Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

I found a FSBO sign in my area that is a multi family, the sign was 1 10 foot by 6 foot wooden sign. With the phone #, sales price 350k and bold letters that said NO REALTORS also has a area code that is about 200 miles away!!! Seem like he may be pretty motivated, my problem is I have no Idea how to approach or even begin a deal. I would appreciate any help from the DG family. Thank You a bunch in advance!

Many investors have asked where do I find my deals? As Dean says on page 227 of "Your Town" local newspapers run legal notices of foreclosures, auctions, etc. Also, tax sales and notice of forfeiture due to unpaid taxes are listed in the local papers. The first thing that I read is the legal section in the newspaper each day, not the sports section. I found one unit that was on the front page. The county had a meeting for a demolition hearing on the property. Needless to say, this was a motivated seller. I have owned this SFR for several years and it helped to become my building block for REI. If you are not reading your local newspaper you are missing a valuable source of information.
Jimmy

Just Curious if anyone out there is wholesaling in my area. If so, What success have you had so far? According to my new Realtor .. anything that is listed below market value is receiving multiple offers and driving the price right back up making it difficult for wholesalers to come in and low ball the owners and have the offer accepted. I know there are TONS of desperate people here needing to sell .. but I fear there is too much competition here? Anyone else???

As a real estate coach with PMI and a long time investor I have seen alot of success and alot of failure when making offers on property and get more complaints from students who are not effective at writing offers than anything else. I offer the following solution:

1. Use zillow to search for properties that are listed 20% or more below market value that either just hit the market or had a price reduction in the past 30 days. This gives us the highest likelihood that the property is still available, the seller is motivated and your not going to have to ask for an unrealistic discount to make the deal work.

I have a place under contract that I knew the numbers were tight on. i have asked questions about my options before but I'm still not sure what to do. the homeowner just wants to walk away. he owes $52 on the property and it needs $12k to be sell-able and the ARV will be around $80k. I talked to several investors in the area and they all passed. they all say if it was 45k it would be a no brainier. I need advise from someone who has used strategies to close deals like this. I'm about out of time on my contract and wanted to know if there is anything I could do. do the banks take short payoffs without going through a short sale? any info would be great. Thanks, Sam

Hey guys, I currently living in Hawaii however have family in MO. I just bought a few properties in the MO area in Saint Louis and wanted to know if any one could requirements me any good property management companies?

I looking for a company that has great rates but also a good turn around time on tenants. Also them being real estate investment aware would be great.

Thank you

David

Hi everyone,

I apologize if this has been answered elsewhere but I searched through forum and couldn't find...

I own the rock bottom blueprint course and have gone through the steps to find a group of MLS listed homes in my target area that are vacant, had a recent price reduction, starter homes, and need work/tlc, etc.

Its at this point where I'm not sure what to do...

I'm looking for wholesale candidates, and in the 25 to 1 system that Matt Larsen/Dean talk about, its from this list that it sounds like they make their offers to... out of the gate at 40%-50% of the current listing price..

Am I to understand, that they only make offers after they've pulled comps, researched local area of home, etc OR do they ONLY do that part after they get an accepted offer back?

I have a list of props from a realtor, she says she can pay a referral fee, should i settle for that or is there away i can get paid from the buyer

If I buy a house and then try to flip it later do I have to pay higher tax rate? Thanks for your advice.

Hey DG family! Well ive been busy working on RE Im working on the 25:1 strategy, fsbo and i also have 25-30 signs out their working for me lol.

I have a question? When i drive around ive seen some houses that are vacant and look like no one takes care of them. How would i find out who ownes the house? is their a program? or should i just write the addresses and take it to the county tax? Any suggestions would help. thanks in advance!