All Forum Posts by: Chris Purvis

Thank you @Hattie Dizmond for your input. You have answered questions I've had on another post as well. The person from that post has already moved out of the property but doesn't have any equity. She may have to go for a short sale.

As far as being a wholesaler using a bird dog, I still work a full time job and have limited time to drive for dollars myself. I felt it's a small price to pay to multiply my efforts as wholesaling is going slow in this small town of 57000 people. Since I'm a beginner, I thought the idea was to take action and learn this industry as I go.

@Jared Rogers Thanks

Also, the house that we lost would have retailed for about 110k to 120k after repair. I looked at the public records recently and a man got it for about 54k. I wanna know how he did it!

I just started in the real estate industry in july. I still work a full time job but have recently taken action in real estate by enlisting the help of a bird dog. He brought me about 6 properties that he found at the court house. The houses are in various stages of foreclosure or pre-foreclosure. I believe they are mostly vacant. 

What do I do with these leads or any vacant property that I come across for that matter?  I mostly want to wholesale to raise some capital and I also would like to hold properties to rent out. I also want to eventually do at least one fix and flip.

On a personal note, my wife and I went through foreclosure a few years ago (We do want our own home again, btw. At discount would be great) so I want to help other people before they get to foreclosure.

 If they want to stay in their house how do I help them do that? Are there any resources I can refer them to?

Hello @Khaliq King I a newbie but I can speak on google. I started using google adwords about 2 weeks ago and have received about 7 leads so far. Now I only bid $1 for the keyword and $1 for my daily ad budget. I did this because I still work a full time job and only have friday, saturday and sunday to devote my working leads. I have to back in and redo some things because some of the leads came from way outside my target area. I say all that to say that it does work. Hope my 2 cents helps some.

thanks Roland, will do

@Roland Paicely I'll be getting back with the seller this weekend and I'll get as much info as I can. @Greg Wake  How does the subject to work, and would it be an option for this situation? @Kim Knox  thank you for all the info you provided. It's all valuable information that I can use to help other leads.

thank you all again

Thanks @Mary B. and @Roland Paicely  I'll play around with the deal analyzer when I get a chance. Here's the info on the house.

Located in Wilson NC 3 beds, 1 bath, 1,064 sqft  year built 1952 on 0.18 acre lot. I haven't been inside. But I did go look at the outside. Looks like some type of wood frame house. 3 near by comps from zillow

1. 1906 Downing St SW, Wilson, NC 27893

   Sold on 7/9/2014: $60,000

   • Beds: 3
   • Sqft: 1210
   • Baths: 1.0
   • Lot: 10,018
2. 1100 Third St W, Wilson, NC 27893

   Sold on 9/27/2013: $65,000

   • Beds: 3
   • Sqft: 1356
   • Baths: 1.0
   • Lot: 0.27 ac
3. 600 7 Hills Anx W, Wilson, NC 27893

   Sold on 10/18/2013: $58,000

   • Beds: 3
   • Sqft: 1566
   • Baths: 1.0
   • Lot: 0.35 ac

Thanks

@Mary B. thanks for that. I did figure that wholesaling/fliping was out of the picture because the house doesn't have any equity. I thought about getting hard money to buy myself to rent out. I didn't think about any other leins that could be on it thou. I still new so I hope this is now stupid question, but where do I get comps that are more spot on than zillow.

BTW my adwords campaign got me a lead in philadelphia. would you be interested in it?

Saturday I received a call from a man on behalf of a family member who wants to sell. He said that the asking price is 46k and that she would be done of the house either way, whether thru bankruptcy for foreclosure. The 46k is about what she owes on her mortgage. She could no longer afford the payments so she stopped paying and has moved out of the house already. The assessed value is about 47k. Zestimate is $58,881

My question is how can I help this seller out of this situation? 

A goal for my business is to help people before they go into foreclosure so I guess this would be one to learn with.