Christina Jensen

Hi Friends, I have a friend who is a realtor and she has a client with a PROBLEM TO SOLVE I wanted to put out to the com

Christina JensenΒ·1d ago
Hi Friends, I have a friend who is a realtor and she has a client with a PROBLEM TO SOLVE I wanted to put out to the community. I am a newbie and these numbers and this market are a bit out of my experience and knowledge level. This is in the luxury market, a gorgeous house in the Daybreak/South Jordan area of Utah, about 20 minutes from SLC. It is quite unique in the area because it has a yard and most of the houses don't. It is listed at https://www.zillow.com/homedetails/4385-W-Open-Hill-Dr-South-Jordan-UT-84009/63204319_zpid/ and as you will see it has the works - a pool, basketball court, hot tub, trampoline, and a gorgeous house, with a theater. The problem is it is a little bit older than some in the area, built around 2005 and the paint and carpet are not updated, outside and inside paint both. Also, the big attraction in the area are the houses with fancy chef kitchens and this is a basic home kitchen, a pretty one, but nothing to brag about in the luxury market. They have had several open houses and the yard is a huge attraction but no one wants to redo the inside of the house. The other problem is this house is owned by a couple who just got divorced, the husband is incarcerated and the wife just really need to move on with her 5 kids, and is honestly scared about being able to. in order to move on, pay off the debts that the husband created and have any sort of getting set up again she needs a decent amount, more than what I have found from people I have asked. The house is listed for 1,200,000 and if she could get at least 1,100,000 she could pay things off and move on. She has already offered concessions for the areas that need to be fixed up and they weren't received well. I looked into subject to but the problem is that some of the debt on the house is the liens from the husbands bad choices so my friend said subject to wasn't really an option on this one. My friend has a bunch of comps that are around 1.5 mil or even 1.6 but also said that the updates to get it to that level would possibly be 200,000 so the margin is kinda close. I honestly am looking for my first deal and am not needing a gigantic margin, but also don't want to end up upside down obviously, so I wondered if either someone a little more experience, especially in the luxury markets (I'm in the low income, affordable housing market....) had some creative idea or was willing to take this one, or if someone wanted to partner on it. The seller is a very sweet, amazing lady who knew NOTHING about what her husband was doing and is now in a very tough spot, so my friend, who is interested in joining Renatus actually, but concentrating on this property at the moment, asked if anyone could help to solve this lady's problem, and I told her that is what we do! So I am putting this out to the pro problem solvers to help me learn the tricks of the trade!

1 Reply

Maeli NelsonMaeli Nelson1d ago

This is awesome! I actually know someone who would potentially like to partner on this! Is there anyway that you could jump on Smile and dial today?

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