June 03-09, 2012

Last week I sent out 7 letters to homeowners who was going into tax foreclosure. One responded back. He told me that if I was a realtor he would turn me into the board because I wrote this in my letter: "You won't make a profit unless you sell". Meaning that if the final bid goes over the back taxes he wouldn't get a dime. Ignorance is not bliss. I was wrong, but even if I wasn't I want to create a sense of urgency. Maybe I'll take that part out or reword it. He was rude anyway and wanted market value. NEXT!!!

I emailed a guy off of Craigslist. He also wanted market value, said his house was a very good deal, he could easily sell it to a soldier, and bashed Fayetteville, NC investors. Said he had investor friends in Miami and the investors in Fayetteville were amateurs. We might be amateurs, but we aren't dumb enough to buy his house at FMV. I told him his valuation was for owner-occupants and that he should hire a realtor. Futhermore, if his house was such a steal, why has he been trying to sell it for months. I think he just got tired of hearing every investor tell him the same thing I did.

Now for the potentials. I called a seller that contacted me in the past. He is willing to finance for $5,600 more. He said there was another potential buyer, but when I talked to him more he said the other guy might fall through. I think he is bluffing so I'm not worried. I emailed him all of the documents to do a finance deal because he was a little uneasy about deeding the house to me.

Next guy is someone from Backpage. He is very motivated and wants to be done with the house. He is also willing to finance. We will see which one I end up with.