All Forum Posts by: Joseph Ball

@Jeremy T. Ha! Busted!

I have buyers all over the world. I buy all over Florida.

You?

I would meet him at the house, with a yellow pad of paper. After commenting on all the work that is needed, I would hand him the pad and say, "If you were to sell to me today for cash, and allow me to assume the mortgage payments, taxes, repairs, immediately, what would you take?" And hand him the pad and a pen.

He will write something down. Trust me, he will write something down.

When he hands the yellow pad back, look at what he has written-for a long time.

I don't sell at "standard 70-65% of retail". I sell for less. However, I see this 70% rule quoted everywhere, so it must be working for others. Perhaps this might be a good forum question. "What sells?" I just know if I tried to sell at 70%, I would lose my buyer base. Perhaps it may be how you initially set your business up.

It might also be the nature of your buyers. If your buyers are end users, they will probably pay more. But if they are investors, they need "meat on the bone". Purely my opinion.

Some utility liens may not be recorded. Just ignore a water lien, and try to turn the water on. I recommend CALL the utility department, as part of your due diligence.

@Brie Schmidt is correct, but I also recommend asking the Tax Collector to check. 

Check the back taxes yourself. I recently almost bought one, assuming the letter from the County covered all back taxes. It didn't. I did my own research and found $31,000 additional back taxes that had to be paid. That killed the deal. 

Do your own research. Also, call the municipalities to see if there are unrecorded liens.

@Michael Walker and @Ned Carey made excellent points. 

I think $19K is way too high. In my wholesale deals, I generally offer the property to my buyer for not much over 50% of "retail". This deal may not fly. It wouldn't for me.

One thing I like about you? You are out there doing something. So many just say, "I want to do that", but they never do. Congratulations on taking action!

A colleague has told me she thinks we can BUY competitive deals through this service. Has anyone actually BOUGHT from auctions.com? If so, can you buy competitively? I never buy for more than 50% retail. 

Has anyone actually SOLD through this service? If so, how was it? I am always looking out for another exit strategy.

(I have no affiliation with auctions.com)

Thomas Lucier has a good book on options

Wouldn't touch it with a vaccinated iron crowbar

@Precious Thompson I have paid cash for keys many times, but I usually try to negotiate them out first.