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Updated over 8 years ago,
Got my first 2 houses under contract!
Hey Guys!
I'm super excited! I got my first two properties under contract last month! It was exciting and scary all at the same time! I wasn't able to find an end buyer for both the properties but thats ok because I was looking to get my feet wet with process! Of course my goal is to make money, but I know with time and experience the money will come. Any who, my direct mail campaign is working! I am not able to send out 1,000 letters yet because of limited funds, but I have a small targeted list that has got me 4 good conversations so far. Two of the four I was able to get under contract, the other two are in the negotiation stage (fingers crossed). I have a question about a pre-foreclosure. My motivated seller is looking to sell her house before the bank comes in and takes it. She owes roughly $170K and $3,500 in back taxes. The house is worth about $248K and the comps in the area are around $200K. The house has been condemned and flooded and sewer wiring issues . Did I ask enough questions? Am I able to get the house under contract for the asking price of the seller without the bank being involved? Is there a way for me to check the foreclosure price online?
Thanks!