I got the information below from my real estate broker today. I would appreciate some opinions on the potential to do a deal on this property. What would be the best strategy, wholesale, lease purchase, buy & hold?
"Maybe a very good rental or even a possible flip on this one. I had a buyer with a prior contract on this house but they could not get financed - so the agent with the management property emailed me this morning to let me know that they have reduced the amount that they would accept.
Property was originally valued at $115,000
I had an accepted contract at $110,000. They have since reduced the price to $99,144
and today they will accept a Bid of $85,580
This house is in pretty good shape, and it sits on 2 Lots -
Once the Price Reduction hits the system, we will have to go through another 10-day Owner/Occupant priority period, so we should move quickly on this if you are interested.