All Forum Posts by: Adrien C.

It doesn't matter how good the deal is if the seller isn't willing to talk. Plenty of people think walking away is the solution. It's the easy thing to do. Let the bank have it and deal with it. You have to be able to get her to calm down and ask her if she's open to you sharing with her all the options she has (sell w realtor, foreclosure, sell to you, etc). Educate her on the options and pro/cons of each and let her decide which best fits her needs/desires. She's emotionally drained right now from this property or dealing with the bank or whatever lead to her falling behind. Help her look at it logically to make a decision that is in HER best interests. Be okay if she doesn't want help. I spoke w a lady a month ago who is going to lose her house 1/8/16 at the auction. I gave her 5-6 options and the ramifications for each. She admitted it was in her best interest to sell but didn't want to deal with it and was just going to stay until she was forced to move. You can't help them if they don't want to be helped. 

In addition to everything Bill Gulley said- it's work, HARD work. These motivated sellers don't have you on speed dial ready to call when they need to sell. Most have no clue there is an option to sell outside of a realtor until you find them. It takes time, and persistent work to find enough sellers to find a deal that makes sense and you can flip quickly to an investor. 

property has been sold

Sorry Jim- I intended to say "off market" and not all market. Since the stuff I find isn't listed, no competition over it and other wholesalers can't lock it up. 

BTW for the folks looking for stuff in Mville- send me a PM regarding the criteria for a house you want (bed/bath, size, max price, amount of rehab willing to do) and I'll go find you something all market. I'm not against realtors but it's hard to find one that has an investors mindset and looks at the house through our lens and w the numbers analysis we do. Remember most are trying to sell pretty houses at retail value, get a commission, and repeat. 

Good advice and tips Jim 

I understand your frustration. I don't think that will help for the exact reasons you mentioned. They'll be several who call and don't have the letter in front of them as well. I just call back all numbers even the ones who leave mumble jumble on the vm. 

Do you view houses personally or rely solely on realtor?

I was just looking at assessed value and listing history. There's a few houses just a block or 2 south selling over 100k. 

I'm estimating you'll be all in after repair around $75k unless you got it way under list. I'd take that amount and go south more into Merrillville so you can get the higher rents, experience better appreciation, and deal w different tenants. I don't know how you and your realtor find stuff but you should be able to find something, be all at at $60k after repair, and get over $1g rents. I agree w Sharad that getting $1200/m on that property will require more than paint. 

there are some decent pockets up there. I was looking at a house on the other side of Broadway about 5 minutes from yours and it was a nice neighborhood. Getting $1200 for a brick 3/1.5, 2 car garage witha Mville address isn't unrealistic. Even at $1000- it's good ROI based on your purchase price and getting it at 2/3 ARV.