All Forum Posts by: Sam T.

Is there a section where one can post an offer on this page? My brother has an off market lot in south Sacramento for sale. He's the owner and isn't interested in agency representation.

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Originally posted by Peter Giardini:

The first time I had a seller respond to a post card I was a nervous wreck. So nervous that I didn't show to the appointment I made to discuss the deal further.

Good thing I got over that fear...

I learned two things...

1. Every seller has a problem and your job as an investor, as Jeff C. indicated, is to provide solutions. So, always look for ways to solve their problem. Sometimes it can be as straight forward as just purchasing the property from them. The more creative you try to be... the harder it will be for the seller.

2. The person who asks the most questions... wins. And by wins I mean obtains the best possible terms and hopefully these will be your terms.

So... go into every meeting prepared to ask lots of questions. Questions like the condition of the property of all major components, the circumstances for their response to your mailing/call/ad, their level of urgency, loan amounts, what they think the property is worth... based on what data.

The key is to create enough of relationship with the seller so that they will become comfortable with you... because when there is a sense of trust... there is a strong possibility that you will get the deal!

sorry if i'm hijacking. peter, if its not too much trouble can you provide a list of questions to ask sellers for newbies like me reading this thread. +1 for your reply

sam

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are there any pitfalls to the methods above such as the home owner getting into some trouble then getting some type of lien slapped onto the property?

jawsette,

are those tax lien sales? if so, doesn't the property owner have a right of redemption for x amount of years or something of that nature?

our credit situation is not pretty right now. we wouldn't be able to qualify for a FHA loan..

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matthew,

its a family of 3. my wife has been wanting a home for us to settle down in. i'm sending you a pm now about structuring a lease option.

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my wife and i are currently renting and paying close to 1,000 per month. our lease will be up at the end of the year. is there a way that we can buy a home creatively? we do not have good credit nor enough for a down payment.

my wife was looking through craigs last night and saw some ads about taking over payments. the person is in foreclosure and has a bunch of back payments. the owner wants to have payments taken over. what are the pros and cons to this type of situation?
another is a lease w/ purchase option that she found on craigs. rental price is set at one figure while the lease option rent price is significantly higher.

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the property i wanna make an offer on is a 2/1

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i looked up a property i wanna put a offer on via cyberhomes. it's estimated value is between 61k-77k. the price it has on it is 67k. if i wanted to make a wholesale price offer on it .. would it be 67k * .70? or .70 * 61k? and minus any repairs?

i found a landlord in the neighborhood that is willing to pay 40k cash for 2/1.

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Jeff,

this is an reo the investor just purchased. he does not know how to do the repairs. i haven't been to the property but he wants to sell it to me for $42k he said arv is 65-70k. i don't have the address to run comps. i'm going to go w/ my dad to go view the property to see how much work needs to be done. he wants to move it or fix it and then sell it. he's been sitting on this property for 3 weeks now.

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great thread.

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Terry,

thats what i'm looking to do now, wholesaling..

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All Forum Posts by: Sam T.

Sam T. has started 11 posts and replied 26 times.

Post: Is there a section on this page to post an offer?

Post: Making the deal happen

Post: heres my situation, how can i buy a home?

Post: heres my situation, how can i buy a home?

Post: heres my situation, how can i buy a home?

Post: how accurate is cyberhomes?

Post: how accurate is cyberhomes?

Post: how to make this work if possible

Post: Attention Birddogs: This is a Must Read For You! (7 Steps To Get Started Now)

Post: what options do i have as a beginner?