All Forum Posts by: Jackie Lange

I just posted several more motivated seller leads.  One is Toledo Ohio also Oceanside California

Here is info on the Toledo lead

This is a 3/1.5/1D which has been rented for $800 a month. The landlord is out of town and ready to sell so he does not need to go to the property when there is a vacancy. The seller says it just needs some cosmetic repairs. It is F & C. No seller financing is available.

Will take $38,000 if it closes not later than January 15th.
If it closes after the 15th add $5,000 to the sales price.

Websites have the value at $89,000..$75,000…and $74,000.

Really good ROI to pay $38,000 and get $800 a month rent.

If you’re interested in this property, email [email protected]

With Christmas this weekend, I realize it may be difficult to get to the property ASAP. I have the lock box code. We need to get this one sold by the end of the year so it can close by January 15th!!

What to do with it?

With $800 a month rent, this would make a great rental. – Just keep it. (Remember taxes, insurance, maintenance fund and vacancy allocation.)

Or,, after you buy it, you could sell it with seller financing. If you sold it using a Highest Bidder Sale for the Highest Down Payment, you should be able to get about $10,000 to $15,000 down, then $800 a month minus taxes and insurance.

Or, you could spruce it up then resell to a retail buyer for $80,000 – making about $25,000 to $35,000.

Plenty of ways to make money with this one!

See details about the Oceanside California Lead and other motivated seller leads at

https://www.cashflowdepot.com/community/forum/motivated-seller-leads/

If you get larger properties, you could convert the house in to an assisted living home.  You'd rent by the room.  But you get get a LOT more then than the way you are doing it now.  You can hire a manager to oversee the entire operation.  Some of my subscribers are getting $30,000 to $70,000 a month from ONE house doing assisted living homes.   

Basically, you can do one deal then retire!

You could also set up the house as an assisted living home, then lease the whole operation to a different company who runs the business.  This will still get you twice as much rent as you could get renting to a single family or person.

would you be interested in a lead 2 hours from Fort Worth?   Seller wants $60,000  - it's an inherited property. 

Har has it hat $162,660…Redfin @ $178,071…Homes @ $212,600… Home Disc @ $187,000

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Just because an owner lives out of town, it does not mean they are motivated sellers.  It's a big mistake to mail to out of town owners thinking they will be motivated.

I have a lot of property in Texas but I live in Panama. I'm not a motivated seller. I get about 15 yellow letter or postcards a week (and they all say pretty much the same thing). What a waste of money for the guy/gal who thinks I'm ready to sell just because I don't live at the property address.

If you want to get a 50-60-90% response rate then you need to send postcards only to motivated sellers. 

What makes a seller motivated to sell?

Their house is vacant
Tenant eviction problems
Code violations
Foreclosure or back taxes
Lost job
divorce
spouse died.

What else can you think of?

Act Fast.  These leads will not last long:

AMERICAS GEORGIA - $100,000 EQUITY

ASAP

5/2/ Carport 2800sf built in 1973 on 1 1/2 Acres in a beautiful neighborhood

Owned for 16 years and moved to Florida to help aging parents

Low price $25,000 (NO low balling please)

This house is paid in full, there is no mortgage or any amount owed. According to taxes the fair market value is $113,200.

There is foundation issues. The owner just want to get rid of it.

You must be able to go to the property and get a signed contract within 48 hours or the deal will be given to someone else.

Sites have it priced at $110,900, Remax $116,200 and Realtytrac $130,000

See more details at CashFlowDepot.com in the Community Forum under Motivated Seller Leads

BRECKENRIDGE TEXAS - $100,000 EQUITY

ASAP Mom died & property was in trust. Took 5 years to remove squatter (sister). Has some foundation problems and needs a new roof. Need cash…9 heirs…

3/3/2A 3500sf house on big corner lot

Vacant

Property Taxes $8000 ( seller is paying the taxes)

Low price $60,000

Har has it hat $162,660…Redfin @ $178,071…Homes @ $212,600… Home Disc @ $187,000

$1000 Referral Fee. Only paid if you do the deal.

The seller is listing with an agent on Tuesday if she does not have a contract by Monday. URGENT!!!!

It one hour from Abilene and 2 hours from Forth Worth

I posted more details at www.CashFlowDepot.com in the Community Forum under Motivated Seller Leads.

HAZLEHURST, GEORGIA - $35,000 EQUITY

Inherited Property – motivated seller.

3/1 1/2 1761sf on 1 acre with 2 outbuildings..built in 1972

Mother owned it 44 years

Has plumbing problems

VACANT 2 years

will take $35,000

Zillow has it at $73,500 has nice picture of outside and sending me pictures of inside

3 hours from Atlanta…2 hours from Savanna…2 1/2 hours from Jacksonville…1 1/2hours from Macon

$1,000 referral fee only paid if you do the deal.

I posted more details about all of these at www.CashFlowDepot.com in the Community Forum - Look for Motivated Seller Leads.

My recommendation is not to do the traditional subject-to deal.  Instead buy with seller financing that mirrors and wraps the underlying loan.  The seller will get a Deed of Trust or Mortgage and a Note.  If you default or get abducted by aliens, they can get the house back.  Explain to the seller how this protects their interests much better than a subject-to.  That will make it easier to get them to say YES to your offer. 

Before you spend money on mailing the contacts, you really need to build a buyers list.  If you got a house or 2 under contract, who would you flip it to? Ideally get 10 real buyers on that list first, then do the mailing.  Postcards are much better than a letter.  

There are some great investment groups in the Florida area.  Be sure to check out Peter Fortunato dot com.  He has free weekly get togethers with like minded investors. Peter is a very creative investor and will likely have a buyer for any properties you get under contract. 

Hey Charles.  You would be a PERFECT Speaker.  Did not know I could get you down to Panama. You have an invitation the the next one! I have an auction opportunity for you in Panama if you are interested

Let's run some real numbers for a wholesale deal vs a realtor commission on one deal.

house is worth $150,000 but in terrible condition. You can get it for $80,000. You sell it to a rehabber for $85,000. You make $5,000 in about a week.

Same house that is sold through a listing for $85,000. There is a 6% commission or $5,100 HOWEVER the listing agent gets half of that or $2,550. So you, the selling agent, profit would be $2,550 But wait, your broker wants half of that so you'd only make $1,275

Let's see, $1,275 or $5,000. Which one is more? The wholesaler makes more

Do this 2 times a month, 24 deals a year, that's a $120,000 a year business. (before taxes)

Get in to higher end properties selling with a Highest Bidder Sale, you can make $100,000 PER DEAL or more without giving up half of your income to someone else. 99% of the Highest Bidder Sales I have done were people who had their house listed with a real estate agent for more than a year with no offers. The real estate agent failed to perform. But I solved the sellers problem and got paid very well for doing so.