All Forum Posts by: Julie Cadman

I am working on a seller-financed deal with a lease-option right now in northern Colorado. I'm planning on renting it out. It is my first one, so we will see how it goes! :)

-Julie

Has anyone tried this before? What are your thoughts?

I would like to offer a package to builders/developers, and make it as easy as possible for them and their new buyers. How would you present this idea to them?

After talking to yet another new home buyer, and finding out that they had offers ABOVE ASKING PRICE just HOURS after they listed their old home, I have found that they actually hated having to list with a realtor. Fixing up any problems, moving stuff out and super-cleaning for showings, and having the pressure of getting their old home "under contract" before moving on with their new home, can all be very stressful for them. If I can eliminate that stress from them, they might be open to seller financing. Especially if the new home builder "refers" them to me.

Pros for seller: Less stress and time. Old home under contract immediately with no fixing, super cleaning, or realtor fees. I can take over property when they are ready to move. Possibly at appraised value?? (With some kind of subject-to so that I can get out if the home is not something I want to deal with, like extra loans on title, major repairs, bad part of town, etc.) What else?

Pros for builder: Advertisement (I could add their info for new homes with my direct mail campaigns), and a "finder's fee" of some sort (not sure how much though??). What else?

Also, if someone sells their old home with seller financing, will it interfere with their ability to get their new mortgage?

Would this idea even work for selling agents as well?

Thanks everyone!!!

-Julie

I am planning on making a door hanger and using them in one school district, in the areas where I am looking to buy.

The contents:

Basics: Clear bag, magnetic (or regular) biz card, handwritten note or mini card, flyer printed on matte cardstock.

Other possibilities: A card (with small magnet attached) that shows community calendar and my info, small coupon book from local businesses that may want to participate (this could help pay for this campaign also).

I plan to follow this up in a month or two with a sticky note on each door that says, "Hi- We buy houses in as-is condition in (this area). If you are selling, or know someone who may be, please call me anytime, or check out (my website)! -Julie (xxx)xxx-xxxx"

I am hiring my teenage daughter and her friends to help me distribute.

I could also follow up again with free pencils given to kids through the schools, just an idea.

What are your thoughts on this? I will definetly update to let you know what I change and how it goes! Thanks everyone!!

-Julie

I agree, thanks Brian!

After typing this I have realized a few things. I do not need to "compete" with cash buyers. I think my focus should be to solve people's problems. So what problems need solving in real estate, and how to find them?

Death/divorce/marriage/new baby (county recorder's office, probate office)

mortgage or tax delinquencies (tax assessor's office)

homes that appear to need work ("farming")

Craigslist ("housing wanted", etc.)

New home builders needing to sell old home, (Builders, new home developments)

People going into nursing homes, (Nursing home administrators)

??????

I am looking to buy and hold in my area (Colorado). However, the area I am in is a big sellers market. My neighbor's house was listed at 3:30 yesterday, has had four offers and one or two were above asking price. Comps show it to be valued lower than asking price. I don't think I will be able to get any houses once they hit the MLS, since inventory is so low and houses are selling quick.

Besides trying to find houses BEFORE they hit the MLS, how can I compete with buyers who seem to have boatloads of cash? I can offer a quick exit for the seller, a small down if necessary, but what else can I offer to make it worth their while to sell to me? Any advice/comments welcome! Thanks!!

-Julie

I should be able to make it, see you all tonight!

Great, thanks!!!

Has there been a date set for March?