I have a great lead on a property that has been vacant for quite some time (the owner lives out of state). Taxes are being handled by a 3rd party and are not deliquent. While the yard is being maintained I have no idea of the internal condition and if it is being maintained in any way. I do know based on comps ran this morning, that houses in the area have managed to appreciate and if I were listing the house I would suggest a price of $215-220ish for a quick sell. There was a re-fi in '03.
Here's my dilemma: I plan on approaching the buyer but would like to maximize my profits on this transaction which means I don't want to just list it and receive the now reigonal standard commission of 3/2% in this buyer's (buy & hold) market. I do not have any money to work with at this time. Any suggesions would be greatly appreciated. I'm still looking for my first deal.
What would you do if you knew you couldn't fail?