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Real Estate Investing Is About Helping People In Challenging Situations! #shorts

29 Feb 2024 · 1 min

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In this short video, the speaker describes a real‑estate transaction involving a seller who is $11,000 behind on her mortgage and has little equity in the house. Recognizing the seller’s challenging financial situation, the speaker emphasizes the importance of clear communication and proposes a structured deal: a purchase‑sale agreement that sets a purchase price, requires the seller to continue maintaining the property, and makes the acquisition contingent on finding a third‑party buyer. The speaker also notes personal constraints—no prior experience in Georgia and the need for some down‑payment—yet positions the arrangement as a win‑win that protects both parties while allowing the speaker to market the property to potential buyers.

Chapters

So I called this lady. The way the deal was set up was the seller was behind $11,000 on her property. There wasn't much equity in the deal. She was in a very challenging situation. But I've worked with plenty of people in challenging situations and they didn't communicate this well. They didn't do as much work. So I communicated with her and what I ended up telling her was, look, I spoke with some people I don't have like I don't have any deals in Georgia, but what but I'm what I'm willing to do is if we create an agreement, I mean I can have a good buyer in hand. I'll buy the house, but I'm not just going to go blindly go buy this property subject to as it needs some money down, and I don't know the area, so I'm not not clear about. She said that's absolutely fine. I said let's just put together a purchase sale agreement that'll state that I'm going to acquire it for X Y and Z. You're going to maintain the property and then it gives me the ability to market the property. It's going to be contingent upon finding a third-party buyer.