April 22

This Dog Has Too Many Fleas

This dog has too many fleas!

That is exactly what one of my buyers said about a property that was offered to him.
I absolutely love my field of work because you see the funniest, the craziest, and the ugliest things out there in the real estate market place.

This house is so beyond repairs that it needs to be fully gutted and redone from beginning to end. This is a probate property that one of my students tied up and through our group is offering it to another student and as much as this student wants to buy it, for him the numbers just don’t pencil out.

So what do you do when this happens?

What do you do when you’ve negotiated a property down as best as you could and you are wholesaling it but the market just isn’t buying it?

Well, you go back to the drawing board and re-negotiate. You use what ever data you have acquired as to why this property is not worth its current price. In this case there are many permit discrepancies and incomplete and incorrect work on this house.
In the investors defense (who tied it up); he never drove to this house and has never physically met with the seller.

However, through our modern day technology (Google maps) which is readily available to all of us; he has been able to see what the house looks like and negotiate this price by understanding the sellers motivation and needs for selling.

And he’s almost there,so now it’s time to head on back to the negotiation table and work out the numbers so that everybody can walk away with a win!

By the way, this is a mobile home.

Here’s a picture that was sent to me from one of the prospective buyers.


Probate property


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