All Forum Posts by: Danny Woodson

im fixing up and reselling

what about helping her speed up the process with insurance company?

@Pat G.

my main method is using all cash.  if sub2 and lease options will be able to help me close on more deals i would do them as well but i am not doing a good job explaining them to the seller on how it helps them/ me.

i spoke to an older lady. her husband passed away and she moved but kept the house.

the house got broken in to. copper pipes stolen and two feet of water in the basement. not sure what else is wrong.

first time i spoke to her, i thought it was a deal. she seemed relieved to be talking to me. she said that her insurance company does not want anyone entering the home until they check it out.

i followed up with her the next week. she said that now the insurance company wants her to take pictures and she hasnt had time. so i still cant check out the home to buy it. (is there any way i can get her to speed up the process?)

  on top of that, she said that her old neighor has been wanting to buy it so he gets the first offer but he needs to see if he can get financing from the bank.  (what are the chances of him getting financing from a bank?)

the most common word i hear from sellers is that i am an idiot and have no idea what i am talking about (yet they are the ones who put 200k of work into a 100k house)

the most common word i use is comps.

most misunderstood word is also comps. because they think their house is worth what its appraised for

i suggest if you are collecting your rent in those areas you should drive a tank

what makes them think they can get 400k if comps are 125k

i am sending direct mail to people and have just finished my first mailing to 600 people after four weeks. no luck on the first mailing, and i will send the second mailing this coming week.

most of the people that called back after that first mailing didnt want to sell much below market value. how long do i wait to call them back and follow up?

is this something where i really need to fish and poke at them a little bit to see if they will keep going lower? or am i going to KNOW when they have had enough .

why not just buy the property outright if they are behind on payments ? is it so you can rent the property out until you can sell it for full value?

is there any way that homeowner can stay in the home while taking property subject to the mortgage ?

@Joshua Woolls

josh. 40% of detroits population lives below poverty line. the corruption in detroit is absolutely ridiculous. they have the highest murder rate in the country for 2-3 years in a row and one of the highest (if not the highest) unemployment rates in the country.  if BLS unemployment numbers included people who choose not to work, those numbers would be even higher!

So lets be serious now... talking about being downtown, where the state put a one mile radius around the isolated communities where they are able to preserve the neighborhoods, does not represent what makes up most of the detroit experience of the hoods and ghettos. 

anywhere in the world has its good areas and its bad areas. but detroit has more bad areas than most.