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Stuck in a sandwich

pazza's picture

Submitted by pazza on March 31, 2008 - 9:31pm.

Joined: 22/06/2005

Advice needed!
I've found a seller who is happy to lease option their house, and I've stepped in to set it up for him.
Early days yet, so I'm getting the option fee and walking away with some experience.

Only problem is, I'm having trouble finding a buyer [ARGH!]
Lots of phone calls from a classified ad over 2 weeks, and calls from a street sign out the front, but no one wants to put their name to it. I've had it open twice and only 5 people showed in total.

What am I doing wrong? The house looks good, I think it's priced ok at $530k when it's now worth $500k on a 2yr option. weekly rent is $550 with 50% credited back. sounds like a great deal to me - am I wrong???



Terryw's picture

April 1, 2008 - 10:08pm

Joined: 01/01/2002

Sounds alright. Where is the house and what is the option fee requested?

Terryw
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Terry@discoverhomeloans.com.au
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pazza's picture

April 2, 2008 - 12:29pm

Joined: 22/06/2005

In Canberra, and the option fee is $5000.


Terryw's picture

April 2, 2008 - 2:53pm

Joined: 01/01/2002

I have just passed a link of this page to a client of mine in Canberra who is looking for a place

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
email me to join my newsletter.
Learn to Make Money Online & Get Free Guide!


pazza's picture

April 2, 2008 - 3:50pm

Joined: 22/06/2005

I look forward to hearing from him, he can always PM me if he wants to.
Thanks for the referral :)


April 3, 2008 - 10:18am

Joined: 16/07/2003

pazza wrote:
I look forward to hearing from him, he can always PM me if he wants to.
Thanks for the referral :)

I sent you an email.


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