Need help with ideas
Spoke to a family friend who overpaid for a house in Montana (didn't know that a lot more work was needed until they started ripping things up). She asked if I can check with anyone in my investor community who could help. She paid $330,000 cash plus put in $70,000 for repairs so far. I suggested seller financing but she said she owes a friend $250,000 who helped her buy it, so wants to pay that person back plus needs some cash in the bank as reserves to pay staff for a restaurant she's opening plus money to pay taxes. So based on that she wants $450,000 for it. She knows that is overpriced as comps are selling for less than that already rehabbed. Is there a creative finance way to make it possible to an investor to purchase this?
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4 comments
Carla Rudometkin
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Need help with ideas
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