Okay, is this kokisha, did I pronounce that right? Yeah. Coquisha, kokisha, got it, man. I’m proud of myself. First try, kokisha, this is lane. I think we had gone back and forth on text messages earlier today calling about your property that you sent over to us on Lindell Avenue. Yeah. Is now an okay time? Yeah, that’s fine, good. Well, as I’m pulling your property up here, I just Well, let me verify it’s 2224,
yeah, Illinois, 6966 perfect.
Well, as I’m getting that pulled up, what can you tell me about what you got going on there? Okay, so bought the house about five years ago while I was staying in Illinois, because it was literally across the street from dad. I moved back to Arizona. I had somebody that was renting it, and the renter is moving out, and I just don’t want to deal with it. I just want it sold so I can be done and walk away. When are they moving out in the next month? Okay, so you’re wanting to get something done here in the next 3045, days or so. Yeah, great. Well, yeah, we can definitely accommodate that. When’s the last time you were in the property? Kokisha, me myself. I went to town. I went to Murphy’s Pearl about a month ago.
Okay, how long have these tenants been in it? Well, my brother was staying there for Well, when I first left, and since then, my cousin is there, but he’s moving. So, okay, so these are family members. These are family members that are there. Gotcha. Okay, cool. That’s good. Sometimes they usually take better care of the property. Or there’s other times that, you know, they just, they kind of tear it up because my cousin that’s there, taking really good care of the property, start the house. I’m not gonna lie, it does need some repairs, but I just, I don’t want to do anything. I want to be I want it to be over.
Hey, I don’t blame you, especially not being there. That’s tough, right? So tell me about like, what kind of repairs you think it’s neat. It needs, I know the bathroom could use remodeling, and it is just one bath. Yes, one bath. Gotcha. Okay. I’m like, nothing is too terrible. But house is in really good shape towards age. Okay, yeah, I see it was built in 1948 I mean, has it been updated since then? Yeah, it’s been updated. Okay, but you haven’t done any of the updating. I haven’t done the updating. I bought the house from did the updating.
And how long have you owned it? Five years Gotcha. Okay. So any idea how old the roof is whenever we track the roof with 10 years old, okay? And what about AC unit? Does it have one? Or does it just have a furnace? It has an AC unit? Okay, you know how old that is not right? I can’t Gotcha. Okay, no problem. Okay, well, good. Well, Coki, I’m sure you know a little bit about us. I mean, obviously we’re a cash buyer. We buy the home as is, what we’re really looking for is, some is properties where, you know, we can bring value to it, whether it be because of the situation or the repairs that are needed. And so this one looks like it’s a, you know, it’s perfect for us. It’s just, it’s right up our alley. It’s in a market that we really like. And our offers are as is right. No closing costs. We’re there’s no commissions that are involved in our offer. You know, have you thought about like, if I was to come in with an offer like that, what kind of price would you be willing to do for me between 50 and 60? Gotcha. Okay, and how’d you come up with that number? I
Well, between me and my sister, we looked up to see what the house was valued at, on the low to see where we were, and we saw that it was like 86 there. And my sister was like, You can’t ask for 86 Well, yeah, that’d be great, right, of course. And in the perfect world, 86 would be wonderful. But she was like, just make three, what figure needed? 510, $1,000 in repairs, enough for them to still make whoever’s gonna buy it just still make a profit.
Yeah, well, I like where your mind’s at, because that’s exactly, that’s exactly how it works. You know, if you find a value online, whether it be Zillow Redfin, realtor.com, you know that value that you’re seeing is assumed that that property is fixed up, and it’s also what you’re going to sell it for on the open market, hiring a realtor, paying commissions, paying closing costs. So if you do want to sell it for 86 by all means, I mean, go fix it up, go hire a realtor, go do all the work to do it, and that’s about what you can sell it for. So I’m glad you understand that, right? She made sure it was clear on what had to happen. Yeah, okay, well, I’m just kind of looking around here at some comps that are in the area, and there is some stuff, I mean, that has sold, you know, on the MLS, I see it, there’s a four. Bed two bath that sold for 63,000 right around the corner on 22nd street. There’s another one over on roblee street that is a three bed one bath that sold for 33 stuff around there. Yeah, and is yours a three bed one bath or a two bed one bath? It’s technically
three it’s got three rooms. Gotcha. Okay.
Oh, man, I’m seeing there’s another one for 40. Well, there’s one here for 71 and that’s a it’s also a three one, and it’s been all repaired and everything, man, I just roughly, I mean looking at it here real quick, and the stuff that is fixed up, I’m not sure I’d be able to get to 50. What do you think, like the what if it, if you can’t get 50, what is, What’s plan B, if I have to put it on the market, I’ll put it on the market. Yeah, is, is, like, I’m looking at some comps that need some work, that, you know, they’re down in the 3040, $40,000 range. I’m looking at another one here on Alexander Street, totally fixed up, three bed one bath sold for 71 42,002 bed one bath. So, I mean, I’ll just, I’ll be straight with the cookie chef, because I don’t, I don’t like to beat around the bush or anything like that. But if I was just seeing these numbers that I’m looking at right now, I mean, I’m down, like in the 19,500 range. That’s not going to happen. Yes, not gonna happen, yes. So, I mean, you still have a loan on it, yeah, about 1000. How much you broke up there? About 20,000 Okay, so that’s a right there about what you owe. Well, I’ll tell you what. You know, there’s other ways to sell your home, other than just hiring a realtor and and getting a cash offer. Have you ever considered selling your home on terms like doing a seller finance? I don’t want to have anything to do with this property. After I’m out of it.
I totally get that. And that’s the great part. Is you don’t have anything to do with it. You’re just you become the bank. And whether I get a loan from Wells Fargo or have you finance your equity? All you’re doing is collecting payments. You have no ties to that house other than a loan on it. Does that make sense? Yeah, but I would still have a loan, and someone can still people, and I would still be responsible. Yep,
you’re 100% correct. That could happen. That could happen. So, okay, so you owe 20. What’s, what’s the absolute lowest you would take? You think I’d have to go over with my sister. Okay, because if I was able to get my office to go above 20, I mean, I don’t know how much it would be able to be. So let’s, yeah, talk with your sister. I mean, have you talk to any realtors in the in in the town at all? Yeah, okay, because you know that that might help you out too.
I’m just trying to, because I’m looking at the comps here that have, that have all sold, and there’s just a lot of cheap stuff in that, in that neighborhood, is, is my only concern. So there’s, there’s one other option I can, I can talk to you about that we offer, and I have to get it approved. I’m not even sure if I would be able to get it approved for taking all the information from you, but it’s, it’s called our accelerated program. And basically what we do is we know that we’re really good at marketing, you know, that’s how you were able to find us. And what we what we do is, it’s, it’s just like a net listing, right? We agree on, I can pay you a lot more. It just takes a lot more time, you know, it’ll take, you know, between 45 and and 60 days instead of just the quick close. But basically what the way that it works is, I stick my marketing team on this and we go and market it to our investors, to end users, we throw it on the open market, and we’re able to get you a lot more going that route. So if you have a little bit more time, you know, we we could, we could do it that way. I could see if I could get this approved and going that route. It’s probably still only going to be, let’s see here, I could, you know, I could probably get you between 45 and 50,000 okay,
I can talk that over some days at work. Works. But again, you remember that I’m going to market this property, I’m going to, I’m going to send it out to all my investors. We’re going to stick our marketing team on it. So it’s just going to take longer to do, like I said, it sometimes, you know, just depends on how fast we can sell it. You know, it could take 60 days. So if you have more time, we can get you more money at that at that time, I just the mortgage on it’s only 286
Yeah, that’s a that’s a great mortgage. I would love to be able to just take that mortgage over and then pay you the rest of your equity out over time. Okay, so I mean, what if we came up with a purchase price? What if I was to say, hey, I’ll pay you $65,000 leave that mortgage in place, and then the difference is your equity. I’ll come in with a $5,000 down payment, and I’ll make payments to you every single month and to pay off the equity that you have. And we’ll put a 10 year balloon on it so you’ll be able to sell it for a lot more
and make. And see how that was, how that looks. Okay, is your sister own this house with you, right? But my sister helps me with anything and everything, just to make sure I’m making the right decision. Love it. That’s awesome. No, I totally appreciate that and respect that. So why don’t you talk to her and then let me know when, if you guys want to get on a three way call, we I can do that as well. You just let me know. I’ll talk to her. Then, no matter what, we’ll talk. Okay, well, cokisha, I’m here to help. Let me know after you and your sisters after you and your sister talk, just let me know. All right, perfect. Thank you. All right, thank you, sister, yeah, sisters or daddy or what?
She just doesn’t know, Dude, she’s just shook by your low offers right now. She’s like, where’s this located? This feels like this is Midwest territory or Murph yeah, Murphysboro, Illinois. I mean, it’s just, it’s a small town, that’s why, I mean, the Novation route is really the right way to go on a deal like this. And I call it our accelerate Yeah, I call it our accelerated program basically just says, Hey, I you know, we’re going to go put it on the market and help, you know, get it sold for you. You say, Yeah, you said net listing. I’m curious, like, do you usually use that term? Or I do? I do sometimes, and it just goes over a little bit better. It’s easier for them to understand. Because
I feel like every time I say that word, people are like, Oh my gosh, no. Like, they they like, get crazy on it, because it’s technically illegal if you’re a real estate agent, like in Utah and other, I think, in general. So I didn’t know how you react.
No, I think that’s state by state. Okay, yeah, it’s illegal, but you’re not an agent, so you’re not, you’re not, technically, you’re not doing it. And that listing, I think, is like, Hey, you we’re going to list it for this, and you’re going to pay me anything above that make on top of what we list your house. But I’m not, I’m not, I’m gonna go find a realtor to list it for me, right? Yeah, and then you, you’re gonna work out,
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