Have A Deal, Need Advice

Just met with a seller yesterday who needs to sell fast due to divorce, bankrupcy, and being behind on payments. So he just wants to pay the thing off and have a little money in his pocket within a few weeks.



Stats:

Owes $142 + $10-15K in arears

Needs $15-25K in repairs

Worth about $265K in good condition

Home is in a good neghborhood close to everthing



I do not have to time or money to take on a project like this so Im thinking my best bet is to wholesale it. What is the best way to do this?

Right now I have been contacting the "I Buy Houses" people on the web, and plan to contact a few local investors in town (BTW I live about a hour and a half away from where the home is located), any other suggestions?

Is there any other options here?



Thanks a lot

James

Comments(4)

  • bargain7616th October, 2006

    Hi swetbac. Have you kept up with the rule changes in Florida for recording agreements? For surplus funds? For preforeclosure purchases?
    [addsig]

  • Jimbezy16th October, 2006

    Thats what i was thinking, and I am in California BTW. I just need to see if the owner is alright with a sub-to deal. Thanks for the help so far.

    James

  • frankieaix12th October, 2006

    Check out the Scott Rister course, it is available from the TCI Store.

    Regards,

    FrankieAIX

  • linlin6th November, 2006

    Look for one of those companies that move mobil homes and they will move the houses.

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