All Forum Posts by: Fred Brauneck

I'd say buy foreclosures and other deals at courthouse auctions (In my town they are every Tues morn on courthouse steps). Then put some money into rehabbing them, and soon as you can, flip them.  

Oh yes, Alexander, you are so right!  Check the house out to see if it is even worth 72!  It may need major repairs. 

Do you know why she needs so much more than just payoff her mortg?  I think  if she wants out quickly, she must be willing to take even lower. How much is her low base?  Can you offer her 95?  Check the comps and if come are 95 or lower, you might have bargaining chip...

Welcome!   Yes, the Pro membership is well worth it.  I've learned so much (and shared some too) since becoming member.  Best of success to you!

Great conversations guys.   i have been out of touch and didn't know about Dodd-Frank.  That messes with my plans to get back into using owner financing as a deal maker. 

Thanks Rafael!  I just went to meetup.com, put in "real estate" in search bar, found a real estate investors group with 151 members!   

Meant to say "no one else.."

I'd work some of them the old fashioned way, knock on their doors !  Hey, no competition since one else is doing it!  

drive around looking for vacant, check tax assessors Ofc see who owns it.  Try creative  financing such as no or low money down with them, where they are " bank". Better tax wise for them. Also look for props on Craigslist.  

Man don't worry about credit!   All the deals I've done have been owner financed with little or no money down.  If the seller needs to sell, they will go for it.  Just assure them that if you don't pay, they can take back the property and your payments are non-refundable.  They also might like fact the you lighten their tax burden by a series of payments over years rather than one lump sum this year that might put them into a higher tax bracket that Uncle Sam loves! (example $200,000 at even 25% tax bracket is $50,000 they have to pay to IRS. And who likes that when you're not used to it?).  Start looking around and asking. You don't get if you don't ask.  Best of success to you!!