I found a buyer who wants me to buy a house for under 50,000. Im excited but where do I go from here( besides searching for properties under 50,000). How do I offer a deal on a property froma motivated seller? Do I make a blind offer, or do I use some type of formula?

use the formula.

So the deal would be that "you" buy this house using your GrandFather's money, and then hope that the Buyer will buy it from you.

I hope you have the same taste buds as the Buyer . . . . you don't want him getting cold feet or changing his mind because I don't think your GrandFather will be too interested in a 2nd experience if you get stuck with it.

Why not just sell your interests in the Contract to Buy? That way, you never take possession or incur any Closing Costs . . . . let the real Buyer pay those if he remains interested.

I'd be wary that your "Buyer" may also be a flipper, whose looking for such a good deal that he can quickly sell it to another ready and willing Buyer . . . . but just like in Musical Chairs; someone will be left without a seat.

He may just use you as a Bird Dog.

Oh thank you for the tip the buyer could be using me as a bird dog. I'm going to ask the buyer a hundred questions just to see what their intentions are. But When I'm wholesaling I don't need any money to buy the property right, i just need to buy the contracts. My plan was to pay the seller 10 dollars so that I could get an option agreement on the house that way I could see if the potential buyer really wants to buy the house. When The seller signs the contract and gives me the right to control the house I would then sell the house to the end buyer just below 50,000 that way I could pay the seller for his house and still make a profit at the end of the deal

If I'm not rehabbing do I still use a the arv formula. If so what are all the other expences that you have to deduct from the arv. For example arv-both closing cost-holding cost etc

Good luck. Hope it works out for you. Let us know the results.