myEmpirePROQUESTION ⁉️ “Hey,
So I’m meeting with a seller on Tuesday to check out this home and I wanted to see what tips you might have or what you would recommend regarding making an offer.
The numbers are pretty tight so I don’t think I’ll be able to make a cash offer while still making it a Win-Win-Win.
I’m considering the possibility of a finance offer but have never made an offer for finance so any tips or help is greatly appreciated!
Here are the details below.
ARV: $140,000
Mortgage Balance: $80,000
Est. Repair (Before Due Diligence): $15,000
Seller Asking: $150,000
Motivation: Inherited this home from a family member that passed, wants to use proceeds from the sale to move into a new home.”
Making a creative finance offer is not always feasible. For example in pre-foreclosure wholesaling, you would need to factor in the cost of bringing the delinquent lien current.
The math has to add up to profits after the owner and the lien holder is taken care of. At the end of the day, the number one factor is the motivation level of the seller.
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