Telling realtor her listing will never sell

Telling realtor her listing will never sell Price cut: $10K $375,000 3 beds 2 baths 1,231 sqft Then his option is HOLDING the property *5 mins before* Realtor: He would like to give you a counter offer of $342,000. He is not in a position nor does he want to entertain holding a mortgage. That might work, but the problem is, I spoke to my lender, and I said, hey, if there are structural issues, as this person talked with the post, I mean, that would be more so a hard money loan for the fix & flip. I totally understand holding a note is not desirable, and there's not really much I can say to change that. I get it. He wants all the money up front. But if I, if I were to get a loan on this, it's a fix and flip loan, and if I'm flipping it, *Interest rate too high* that, the margins are, you gotta be steep at this time. My lender wouldn't fund it, unfortunately, so. Well, I — that's unfortunate. There's yk, really nothing that he would probably do for you. He's counter offering your $410k offer with $342,000. What is this listed for again? I I forgot. $375,000. If I can get him $500k over seven years And I know, I know he doesn't want to, but this, it's my last, last resort. I don't, I don't have much of a solution. Quite frankly— listen to me for a second. I've been doing this a long time... The property is not worth $500,000. I don't think you want negative equity, and that's exactly the position you would be putting yourself in. I mean let's get serious here. I've been doing this for 35 years. When you say, let's get serious and you've been doing this for 35 years. Do you know that when you buy a $300,000 dollar house, you pay the bank $950,000 over the course of your loan? I understand that — I'm not saying you have to do a 30 year loan I'm saying that he's not willing to do it. Right, but you just you just brought up a point about how I was over leveraging myself. I'm explaining that I'm actually saving a lot of money if I do this. So what I would do is I'd stack an interest rate onto it, which is lower than the bank's rates. And that would amount to him getting $500,000 over a seven year period of time. It's actually a really simple amortization and interest rate calculator. But you've been doing this for a while, so I'm sure you're familiar with that. *uhh uhh* The unfortunate thing is he is not willing to hold a mortgage. Okay, well, go to him and say, hey, it looks like you're gonna have to hold on to this thing. BUT— We may, and God knows we have! this credible buyer is willing to give you a $500,000 over a seven year period of time. That doesn't mean I offer $500k. That means we give him an asking price and we put an interest rate on to it. And interest doesn't — you know, my payment, some of it just disappears into thin air. And the total amount received is $500,000. Which is super easy for me to do because I can just get a loan to refinance them out at the end of this. And on my down payment, what I save, I can use to renovate the property so that it is bankable. What I'm saying to you is you could get property for a lot less than that if you were willing to take a mortgage on it. It's not if I'm willing to take a mortgage on it. You're asking a lender to break lending guidelines. But you've been doing this for a while. You know that, right? No, no, no! 😡 There are no guidelines! You haven't even seen the building. There are lending guidelines... And quite frankly, 21 out of the 23 properties I have have a mortgage on it. How did I get 21 mortgages? A mortgage does not have to be paid off when you sell a house. And if that's something you don't believe, look at line 203 of your HUD statement. He does not wanna hold a mortgage, then his option is holding the property. Yes, yes. And it has been a money maker, and he may end up doing that. I think that's a great fit. Or you can go to him and say Hey, this buyer has great proof of funds and awesome portfolio that checks out. And he wants to give you $500k over a 7 year period of time. So A).. We take it off the market because, you know, it's unbankable. Just based on a DSCR loan that an investor is gonna get or an FHA. Or we work with this buyer, you know, you cause then we catch up to the chase a lot faster. And you stop taking calls like this. I will send it to him and I will get an answer for you. Thank you so much. Bye. Bye.