comments maybe you could be out their making money.
Quote:
On 2008-05-03 08:59, alarson4986 wrote:
Good luck. (what an ass)
Their called proplem properties you should look into them. instead of posting ignorant comments maybe you could be out their making money.
Rather than posting a forum post, click on the Save This Search link, and add it to your favorite searches.
http://www.propbot.com/search.php?ts=cfs&types=9,57,56,67&advs=1&sp=0
You need to do a wraparound mortgage.
SlyF250, what did your attorney say? I am always curious as to what legal professionals advise in these kind of circumstances.