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All Forum Posts by: Russ Swan

Russ Swan has started 11 posts and replied 26 times.

Post: FSBO Offer

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

$500 purely to write up a contract is, in my opinion, simply ridiculous - given that the seller might not accept your offer anyway and instead go with someone else's offer.  I like Christy Harris' solution of finding an attorney who will be helpful enough to draft your PA according to State requirements in return for using him/her as your closing agent. 

For myself I use a realtor to frame my first PA in a new state, then remove the logo  to use it as a template for subsequent offers.  Upon acceptance it will get sent to my attorney, who is also my closing agent for review in case I need to add an Addendum.

Post: May have found a lead, need advice Dallas/ Fort Worth

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

I'm thinking that even though the house may not have a mortgage, could it not be possible the owner has not been paying taxes, or not fulfilling other local code violations?  Check here: http://publicrecords.netronline.com/ for the address and the name.   Check the address and name in Texas. Also the name in Florida and any addressess in Florida you can turn up. 

Post: Looking for a BPO for Fort Lauderdale and Miami areas

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

Jeff - I will need a BPO on any property that I get under contract. I will need that to be done during an inspection period following the contract agreement signing. I will already have done my comps but since I live in Australia, I need a set of experienced eyes to go into the house and find out what is the current state of that house, and an assessment of it's current value.

Post: Looking for a BPO for Fort Lauderdale and Miami areas

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

Hi,
I live in Australia so need to find a BPO who can visit properties I have under contract, in a timely manner, to give me an appraisal of that property. My market area is Broward County around Fort Lauderdale, and Miami.  If you are a BPO who is interested, or if you know someone who might be interested, or can offer another suggestion as to how I might be able to get a property inspected during a contract Inspection Period, please get in touch?

Russ Swan

Post: Are Mass Offers Failing?

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

I don't make mass offers myself but I know those that do and wonder whether this tactic might have had it's day. To make mass offers means you need to quickly scan through your leads and make a decision on whether or not the asking price for a subject property is below an estimated ARV. No detailed analysis at this point.

You then may end up with (say) 20 or 30 offers sent out.  The idea while good in theory that some might "stick" surely means losing support of realtors over time:
- In the 1st place it means a lot of extra work they may not need nor want,
-In the 2nd place, many if not most of these offers will probably need re-negotiating of price and no doubt subsequent failure of the contract. That's sure to piss the realtors off even more.

It seems to me that more and more vendors are only allowing pre-inspection and no "inspection period" contingency.

So, what to do?

Post: Remote Letter Posting

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

I live in Australia and sometimes I may only have just a few leads to send a letter to. Postage from Australia to the US is really expensive and it's SLOW... What I need is someone in the US, preferably in my area of interest that I can send the letter to by email, have them print it out and post it to a short list of addresses. Does anyone know of someone who provides this sort of service?

Russ Swan

Post: Outsourcing to a Realtor

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

Thanks Jacques.

Are you a cash buyer?

Post: Direct Mailing Problems

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

Hi,

I'm looking to start a direct mail marketing campaign but I have a big problem. I live in Australia. To mail to the USA costs between $2 to $3 so it's an expensive way to do it.  I understand there are plenty of DM companies online that I can choose from that can do it much cheaper.   This isn't the problem though.

Supposing I use one of the online DM services based in the US.  I do have a US phone number on Skype on which I talk to realtors, cash buyers etc so callers will only pay the US domestic rates, not international, so that at least is not an obstacle. 

But the issue is that if I get a caller it's most likely going to be when I'm asleep. And having a telephone robot answering these important enquiries is obviously not the most satisfactory solution.

In the absence of any other ideas right now, I guess I need some kind of 3rd party solution. Someone who can take the call and get some details in the first instance, explain that a representative of the company will call back within 24 hours and make a time for the call.  If they can then pass the details to me, I can then do some research and be at least a little bit prepared with a starting point solution for the caller.

Can anyone give me a heads up who can provide a service (without it costing the earth)

OR have a better idea?

Regards,

Russ Swan
Cygnet Trading LLC

Post: Earnest Money for Fannie May

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

Thanks Tonia :)

The grief I'm getting is coming more from my realtor I think than from Fannie May, so maybe I'll need to come to an arrangement with her that I'll keep plugging on until Fannie May itself starts rejecting them and it's obviously no longer worthwhile.

Appreciate the input. I'll keep plugging!

Russ.

Post: Earnest Money for Fannie May

Russ SwanPosted
  • Investor
  • MALAK, NT
  • Posts 27
  • Votes 1

My realtor keeps telling me that Fannie May requires a 10% deposit - period - no exceptions.

Yet I've had at least one offer initially accepted by Fannie May with a $500 EMD.

Has anyone ever managed to land a deal with Fannie May on less than 10% EMD?

Russ Swan

Cygnet Trading LLC
Websites https://www.facebook.com/cygnettrading http://www.worldwidebranding.com/Russ-Swan
Phone: 954.762.7932