No Equity In Property
Hi,
I'm a newbie.. I got a call from one of my signs. There is no equity from the home owner but he needs to sell quick. He has not received a NOD yet. It's a nice, secluded area where the house is, but it's about 1 1/2 hours from where I live and I don't have a lot of time to be going out there to deal with it - it is nowhere near the territory i am working. What would you do?
If the profit is there, go for it. $10,000 might do it for one person but it may take $100,000 for the next person. It all depends on what you have going currently, what you might miss, etc., etc.
Not that this is much advise but this sort of question isn't something that anyone can answer for you.
Assuming I couldnt make time, I would probably try to pass it on to another investor for a finder's fee. You can find them at your local REI club.
Hope this helps...
You say it is about one and a half hours away from you. You are in Denver? Give a little more detail on where it is. Please.
Lucius
I am in East Denver - the property is in Pine, CO....
I like the idea of trying to find someone in this area that may have interest in it.
I have NO experience in Sub 2 deals but from what I am reading it sounds almost perfect for doing it.
You can find more here:
http://www.thecreativeinvestor.com/ViewForum34-2653.html
John Locke might even walk you through it as a sort of advertising/marketing promotion sort of thing to show ANYONE can do Sub 2.
Mike