All Forum Posts by: Joseph Ball

Wasting your time

I think your offers were right on. I buy this way all the time. Need to know your numbers, find motivated sellers. 

For the one that was listed, you probably presented your offer to a real estate agent. Of course, she calculated her commission. I have never been able to buy through agents. (I am an agent.)

Don't be discouraged. For those who say it can't be done, You're Right! It can't! (Just keep believing that.) I have been doing this for a long time. I know.

Try copying legal into GOOGLE. Sometimes...

Everyone will try to make you believe they are Donald Trump. Most seem to come for socialization. If you asked for a show of hands, "How many of you made an offer this month?" few would honestly respond. However, I am a strong advocate of REIA. The few active players make it all worthwhile. By all means, get in there, Donald!

I don't come out and ask them, over the phone. I ask, "What is your situation?" and it often comes out. If you ask, prepare to LISTEN a lot. Just listen. You may be amazed. Last night, a motivated Seller in Florida told me her married sister's secret boyfriend lives in this house, and they want to "Get rid of the boyfriend, and the house." 

All I said was, "What is your situation?"

Recent tax deed sale activity. All CASH buyers

Personally, I would not bring anyone. That will probably intimidate seller. But that is my way. I come across as someone who you can trust, and not some big conglomerate. It is just ME. If you are not careful, the seller will think he is dealing with a bunch of PROS, and will think he is outgunned.

I go alone with a yellow pad. I actually ask the Seller to write down what he wants. Look at what he wrote for a long time. Don't say a word. 

I would "Put Lipstick" on them and place them all into individual land trusts. Then, I would sell on Craigslist, yard signs, POSTLETS, as fixer uppers, with low down payments-maybe $2,000 each/maybe less. Trustee issues Beneficial Interest. If they pay, you are golden. If they fail to perform, instruct Trustee to withdraw Beneficial Interest. Since it is only 3, you will fall under the radar of Dodd Frank, but be sure to VET each buyer. You might even consider having a Licensed Mortgage Officer VET them. Don't undertake to scam anyone, perpetually rotating these properties. You want genuine buyers who will take full ownership.

When I do this, I usually sell quickly.

Stay away from GURU's and Mentors. You have all you need right here.

You walk up to their representative and ask. It's not a big secret 

The bank simply BID the mortgage balance. Cost them NOTHING. The question is, "What is/was amount of Upset Bid. " Most mortgage holders will disclose this at the sale-  often before. Since it didn't sell,you may wish to approach the bank to sell DIRECT, but prepare for long time to find anyone who understands.