All Forum Posts by: Ben Thompson

@Brett Elia @Jay Hinrichs Sorry if I repeat anything that has already been said, but didn't bother reading much after your first few comments, because this happens with the "big boy wholesalers" in San Antonio as well.  Had an interesting situation where N West sent out the typical email and it peaked my interest as a primary residence, not somewhere I was looking to flip or hold.  I went straight to google, found it on trulia, zillow, etc.  This one didn't bother me, they were smart enough to say hey this deal has been on the market way too long (200+ days) let's see if we can get a deal and resell it.  Good job on their part.  Where I do have a problem is a property they were marketing above list price and they listed it as an investment property.  It was an apartment complex that I had previously seen on loopnet.  I had them send the details over and sure enough the listing was still there for $50,000 less than the wholesale price.  Oh and the original listing explicitly said "NOT INVESTMENT" but rather a development opportunity....go figure.  Be diligent, find the good guys.  Oh and maybe a better reason to stay away - when I was ready to pull the trigger on the other property they sent me a text message to let me know it sold 40 minutes later, wait it gets better....with a picture of the buyer's check and contract.  Personally I wouldn't want them showing my sh!t to other people.

@John Leavelle 

Fantastic!  Sounds like classic case of once you get the first the next comes easy.  I am still in my first flip (only 3 weeks behind schedule).... Just curious did you do mailers, drive for $$$, use a wholesaler or have an agent that found them off market?  Read the challenge, but I don't recall your marketing efforts.

@John Leavelle - Just curious have you purchased the property that you desired?

Can anyone recommend a community bank or mortgage company in San Antonio, Texas that participates in the FHA 203k program? I appreciate the recommendations in advance.