HI NEED SOME HELP

I finished reading deans book about a week ago and I am excited and motivated to get started. I have filed for bankruptcy and had a foreclosure since 2003. I found a house where I live that is for sale and would like information on how to go about buying it. Heres the deal...It is listed by a realtor, the owners are passed away but the house is in an estate with the surviving adult children living out of state. THe like properties in the neighborhood are selling for over 100K but this house needs some updating and minor repair work to bring its value up. It has 3 bedrooms 1 bath, a full basement, 3-4 window a/c units,a gravity furnace and is for sale for less than 70K. I think with some sweat and a little work it could be worth 100K. should I offer enough over the asking price to pay the realtors commission. What I was thinking was this 2 scenarios. Offer, 74K, nothing down, owners (surviving heirs) carry note for 8% for 5 years with a balloon payment at the end of the 5th year. I could live in the house, make the payments while I fix it up alittle, (I am pretty handy when it comes to upgrading alittle)then sell it for a profit of about 25K in a couple years. OR get an assignment contract, offer 70K, try to find an investor buyer and sell it for 80K at a closing in 30 days. I would like to get an assignment and close in about 30 days, over that time try to find a buyer who would pay the 80K. WHich way sounds better, or am I off on both? please help

where can I get the purchase agreement link the one thats in the book the link is not working for me

I'll start backwards on the "assignment"- the Realtor or listing agent most likely will not like the idea of an assignment. It locks up the house so they can't sell it for 30 days with no guarantee of a sale. Unless the home is not listed with an agent, I'd say this is a hard way to go. A lot of convincing and reassuring on your end to the agent, and if you don't come through, it could be damaging to your reputation. Will an offer of 80K be taken by the family? You need to have the family agree to that purchase price before getting the assignment and possibly selling it to someone on false pretenses....does that make sense. If the family wants more than 80K and if you get the assignment then tried to sell for 80K, someones not going to be happy. Everyones got to be on the same page with assignments.

Doing the work yourself and living there.....1. Do you want to live there? 2. Can you get financing, you do have investors lined up? 3.Are the homes appreciating in your area enough to not lose your shirt if "worst case scenario" happens?

Your "nothing down, owners (surviving heirs) carry note for 8% for 5 years with a balloon payment at the end of the 5th year." might be a hard sell. Usually heirs want their money now, the faster the better. Most of the time the don't want to wait another 5 years for money. But it you can manage to get this deal....TAKE IT! and tell them you'll take it AS IS...assure them if they try to sell the house out right, certain repair may have to be made, you're will to give them a bit of cash flow (8%) and a lump sum at the end of 5 years. Most likely they're going to want some money down...maybe 5K...but ask them what they were thinking....never offer in advance, because usually they'll want to use your offer as a starting point.

Good luck, let me know if I can help in anyway.

Nick