All Forum Posts by: Sherlock Holmes

Thanks everyone for the advice it was a well needed morale boost. I will keep making plenty of offers.

Mike C in my city giving an investor 30% off minus repairs lets them make 150k+ depending on the home. If I offered 55% off the average house that would be 225k less than market value do you think 30% is enough with these numbers?

I've been focused and trying to find a deal for about 3 weeks now. I've put up bandit signs and stickers which got surprisingly few calls I put an add on the internet and got 10 times more responses. I have probably made around 10-15 offers and no one wants to accept. I really don't know what the problem is I'm following the advice on the wholesale articles and the advice of other investors on this site. I thought for sure I would have a deal by now. I live in an area where the average home price is around 500k and when I offer 30% less it's taking around 150k off of the market value so I don't know if this just seems like too much of a discount to sellers or what. If anyone can point out what I'm doing wrong or give me some advice I would like that very much.

I figured it out. I bought a pickaxe and found a railway spike on some tracks the spike works great but then you have to freeze the post in the ground with some water. Bingo!!

Mortgages kind of confuse me I need to read a good book on them or something.

I would like to know what happens if for example someone owes 350k on their mortgage and I only offer them 250k on their house. Is this just an impossible deal?

Anyone have any experience or tips putting up bandit signs and stickers during winter. I just spent a whole bunch on marketing and now it seems I may have to wait until the spring thaw.

lol nice one Mr. Investor.

So say they owe 150K on a home and I only offer 200k do you mean that they might not accept because they would only walk away with 50k? I not exactly sure how that works so please correct me if I'm wrong. If they owed 150k and I only offer them 150k does that mean they walk away with $0? Where I live homes are usually above 400k in case you were wondering.

OK thanks I guess I have a lot to learn.

I have quite a substantial list of homes where the residents have missed 1 or more mortgage payments and could possibly be facing foreclosure. How should I go about contacting them? Should I just call them and ask questions then make an offer or mail them letters of intent? What would some of you who have experience do?

Would I also get my payment from selling the contract through the title company rather than the investor? And are there any specific books you would recommend or just any first time home buyer books?