All Forum Posts by: John Marsh

I don't know about all of Califonia, but this part of the market should stabilize and see homes selling for between $300 to $350K In three years. If they choose not to excerise the option, then I am prepared for that circumstance. I prefer lease options unless I have acquired the home for a discount greater than 60%.

My offer was countered by the bank and another offer submitted was accepted. I have a back up offer and I am in the process of finding another property in the same area. I would still appreciate feedback on this deal.

I am looking for advice on a REO in southern California I am looking to purchase. I have negotiated a purchase price of $250K for the home with comps going any where from $280 - $320 K.
My financing consists of a $200K first at 7% and home equity line for the $50K down I need. The payments total $1570 a month plus an additional $450 for taxes and insurance. The monthly total is $2020 and I have 3 families willing to pay a lease option price of $2200 monthly with the ability to purchase the house in three years at the price of $320K.
Any thoughts, suggestions, or criticisms would be greatly appreciated.

Does anyone have any experience with Tim Mai's Cash on Demand wholesaling system?