All Forum Posts by: Fred Shandler

ok, sorry for being slow -but how would a sub2 deal be applicable if the balance of the mortgage is less than the asking price?

Thanks!
Fred

Excellent, I see. But doesn't that example only work if the seller owns the house free & clear?

Thanks Richard. I'm still confused though -perhaps I have the wrong idea of how using a hml works.

Does the hml essentially provide a check for the amount borrowed (at which pint the seller disburses funds, as necessary)?

I don't understand this statement and I hear/read it often. Isn't the bottom line the price you pay for a property -more important than terms? If a seller wants 50K and you want to pay 40K, how would modifying terms potentially make the transaction worthwhile?

Thanks,
Fred

Wondering, in the interest of increasing negotiating leverage.

Thanks,
Fred

^Thanks for the informative link, good info.

Does anyone have specific examples/samples of wording/an effective post card? What are your thoughts on the generic "we buy homes" postcards?

My advice, as someone who discovered BP almost a year ago as has been "picking everyone's brain" since, is to do exactly that. Spend hours (days, weeks) reading old posts, find various reading recommendations and start from there. Along the way, post questions that you have. That should keep you busy for at least a few months.

Again, I've been posting for a year and (although I've come close), I still do not own property. I've learned that this is a business that is very unforgiving to unexperienced individuals' who lack a complete understanding.

Read forums
Find recommended books
Post questions along the way
Repeat

-Fred

What are some keys to wording/designing an effective postcard. There is always mention of "separating yourself from your competition", but I'm not exactly sure what that means, with regard to postcard marketing. Any ideas/samples/examples?

Alright, just spoke to an "investor friendly attorney". She told me to contact her when I have a house that I'm ready to purchase, even though I'm not using a relator. Reason being, they need to draw up a contract specific to the property I'm purchasing. I tried to explain that I need a contract on hand -they don't do that.

So my questions now are:

Don't I need a purchase contract in hand at all times so that when I have a deal I can lock it up immediately?

Don't I also need a contract in hand for my private investor, so that I can have all financing in place?

Also, their closing fee (when handling the purchase contract) is $700. Is this reasonable?

Read Mike's book too!!! I've read it multiple times and constantly reference it for information. I came away extremely informed.

-Fred