All Forum Posts by: Chris Frydenlund

What is the purpose of buying tax deeds? I'm curious. I still have a lot to learn.

Hi BPs I'm about to mail a list of property owners scheduled for the upcoming foreclosure auction due to mortgage delinquency. To improve my response rate I would appreciate if I could see examples of successful copies for the direct mail. Is anyone willing to share their copy with me?

Hi BP If you have success with direct mail targeted pre-foreclosure, would you share the content of your letter with me? I'm about to mail a list of properties scheduled for upcoming foreclosure auction due to mortgage delinquency. To improve my response rate I was hoping that some of you are willing to share your mastered letter with me.

I'm looking for companies that has success with Facebook. They must be focusing on foreclosures, since this is what I'm doing. I'm looking for successful companies to learn from to know what works and what doesn't. That'll save me a ton of time and money. By going through other companies' Facebook page you're able to see what type of posts drives the most engagement on their page, which indicates what their audience is interested in.

Hi,

Can someone help me remember the details?

A seasoned investor explained a great way to make money in real estate through seller financing (owner finance), but I can't remember the details, and now I have the opportunity to use this strategy.

Here's what I remember:

1. Buying a house for 70% of market value including repairs.

2. Purchase made with seller finance or with a hard money lender

3. If using hard money lender then refinance with bank after house is fixed, which will cover the money for hard money lender.

4. Seller finance to buyer for a higher interest rate than your own loan with previous owner or bank.

The benefit of this model is that you make money of the difference in the two loans. If you pay $500/month to previous owner through owner finance or to bank and collect $800/month from new buyer then you make $300/month without owning the title and don't have to worry about issues that a landlord has to deal with.

The Question Is...

Am I missing something? If you choose a hard money lender and pay back the lender with money from the bank can you owner finance it to the new buyer? Or does this only work if you buy the house from a seller that will seller finance it to you?

I hope you guys will help me clarify this strategy.

Thanks Steve Enochs

Darin M. Thanks to you I've been able to do some better research on this. You have given me a lot to think of. I really appreciate it. I've decided to look for a different area. Land seems very difficult to get for a good price. Instead I've been looking into buying a homestead out in California where land is affordable and also popular area for short term rental.

WEN HAN Thanks for your reply. Sounds interesting. Great way to skip all the development of the land. And then for a bargain. Do you know a knowledgeable agent out there who could help me? I'm located in Houston l, so I don't come around out there so often.

Steve Enochs Do you know what it typically requires to develop raw land out there? I'm planning to purchase some in Joshua Tree, CA. My plan is to place a luxury/safari tent out there on a deck and have septic system for toilet and shower.

I'm interested to purchase land in Joshua Tree, California. But I have concerns about the cost to develop raw land out there and if any permits are required. I am planning to place a tent on a deck and have a septic system to have a toilet and shower.