All Forum Posts by: Sam Jackson

Thanks for the information @John Ross . I meet with them today but I guess they forgot to tell me that they spent $60,000 on the property putting in a pool and hardwood in 2007. So they are in it for $390,000. They really don't want to hold onto the property but they want to sell at like $330,000 and try to recoup some of their losses. Today there house it worth around $290,000, but I don't see anything I can do because they added +$60,000 to the property and they don't want to take a fit on that investment. As little as possible. $240,000 left on the Mortgage and Purchase price is $326,000.

lets say i talk to a Realtor and they appraise the property at $280,000 how much should i assign the property for?

She's very motivated because she doesn't want to deal with the property anymore even though it bring in good cash flow. Again they are very very old from Russia and their is a language barrier. Quick thought, if i was to wholesale this property. It would be to a landlord not a flipper, so i wouldn't have to worry about ARV right? Just try to get the property under contract, under value. Is this correct?

LOVE THE PODCAST!!!! listen to it every week. Gave a great review by the way and Thanks for all the great information. I didn't think I could because it's a beautiful home. I have a meeting with her on Monday, and she already has tenants in the property's. So I guess lease Options are off the table. They are really really old.

I've just got a call back from a older lady who has 3 property's in my area that I'm trying to wholesale. She's the landlord and owner. Her and her husband don't want to hold on the the property's anymore. The thing is when I looked up the property on google I seen it was a very nice 3/2 2,500 in Florida with a pool. Very nice and not distressed. I know I can't wholesales this deal, we'll I think. But I know there has to be other options to profit from this deal. Houses brought in 2007 for around $326,000 valued today around $280,000

thank you @Tom Goans, and @Stephen Masek, I was kind of expecting that result but hoping for the best.

The homes are upside down, and I know for a fact if the homes are sold the brothers will pocket the money. I dont want to be pulled into any legal mess. Is there anyway to profit off of this situation safely.

Ok. Just got a call from a motived seller. Who is the son of the home owner who passed away 2 years ago. She left him and his 2 brothers with 6 property's in a low income area. Homes were all around $60,000 in 2002 to 2005. She passed away in 2011 and payments have stopped after she died. Overwhelmed is a understatement. I wanna help this guy out by wholesaling these property's but my question is, if I was to flip these property's, he would still have a Mortgage payment right? Because in today's market the homes are valued around $20,000 and they were built in the 1960s. Looking for realtor advice and investor advise. WHAT WOULD YOU DO????

Ok. Just got a call from a motived seller. Who is the son of the home owner who passed away 2 years ago. She left him and his 2 brothers with 6 property's in a low income area. Homes were all around $60,000 in 2002 to 2005. She passed away in 2011 and payments have stopped after she died. Overwhelmed is a understatement. I wanna help this guy out by wholesaling these property's but my question is, if I was to flip these propertys, he would still have a Mortgage payment right? Because in today's market the homes are valued around $20,000 and they were built in the 1960s. Looking for realtor advice and investor advise. WHAT WOULD YOU DO????

Also Bloomberg is not Credible. The banks own it. No different from watching FOXNews.