All Forum Posts by: Bryan Davis

It's good that you're getting in and getting your hands a little dirty but try not to stress too much just yet. I typically try to find out from the start if the seller is willing to owner finance (I call it "wait for their equity") for a higher purchase price or are they willing to give me a deep enough discount to come up with my own funding. I've found their answers to these questions to be a great indicator of motivation and as a consequence, an indicator of the potential for a deal. Get in there and check the property out but try not to get too excited until you find out where her head is at. That being said, she HAS contacted you twice so I think you've got a fair shake here. Good luck!

Thanks Jean!

I've always used a standard purchase and sell agreement to tie up the properties and then use an assignment of contract to sell. If you have an option contract than I would expect that you could just sell the option.

Persistence is paramount in this business, people can be unbelievably fickle. I would definitely personalize the letter if you use one but if you feel like the deal is hot, keep reaching out until you get a solid answer one way or another.

Welcome to the family @Joseph Collins !

I did the same thing for quite a while, reading and watching but staying out of the mix. I now use the collective mind of BP regularly to help me navigate tricky spots and to stay focused.

I do a lot of "driving for dollars" and I've got over 100 "bird dogs" doing the same for me (although most of 'em seem to be a bit lame). I haven't really established a "workflow" so to speak for processing my leads and I was wondering what some of you other investors are doing to process your own leads. I'd love to put something in place to bring a method to this madness. Thanks in advance for your input.

This actually just came up earlier and what I gleaned was this. If the seller decides to back out you can have a memorandum of agreement drafted and recorded, effectively clouding the title. Whenever they decide to sell, they'll HAVE to come back to you and either pay you to go away or follow through on the deal. I'm facing a similar situation so I'm a bit invested in the strategy involved to deal with it!

I'm interested to see what you find out about your ordeal. I'm prior active duty Air Force and currently in the Texas Air National Guard. I'm applying for an active duty commission and boarding on the 11th. I've wondered how I could leverage that VA home loan for investment purposes and I've never considered the multi-family approach. That's some food for thought...

Welcome to the family! I'm sorry I'm not in your area but I'm always open to questions. Happy investing!

I went through a similar situation with my home. GC never was on site. Crew left my home in shambles and THEN GC wanted more money! I told him where he could go, he threatened liens then resorted to claiming that God would deal with me. That's about as far as it went. Document EVERYTHING. Take pictures, record conversations or at least take notes, whatever you can do to prove yourself to be in the right. When a shady GC sees that you've got your bases covered, they tend to stand down.