All Forum Posts by: Jason F

Neal Boortz is the man.

Has everyone read the Fair Tax book?

There are some other contingencies that would be on the contract that I don't really want to entertain (state bond/SHIP financing) or I would counter.

I have started telling people what I want my "take home" or net to be. That's a good idea and makes things a lot easier. Instead of talking about each expense each party will pay, when asked how low I can go I simply say, "I just need to walk away with a check for $X".

Oh, and SHE found the house and we negotiated the price. Her realtor just came in at the last minute and wrote up the contract. The same "board of realtors" contract I use. It just sounds a little silly to pay someone who never listed the house or never showed the house.

No matter where the market is, buy below it.

Jeff,

Honestly, I get very little information over the phone. I would much rather speak with this person face-to-face. Here's why:

The majority of investors in my area will do their best to collect most of the information before hanging up the phone. When I am selling a house I have investors calling me all day long. It seems like they often ask the same information, off of the same 'guru' question sheet. There are usually a couple questions about the house and then everything turns to my situation. "Are you motivated?", "Why do you need the money for?", "Would you prefer if someone were able to offer you a quick cash offer?". It is really pretty funny.

Then the questions turn to MY mortgage. "How much of a mortgage do you have on it?". Do you think this is an appropriate question to ask someone over the phone? This guy has never met me and he is asking how much I owe on my house. Then the question about taking over payments comes into play. "Taking over payments, I thought you just said you only pay cash?" And what distressed homeowner really knows if their mortgage is assumable, "Yeah, I haven't paid my mortgage in 3 months, but I remember that clause 45 said it is assumable."

Then, about half of the time, the investor will submit an offer right there over the phone. He will list all of the negatives on the property and throw out a very low figure hoping I will show some sign of interest. This guy hasn't even seen the INSIDE of the house, yet he is telling me how much he thinks it's worth. It just screams tasteless.

While I understand that most investors are doing this to a lot of homeowners and do not have the time to visit with each one of them. I strongly disagree with handling your business with these people solely over the phone. Take the time to visit with these people face to face. Sure it will take a drive to their house, but you may be able to secure a really good deal because of that one drive.

When I receive a call from a mailing, I get the person's name and address and ask them what would be a good time to meet. If the answer isn't "Anytime!", or "Right now", then I get some info over the phone. With a name and address you can take 5 minutes online and find out what their round-about mortgage amount it.

Building a relationship with these people will make them feel more comfortable in what they are doing....and it will make you much more money.

Here's a way using a "buyer's agent" could cost you even if you aren't 'paying' them.

Say you are looking to buy a FSBO house at $85k and the seller needs to take home $80k at closing. Well now that seller can only come down to $82,500k instead of $80,000 to make room for your realtor's commission. You would have never known it but you could have negotiated another $2,500 out of that seller. In effect, you are paying for your own realtor indirectly through a higher sales price.

Just yesterday I had a buyer submit an offer to me on a property through realtor. Honestly, I had to decline her offer because my take home at closing would have been lower than if she didn't use the realtor.

It sounds like maybe you should just open a Home Theatre Shop. It sounds like that's what you are good at.

The owners of the pizza shop are selling because owning a restaurant beats the hell out of you.

The motel owners probably know of some upcoming repairs and also are probably watching their vacancy rate increase while their costs are going up.

Haha, Here in Gainesville, FL, the best guy in town cuts hair at $8.95. I've been to most everyone and still get the best hair cut from Randy.

The joys of living in a college town.

Then honestly, I would go find some employment that will take the worry off of running into 'bad debt'.

If you are worried about making quick cash, now really wouldn't be the time. And don't think that you are pushing it off. You can still make money investing with a full-time job. It just lets you play it safe.

Plus, there are always instances where you will need to have cash to make a deal work or for additional marketing.

is that true? if I'm using an electric tankless i will need multiple units.

i thought they made units that run for the entire house?

i have a 2/2 that I want to install a tankless for, do you think i would need multiple units?