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.
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Comments(7)

  • ypochris27th April, 2008

    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

  • ITBInvestor27th April, 2008

    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.

  • alarson49863rd May, 2008

    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.

  • alarson49863rd May, 2008

    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.

  • joel3rd May, 2008

    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

  • mahimike7th May, 2008

    You need to do a wraparound mortgage.

  • ITBInvestor8th May, 2008

    SlyF250, what did your attorney say? I am always curious as to what legal professionals advise in these kind of circumstances.

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