All Forum Posts by: Nathan Paisley

Hey Chris,

I feel like I would have to say something. It's like that big pink elephant in the room or ghost haha! Yeah it's known as THAT house but its in amazing area and nobody has lived there for 3 years. I actually looked it up and found the news article ( with video ) and it turns out the killers lawyer was a girl I went to school with!

I have no problem wholesaling it cuz I think I can do very well with it, as well as whoever buys it. It's the fugly house on the block. Well I'll keep ya posted.

Now that I have your attention... I have a house I want to get under contract to wholesale but... 2 people were shot and killed in the house 3 yrs ago. My question is, how does this affect an investors mentality when thinking about rehab/sell? I think it limits potential retail buyers but if the numbers work... What do you think?

I would do some digging and call seller/bird dog for as much info as possible. If nothing shows up and your still interested get a title search. They would be able to steer you in the right direction.

Keep us posted.

I'm closing on a va house in a few weeks. I pray you don't have my same experience!! Haha can almost guarantee you won't because it was supposedly transferred into a persons name 5 yrs AFTER she died. This happened in 2001 and because my brother and I never gave up ( was contacted by the seller 9 months ago! ) we're about to close our first deal! Go figure... Anyway call the VA find out what u can. Also run a title search, ya never know lol!!

Good luck

DO NOT MARKET THE PROPERTY UNTIL UNDER CONTRACT. Get a assignable contract signed by the seller for 90 days. Get a title search make sure there are no other liens or problems with title. Once clear find a buyer get a 10% deposit and when the divorce is settled go into escrow. That's a perfect scenario.

Good luck.

I agree with Henry... Smarter not harder. My advice, don't try to re-invent the wheel. IMO you need to send out minimum 1000 letters/postcards a month for any type descent response.

Don't worry about not finding a buyer JUST GET THE HOUSE SO CHEAP NOBODY CAN RESIST! There are thousands of people that will laugh or hang up on your offers. Don't worry the more offers the better the chance to contract.

Good luck

Start calling and asking every title co in your area until one says they do.

Impo get a good buyers list, meaning drill the serious buyers for what numbers work for that individual. Then market like crazy for that inparticular buyer. Why? Because the second you DO get one under contract you know it's sold. At the same time, if you brought a deal 30-60% below market value to an investor it's pretty much sold...

Concentrate on out of state owners with 80% equity send them postcards over and over.

Jerry I'm not trying to drive up the price. It's not like I need to sell to any one particular buyer. I'm just asking what they would pay for it... I wouldn't give a price. In this situation I would rather make 20 phone calls to serious cash buyers in that area instead of dealing with picky retailers.

For instance, say I targeted absentee owners. Got the house for 150k arv 250k. I could put it on the mls and have tons of tire kickers, financing falling through, inspections, 6 months later still nothing... Another "option" would be to make some phone calls to serious cash investors " landlords, buy and holders" and ask them what they would pay for it? Most might say I'll give you 160-180$. Great! You just made 10-30k! But instead you keep calling and one guy says it doesn't need any work and he wants to give you 220k! Potentially making 70k in a matter of days not months.

Then it's off to the next house... This is just for discussion. I'm not saying this is the best option for everyone just another exit strategy to think about. My problem is I'm inpatient I want money today not months from now. I would rather wholesale 5 houses at 10k each then sit on one for months trying to make the same amount.