All Forum Posts by: Jill Md

Thanks!

Actually, the ad that is similar to that one which we usually use, states that we aren't Realtors.

Interesting....I guess they have a lot of time on their hands right now. :wink:

LOL, I know that. :lol:

I was just wondering if anyone has ideas as to what they (he/she) are up to?

Ok, thus is confusing!

I received an response to one of my free online ads today that just said "sent to attorney general".

The ad stated: "We Buy Houses, Any Condition, Any Situation" "Call for your personal evaluation"
"Never any commissions or fees" followed by my name and my partner's name and phone numbers.

The responded via the contact email link within the ad site. Their email came from a hotmail account, with an addy indicating some sort of legal regulatory implication "lawsreg7".

Does anyone have an idea what they want or the tactic behind this? I am in AZ.

We run a variety of ads, is there anything you would change about this particular one? (whether for effectiveness reasons or whatever?)

Thanks much!

I often had keys to houses I didn't actually own prior to closing. That's just the way it works. Motivated sellers wanted to get out, and allow me necessary inspections, etc.

Michael,

What are you referring to when you say you don't educate the seller about your buying techniques in this situation on the phone?

Jill

Cheyne,

Having done fix and flips for 12 years, both Jon and Mike give you excellent advice.

I always limit the number or use of contractors specifically for the reasons you have experienced and Mike described.

You sound as if you are at the end of the line money wise, if you can't get capital to finish, either through private money or a money partner, I would lean towards selling as-is and get out from it before it becomes a further burden.

Wow, What a day. I have just getting numerous calls based on "I Buy Houses" type advertising I've recently placed.

As I alluded to in another thread, speaking with sellers as a newbie can be quite surprising at times.

My biggest hurdle is what to tell those callers that are upside down on their properties, often by $20-75K.
How is the best way to deal with this situation and address it professionally and expeditiously?
I'm not looking to give anyone false hope, and as we discussed in another thread we are investors looking to buy... or not buy a house.

I received this call today. I had a little trouble comping it originally because it's a new build area and there just isn't much to compare it to other than the original sales which are now a year old.

The owner is trying to avoid foreclosure (had unforeseen expenses), at this point they are not behind in any payments.

Property:
3,082 sq ft
2 story, 5/2.5
Built 2006-purchased 12/2006 for $375K
Owe $355K
Payment with T & I = $2500/month
Loan = 30 yr conv. fixed @ 5.6%
Non-assumable, No prepayment penalty

16x 16 tile downstairs, carpet upstairs, gas heat, both gas and electric stove in kitchen, gas BBQ in backyard, 3 car garage with RV gate.

Comps:
$325-345

Sub2 because the loan is a good rate?, then lease option?, --but the monthly payment is fairly high for most people and the house is large for most renters.

EDIT: I just realized that a loan of $356K @ 5.6% 30 yr. "should" yield a payment of $2044/month, not $2500 as the owner told me. I called back to confirm the loan interest rate and monthly payment, but haven't heard back from them yet.

Thanks for any help, & suggestions!
Jill

Thanks, Mike, I have always enjoyed your no BS posts (for lack of a better description!).

The advice shared by both of you was great. I don't like to mislead people and the fact is, many people out there are advertising that they are there to help. Especially coming from a rehab background....I am there to buy a house. If it keeps an actual foreclosure off someone's credit, great. But as Eric said, the deal has to work for me first.

BTW, -- Do you happen to know how I got a default Avatar? :lol:

Thanks so much for your explanation!

That is the similar marketing approach I take too. I may be able to able to help, but, I buy houses and if I can't do so in a win-win situation it's not for me.

Thanks again.....

If anyone else has suggestions/input on talking with sellers, I would love to hear it too!