All Forum Posts by: Account Closed

Isn't this generally referred to as a probate type of deal? I have not dealt with one of these yet, but I would be interested to hear how this deal turns out! Good luck Norm!

I know someone that has a divorce finally over with, and now the house must be sold. The only problem is that he cant see to sell it, because the market has deteriorated, and it is in a rural area. He is still dealing with an agent who has already mentioned that a short sale might be an option. Since this is a friend of mine, Im not going to get involved, other than offering him some articles & background information.

This has me thinking - in dealing with potential sellers who have very little or no equity in their property, and are getting a divorce, have moved back in with their parents, and is still making payments on the property, how likely is the bank to accept an offer? Or, is it more likely when the owners have moved in to an apartment and generally cant make the payments any longer, than the bank will listen to short sale offers?

Corey - With AT&T, I have two lines, but on the same plan. Ive checked into separating one line off on to its own "business plan" with its own minute limit. Now, if I took or placed ANY personal calls on that line, would that technically mess things up as well?

Can I assign a contract to a buyer who will have to negotiate a short sale with the sellers bank? I guess another way to ask this, is that in general, if I am looking at a potential deal that I can get under contract for a "bargain price", but there is little to no equity in the deal, is it worth my time, unless I want to do the short sale myself? Maybe this is something I should ask my buyers first - if they will consider properties that have very little or no equity.

Scott M. - thats a very good tip, I didn't even think about that. I'm in the same boat as the OP.

Not to change the subject, but the same question could be asked about what phone number to use. I think at first, I will just answer all my calls, and use my cell#.

I am in Texas, which many seem to include as one of the hottest areas right now for real estate investments. I'm thinking of attracting some out of state (cash) buyers for my wholesale deals. I have a website I've setup that will handle a buyers list, but right now, I need to find marketing ideas to find and attract these buyers.

A few years ago I lived in very nice duplex that was newly constructed. The owners had several of these properties, and had stained concrete floors in all of them. Just wondering about the cost compared to other flooring options and also improving the "sellability". Just a side note - the stained concrete flooring options are almost endless and the women that have heard comment on them all like them. That is a big selling point - if a couple is looking at a house and the female doesnt like the carpet - that could be a big factor in whether they buy the place or not.

comments?

With the various online fax services, how do you prevent spam faxes? What is to prevent the fax number you use to receive faxes from getting into the hands of spammers? Do you have some kind of option to see which fax you wish to receive?

Justin - do you hand write on each one, or do you use a printer? Or, do you have them print your text on the card and then you affix both the address and return label yourself?

Jon - Instead I joined a local REIO group in my area (fort worth) and just started networking, reading, more networking and generally digging up anything and everything I could get my hands on. Ive been to a few classes now as well. You might say Im becoming self-taught, but have acquired several more experienced colleagues to ask questions if needed that are just a phone call away.