All Forum Posts by: Rod Coleman

Those are great rebuttals that's just want I'm looking for, not to make them but to help them realize that selling is something they should consider, and granted that may not want to sell but,
most of them time they just dont know what to do and it is our job to lead them to that end conclusion. not to force like some have suggested i was asking but if done correctly they well at least think about and that is the goal so when you or i decided to go back and touch base with them in a month
1 you have built a re pore with the seller
2 they have been thing about the conversation or the issues of holding on to the property
3 they also have been thinking about the benefit of selling the property

the end result is a better fellow up and increased chances of getting a deal and at fairly good price, because u have helped their motivation, by letting them tell you the reasons why they should sell

such as:
Tax payments
loan payments
up keep
distance if there out of town
etc.

now anymore ideas on how to get the seller to loosen up more

its OK fellas if your not going to attempt to. So Then i ask of you gentlemen please refrain from being like yourselves and help. you guys act like u haven't sold any books

Where would be some good sites to gather this infomation

That's great information, So do your saying that until i get a composite list of
Roof repair,Electric,Pluming,siding,etc cost to just use an company that will give u a free estimate.

Also another investor in my area was saying that if the house is pretty to multiply the squares but 10$ and that should give u to reproduction cost
and, if its ugly to multiply by 20$
and if its a piece of crap by 25$
Now I don't know if its right. He is a pretty good whole seller about 3 to 4 deals monthly with 5 years experience
but, i don't know if its the correct thing to use because when i run my numbers his MAOs are always much lower then my MAOs. now he also stated that the area matters the type of area matters the standard nice house in a nice neighborhood your formula would be ARV X 70%- repairs= MAO - Profit margin= cash offer
nice house in bad area ARV x 65%- repairs = MAO
Nice house in WAR Zone ARV x 60%- repairs=MAO
what do u thing about these?

Well i know that thats why there is an question about it, how where do u get your estimates from

True so in this type of down market i was thinking to go in to pretty houses
reo's, and forsale by owners and take more of lease option or a short sales angle what do u think

my friend has an 1000 square ft rancher thats needs the siding re done what would be the avg. cost on that

what is an warranty deed

Negotiating is not step one there is a lot more to with
if u find an seller
u must find out there motivations for selling

liens, taxes owed,

are there any names on the deed besides the person your talking to and

how much they want

would they bewilling to finance

please add if i forgot anything

Here Ill start

step 1 locate property
driving through each and every older sud-div and/or rundown city areas
looking for vacant properties or Fsbo signs

Calling newspaper ads
fsbo
rentals

Placing newspaper ads
in real estate for sale section

Bandit signs
you must know your local laws
and place it in high traffic area


Ant farms
Family and friends that do
a lot of traveling/ or needs extra
you can even ask the local
mail man

Realtors
work deals with them
and it could pay off

please add