All Forum Posts by: DuWayne Jones

I should clarify - I am not an agent. I am working on getting the property under contract and possibly wholesaling it.  I would be making the offer to the seller directly.  My offer price and terms would not be different if her agent was or was not involved.  However - I have questions about how this may affect my ability to close the deal.  Is there any potential for the deal to unravel if the seller doesn't make good with her agent first?  Is there a time period after an agent contract ends where they would still need to be compensated if a buyer steps in right after their contract is over?  Again - my offer and terms would not be different, but I'd just like to know what difficulties I might encounter if the seller tries to cut out the agent.  Is there something I should do to protect my interests in this deal?

I'm in discussions with a seller in MN who is currently working with an agent, but is fed up with their lack of effort and says she wants to end their relationship and work with me directly. What are the rules about this?

I'm working on a deal in Minnetonka, MN, zip code 55305. It's a SF home, 4 bed, 3 bath, 2600 sf. It's ready as-is for a rental with no updates needed. Would need several updates for a flip, and the seller uwants more than I'm willing to pay for a flip, but I'd like to pitch them the idea of purchasing on an option, and then I'd find a buyer who wants it as a rental. If I don't get a buyer within the option period, I'd just let the option expire. Anybody have any idea what the rental market is like in that area? I've contacted a PM company already but I'd like to get some investor input. If you are interested in more info about this- send me a private message and we can talk further. Thank you!

Thank you @George P. and @Rod Hanks - it is really that simple, I just needed to get out of my own way.  I found out they have scheduled an estate sale, and I'm going to meet with this co-worker to discuss details before the sale occurs.

I know a former co-worker whose family is now dealing with a probate situation, and I'd like some advice on how to approach him about buying the property.  I believe the house was free and clear before the homeowner (his mother) died back in December.  The owner was living out of state, and this house had not been occupied for several years but was maintained by the family.  I think there are more than 3 siblings involved.  I've looked up the probate case record, and no personal representative has been assigned yet as far as I can tell.  I'd like to open up the conversation with this co-worker, but not sure how to begin.  Does anyone have some pointers?

I'm wondering if anyone has experienced an increase in seller motivation with tax season approaching?

I know this post was over a year ago, but I'm curious about how this situation ended up for you?

I'm combing through online County records in an area of Minneapolis that I'm planning to market to, and have come across several properties with no information identified for a previous sale.  Does this mean there is no recorded mortgage? I'm wondering if this is a clue to potential equity in the property, or if it could mean something else.  My goal is to look for properties that were sold 15 or more years ago.  Any advice or help is greatly appreciated.  Thanks!

What about making the offer in the name of a Land Trust, and assigning a beneficiary at a later time?  I haven't done this yet, but I hear that is it a great strategy, and banks apparently do work with this method.  I would consult a real estate attorney before acting on this however.

I just sent out my first wave of direct mail looking for potential sellers. The first wave was a typed letter with my hand-written signature and the address on the envelope written by hand.  For contact info I provided my name, a phone number (via Google voice) and my email address.  I'm getting ready for wave two, and expecting to send letters or postcards once a month for several months. For future mailings - should the message or format be primarily the same, or should it be modified each time? What works best for those of you who have had success with direct mail?

Thank you for your advice.