OfflineEdited to add...
Much thanks to all for letting me have my little meltdown last night. A good chunk of this- I just needed to get out of my head and into writing so I could see how silly some of it was. Part of this was that I was getting too focused on the ONE realtor I have working with me. We've been putting in offers left and right, nary a nibble yet.
So, Moving forward fresh!
Much better today, Thank you!
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OK., Having watched the first (AWESOME!) day of the Edge Event, my brain is BUZZING... STILL.
But there are things I heard, or thought I heard, that basically having me spinning like a TOP right now.
OK, in the 25:1 method, did he say to look for :
"As-is", AND Vacant, AND Price reduction -- (Meaning it had to have ALL three parts) -- or was it
"AS-IS" OR Vacant OR Price Reduced-- (Meaning any one made it a possible,) --Or was it
"As-is" and/or vacant and/or Price reduced ?? (Indicating that it was still a potential if it had, say- 2 out of 3 criteria?)
I have gotten all three impressions, and my brain is spinning,
ADD in the fact that EVERY SINGLE house in my area that fits all three pieces is EITHER an REO/ Bank owned, or a Short sale- which he started off by saying you can't really assign- AND tend to be more difficult overall.
OK, I get that- you have to do a double close, OK, fine,,, then he started talking about making sure the closings happened at your Real Estate Attorney's office... WAIT WAIT WAIT, WHAT!? I don't have the big $$$$$ to retain the only Real Estate Attorney in this town... What? (Yes, there is only ONE, ah- the joys of small town life.)
It may just be a case of information overload, but it all boils down to...
I am STUCK, getting a little bit panicked, don't know what to do,
Should I try and get a fresh realtor? Mine is a real Peach, But I am not sure if he's sending me what I need, see- he sends me a spreadsheet, (Stripped out of the MLS somehow, I'm sure) Which doesn't have the notes I need from the MLS,... and we were trying that Listingbook site, which sends automatic e-mails every night, but that can't sort for vacant homes, so I might get something that fits the as-is, and price reduced, but is still occupied... Which brings me back in a full circle to my first question and I'm left chasing my tail!
I really AM trying NOT to panic here, and think of ways through this... I can get bandit signs out next weekend- and I can call landlords... I hope- starting tomorrow or Monday morning...
Oh, Yeah, heh- there's ANOTHER question, what happens if the landlords are using property managers and I can't get to them directly?
OK, Possible work around- take the address to the assessor's site and find them there? Do you think that will work?
GAH, I'm babbling now, and there's still an entire day of the Edge event to go... (O_O)
Pardon me while I go breathe into a paper bag, and try very hard NOT to think that everything I've done over the past three months has been a waste of time...
(MEEP!)
Use more than one RE agent on your team.
Definitely make sure the properties are vacant, that will make it easier for you,your contractor, and potential buyers to view.
You don't have to use an attorney to close, just depends on the regulations in the state you are in. Title company may be used. Use your closing location instead of theirs. All fees will be paid at closing.
Yes, you can use the assessor's site for the landlord info. Also, you may talk to the property management company, let them know you're an investor and wanted to know if any of their clients would be interested in acquiring more property. Just talk to people, you'll be surprised at the information you can obtain.
Last but not least, don't feel overwhelmed, just take it one step at a time!
Do you have your buyers list built?
That is step #1!
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
Properties should be: As-Is and/or Vacant and at least 1 price reduction.
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
Visit my website:http://qchomebuyers.weebly.com/
Visit My Facebook Page: http://www.facebook.com/#!/qchomebuyer
Visit My Linkedin Page: http://www.linkedin.com/pub/the-1-fast-ca-h-home-buyer-in-the-qc/28/b79/...
"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
WORKING on that, - had a bit of a block about it, finally figured out I was scared of being rejected... realized this is NOT the tiny high school I grew up in, people are NOT going to sneer in my face and tell me with immense disdain what a wierdo I am! (At least, not to my face.)
Have called two I found on Craigslist, and both are looking for properties, so I added them to my list. Hope to add more soon.
AH! OK, I was getting too focused on the one realtor I'm working with. Need to expand that, and find some more. I'll re-post my Craigslist ads for Realtors at lunch, to start.
If I can find one who will do verbal offers, and then get me paperwork when there's a nibble, THAT would be great!