Took Action Today and Still Feel Pumped!

[Craig Norris]

Today I called up my business partner at 9am and said, "I'm going to get a haircut and I'll be by to pick you up at 11. Let's go find a deal today."

We drove to an area he was familiar with near his home in Long Beach, CA. Came across a beater, knocked on the screen door (my first door knock) for no answer. Went back to the car to write a note. Older man comes out and picks his mail up of the porch, so hurry up and finish my note and go back to leave it. He was standing behind the screen and introduced himself. 

We started talking and went on for about 20 minutes. Nice older guy. Informed me he lives off of his SSA, and it easily covers his mortgage but definitely isn't enough to do the remodel his house needs to bring it up to date. 

Here's the situation: Property is in distress, no doubt. Owner is comfortable as a bug, without a reason to leave. Has an LTV of +/- 20%. Just to feel him out I made 3 cash offers, with the highest leaving him walking with up to $270k in his pocket. Received quick "No" to all 3. But he never said he wasn't going to sell the property.

Am I going to follow up? You're damn right I am!