Learning and Burning 11 Report post Posted February 27, 2013 Hello guy's and gal's.I have an investor who has been working with a realtor and not happy as he keeps telling him to lower the price and that open houses are a waste of time, and thats not how he sells houses.......Lazy im guessing. I have him now ready to work with me to get the house SOLD. He's in L.A and the property is about an hour away. I'm about half an hour away and would like to see if i could make this my first pure option. Seller is calling me to meet at the property Friday and wants me to send him my contract so he's up to speed for when we can meet. He wants to work with me as a coop or something of the sort.The house is nice, vacant and ready for marketing. I think he has it priced right, just not getting the attention that it deserves. He has cancelled his listing and now wants to see if i could make it happen. Now the what do you all think i could do to make this a winner, my first thought is Pure Option. Not for sure thats the way to go, as the seller said he would pay me to bring him a buyer as well.... Learning, learning and kinda burning...... Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 27, 2013 When you meet at the house, go over all possibilites with the owner. What do the numbers suggest is the best approach? Is it overpriced or a steal? Will it cashflow and therefore be a candidate for some type of lease purchase? What does the homeowner want to do? What do you want? Why hasn't it sold? Run the comps now and be prepared for Friday's meeting.Bring the various agreements you'll need for whatever type deal you'll end up doing. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted February 27, 2013 Seller wants an outright sale. I feel price is fair market, so dont know that there would be much of a steal. My first thought was a pure option and not sure that is the solution. I asked him if he would consider a coop to get it sold and thats how i got him interested in working with me. So is that something that makes sence? I Learning and Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted February 27, 2013 I mean does it make dollars? If so what would i need him to sign to get me in the door with this one? Thanks Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 28, 2013 If he just wants the property sold, then an easy, no risk strategy for you is a Pure Option. Problem is, you need to find a buyer on the other end of the deal. If you're agreeing to a retail price with the homeowner, who will come along and pay you more? Think of a Pure Option as a type of wholesale deal, but without the risk. You need the lowest possible price for as long an option period that you can negotiate.If he is open to a CA, you know the drill by now. Share this post Link to post Share on other sites