All Forum Posts by: Danielle Hinderliter

I really wanted to update on my situation for anyone following me (ahaha...not that way). I found a GREAT investor here with Oasis Property Services. I think they've been here about 8 yrs and she has 2 kids EXACTLY the same age as my kids. So many things about what she does fits what I want and how I can work to a "T". She is setting up a playroom at the office for the kids so I can take them to work if needed. She gives FREE training on how to find leads, use the micro fitch for foreclosure, etc. The only thing I have to commit to is 2 days a week for 2-4 hrs to come into the office to do calls, and follow leads and to keep all leads within the company. I didn't have anyone who i was working with anyways so thats ok with me.

I am SOOO excited to be able to really do everything but not have to do it all alone. PLUS they already have so much info/contacts in place AND they do mortgage loans and I will be trained in that as well. Plus if i want to be an agent (they list properties for reduced fees as well) i can get in on that. So bird dogging ($1550-$3500+ per deal), loan officer (50/50 split+), and possibly a realtor (not sure of split) and the fact that all these could be combined is great.

I am so happy that I met her and that she understands the kids aspect and is willing to train me. and just to toot my horn a bit...i have a lead currently that could be a listed/mortgage laon combo that i had the day before i had my interview. she told me that she is happy that i am so motivated and understand so much...she seemed surprised i knew what a short sale was! 8)

theres always the chance they won't tell you that they are closing but then they are going to miss out on leads as well since NONE of their bird dogs ever get work.....i would just say that i wanted to meet the person whos making decisions or something.

ok i understand the viewpoints on these ideas. i know that i CAN'T look at all propertys and certianly only a small percentage are going to be even feasable to make an offer. i want to let a property owner that thier price is to much for an investor without putting a set number in their head without haveing to go through all the nitty gritty, looking at the house, getting hopes up and wasteing time.

essentially i think the best email would read as:

While looking at some comparable propterties I see that the price you have set is much higher than an investor (I) would be able to pay and still make the property worthwhile. Although there are no repairs to be made (on this current one) there would still be costs and a falling market to think about. There would need to be at least a 30K (or whatever #) drop in price for it to be a good investment. If you are willing to look at a significant drop in price then please let me know and I will look deeper into the property you have.
BLAH blah blah

this doesnt put to much of a point on a number but gives them the idea that their "i'll look at any reasonable price" thing isn't going to work b/c i am not offering what they think is "reasonable"...

understandable that they would then get stuck on the offer made over email/phone but what about wasting time? i can tell by the email they sent they were just "testing the waters" and looky loos. i did send a quick note saying that this type of property i would only be able to offer around 80-90k if the property was a 2/1 and in good shape. since i know they owe more than that its in their court as to whether they want to wait more or not. 70% of 130k made it a 90k price. 130k would be the max i would guess it would sell for though. i doubt anything will come of it but i will take both ideas with a grain of salt!

ah...put the ball in their court! sounds great! thanks!

I posted a very quick ad on craigs list (titled "is your house weighing you down). i KNOW theres plenty of ways to make money even with no equity in a home (sandwich lease option to a slightly credit poor person).

It was very general...basically saying I will try to help and take a look at whatever they have. I didn't really specify regions of the city just that it be in tucson.

My question is how to go through and look at the deals. Am i being to wide? I am interested in SFH, condo's, and TH...rehabs, wholesaleing, and lease options. Is this to wide for a newb? I figured with the market being crummy and slow i have to branch out instead of being focused on one thing that will be harder to get started.

The first email i got in response to my ad (which has only been up 1 day) was a condo (no specifics...guessing 2/1 by mls listed stuff is the smallest). its a resort condo and the writer just pasted a pic and they don't occupy the condo and want to get rid of it for what they owe... $145k. lowest one for SALE (not cma) is $149k so its not a steal or anything. I don't mind saying "sorry its won't do us any good to do the dance" (in a nice way).

Gut feeling is that as a resort condo people who want a place like that are going to have good credit so lease option isn't going to help. No repairs needed going by the one pic (kitchen) so no rehab opportunity, seller does not mention distress but could be a short sale if they are falling behind.

First lesson learned: ask for interested party's to provide more info. :lol:

as a seasoned investor how do you deal with peoples props. that you can do nothing about?

one thing i am seeing ALOT of around here is that agents are doing some kind of refund if you buy through them. see if there are any desperate agents that are doing this and use them to look after you. they are doing NO work finding the house, hardly submitting an offer and basically just saying "yep that kosher...heres the papers...this means "xyz"....surely some agents need business in MO. with their refunds you'll essentially be getting a lower commission AND getting someone to look after you.

that sounds like a great plan! do you have the websites for those cheap signs? i know where to get business cards...i think i will get a fre mailbox online (or cheap) instead of an 800 #....local # maybe will seem more persoanl/approachable. is there a specific place to find contracts? i don't want to hire a lawyer to draw them up yet but after 1 or 2 contracts sold i will be able to afford it. great ideas and thanks!

the fees were $120 and $150 so although not steep its still a drop in the bucket for something i have never even seen. i'm guessing they will have a few free meetings for beginners so its on my list.

wholesaling is a possibility but i have to put the same amount of work into it either way. i still have to find the contacts, negotiate, write up contracts, drive around looking at the propertys, due a smaller amount of due diligance and then find a buyer...the only thing it cuts out is the part where i need the money instead of someone else fixing it....so essentially i am throwing myself in as a full rehabber and if/when i am unable to fully take on the project i can ease it back and just flip the contract. might as well go full steam with full intent with a backup plan rather than tiptoe in and then still get scared. i do agree that wholesaling will get me some cash in the bank though and its still on the table for me.

it is an option thats still on the table. i am not sure how people are in this market about lease options and contracts like that..plus alot of my contacts would be through MLS b/c i have no foundation, help, or contacts of my own so i would also be dealing with "regular" agents who don't quite understand the process and won't be able to give the seller an accurate idea of what the heck is going on. i need to first find out how to have no budget but still find sellers in preforeclosure. i need to find the business/legal papers and subscribe to that although i am sure the other investors have that lead as well. another idea that i saw through Armando Montelongo's book was to contact divorce and insurance lawyers to tell them I am interested in buying their clients homes. I've never seen that mentioned in guru books so it might be a good way to get contacts also.