My Deals

I just had a nice long interview with this real estate agent who is really interested in working with me. We clicked very well. He showed me this property that is bank owned. It is listed for 495K. He thinks we can at least offer 400k and possibly get it. It has been vacant for about 5 years.

The house is worth about 900k. Do you guys think I should offer on such a house and possibly use hard money to get it going and refinance it once its under my name to pull out some of the money? Then I could either sell it at closer to full value after I have it cleaned up a bit or I could rent out all the rooms at a nice rate and potentially get a few thousand in positive cash flow.

i got an REO under contract. And I need to know a little bit of information.

Contract: $73k
Rhab: $20k
Earnest: $1,000
ARV: $140-$150K

Now I was told by a local investor that is assisting me that this can work. I would need to do a double closing, or use my end buyers funds to close the deal, then deed the property over to him/her. The only problem I'm running into is I don't know what to put it out there for. I'm marketing it out at $80k. But re-looking at the numbers, I think I need a little more room to be able to cover closing cost, and other fees, in order to make this deal work for me.

What should I do?

I want to know the closing cost for CA, then I can factor that in to my price and feel comfortable.

Any suggestions?

PLEASE HELP!

He who has never learned to obey
cannot be a good commander.

RJB
www.****
Free Real Estate Lead Generator

Hello DG family. I've waited to post this until it was pretty darn near done and there is no turning back. This is a sure close at this point. (Or I wouldn't post it here!) The only thing I'm waiting on now is the attorney to look over my trust and then notarizing documents and recording the deed.

After being told last January I would not be able to buy any more real estate, and some even saying it would be 'IMPOSSIBLE' I have defied all the brokers, loan officers, realtors, and naysers by going ahead and doing the 'impossible'.

I ran 2 adds in the free paper 2 days ago, one was "rent to own a home" and the other was "we buy houses". I got a call from a guy wanting to know whats it all about? Well I called him back and spoke with his 78 year old mother. She tells me they are both retired and can afford $600.00 TO $700.00 a month payments and are looking for a 2 or 3 bedroom. I have to call her son back in the morning. So I have to find something for them. Any advice?
Also I called a FSBO today and talked to a older gentleman who wants to sell his house and move out of state, I'm going to meet with him Saturday morning. Any advice?

Thanks Dave

I put a house under a 90-day option contract for 35k and hope to resell the rights of the contract for 8k. The only catch is that the house needs a solid 35k in work, but comps out to be worth 120k.

Assuming my numbers are accurate, would this be a deal an investor would jump on and pay cash for?

The house is located on the north side of 126 martin street in Covington Kentucky in a transitioning area near Scott street.

Thoughts?

I have a connection who actually OWNS these REOS, no middlemen-msg me for more details! or visite website

RJB
www.****
Free Real Estate Leads

__________________

I have developed a relationship with a experienced bidder here in Phoenix.

My thoughts are seeing as I have good credit, Get a large Personal Loan from wells Fargo.

Using the loan pay The bidders Fee & down payment & monthly payments of Hard Money.

Fix what needs fixing put it on the market and sell

Is this a good idea Or is it too much of a gamble?

I have a lot of cash buyers who are looking in the New York, New Jersey, Connecticut, and the PA areas and not enough properties to send them. If you have any properties locked up or if you wish to work on some deals together, please contact me as soon as possible.

I put bandit signs out targeting foreclosures got 1 lead so far. However for some reason when I called the person she was more focused on holding on to her property and filing chapter 13 bankruptcy rather then selling the home.

The lead I received before that was a couple trying to sell a mobile home for 5,000. They refused to drop the price. When I talked the price down the buyer that I inquired about the property changed their minds at the last minute.

This is the second lead I have gotten that has been a waste of my time. Why are people calling me if they don't want to drop their price or sell their property??? it makes no since to me.

What am I doing wrong here? Is there something I'm missing?