All Forum Posts by: Account Closed

Happy Thanksgiving, M Read. Although I don't utilize a postcard marketing campaign, here are 3 websites that provide postcards:

vistaprint.com
overnightprints.com
realestatepostcardsonline.com

I would say that your content should most definitely define your target audience, the services you provide, and how you can assist your audience with solving their real estate dilemmas.

Here's an idea for you:
Are You Facing A Distressing Situation With Your House?
Do You Simply Want To Be Free Of Your Real Estate Problems?
I Will Buy Your Troubled House
Quick Cash-Swift Settlement
Call ___-___-___

This is merely an example.

Thanks for all the help, guys. I may just pass this one up. I think I was compelled to get this property off her hands being that she's a widow, having difficulty adjusting to a life of normalcy upon her husband's passing, and unable to maintain her other properties. I tell you, if she hadn't needed 25K to catch up on debt obligations, I think she would sell it for 10K.

Good morning, Dani. I believe it could be easily sold for at least 70K once the renovations are done. The area where the property is isn't quite a war zone, and there are townhomes being constructed across the street from the property. See, I think it would be an ideal property for a landlord. I think I really should get a general contractor in there to estimate repair costs because what I mentioned in my previous post is my thought on reapir costs. I'm gonna contact some buyers to see if they are willing to take it for $30K. The owner isn't ready to give up her other properties as she lives in one of the homes, wants to fix up and rent out the other home, and still operates the store she owns. She's hoping that someone would be willing to fix up one of her homes, a very seemingly beautiful and large one, without getting paid until she gets a reverse mortgage or loan of some kind. I'm not sure who would be willing to renovate the home she speaks of while waiting to get paid and reimbursed for material costs at the end of the project. Perhaps I should see if any churches in her area would be willing to do so.

Thanks, guys. I truly appreciate the wealth of amazing tips. Well, the meeting was a 2.5 hour dialogue. It was quite strange and rewarding, although I hadn't gotten any of the properties under contract. My guess is that the woman is semi-motivated. The one property I checked out today needs between $50K-$60K worth of repairs. The lower end comps I received from my agent are between $10K and $40K. Now, the 1st floor of the property, which was once a store, is pretty much gutted. The 2nd floor is a 2 bed/1 bath apartment. Someone had begun remodeling the place to make it a 2 family unit, hence turning the store part into a residential unit, about a year ago. Unfortunately, the place was left in shambles because the guy who was remodeling passed away. The owner says she needs at least $25K so that she can catch up on bills associated with the other 3 properties and her husband's passing. She told me that the taxes are current on this property I'm discussing. Her other properties include a store and two very huge homes. After her husband died last spring, she said that she's been struggling with finances. There are no mortgages on any of her properties, and she terminated insurance and turned the water off for the property I was interested in.

I know this is a long post. I just wanna include all the details that may be of importance.

Any advice on what my next step should be, or should I market this property, the one that the owner wants $25K for, to see if I can get a buyer to take it off my hands for $30K?

Please let me know if I should move on to the next or try to make this work.

Thanks!

Good morning, Bigger Pockets family. Okay, here's the deal, I will be meeting with a home owner on Monday, 10/25/10, to discuss purchasing either 1 or 2 of her properties. One of the houses is in a serene and comfy neighborhood and the other is in an area not quite considered a war zone, but not too far off from that label either. The properties are not mortgage-laden, but the owner is having difficulty staying on top of taxes on one of her properties. What types of questions should I present her with when I meet with her besides price and repairs? I already know her motivation, and we've discussed some serious stuff during about a 10 minute phone conversation today.

Also, if you are, or if anyone knows of, a credible, hard-working contractor in the Mercer County, Nj area, please contact me.

A bit off topic here, please refer to a topic I've posted in the Real Estate Dealmaking: Make Deals, Find Partners, Mentors& BirdDogs, etc forum about a property for sale in Beverly, Nj if you're looking to invest in the South Jersey area.

Thanks!

Nicole

Thanks, Bill!

Hi there, Jason. I've attended one in Roselle, Nj. The group meets every other Thursday at a place called Cavalier. The next meeting is scheduled for this coming Thursday, 8/19/10. It's located in Union County. I really enjoyed myself the first and only time I've attended.

Thanks, Scott, for that bit of information. I really appreciate it as I've never thought to consider closing costs being added into the figure.

I've decided to not submit an offer on this house at this time.

Thanks again, everyone, for the wonderful advice. I'm still struggling with finding recent solid comps for this target property. Either I may pass on this one or offer a very low price for the house, much less than the 79.9K the owner's asking for. I inspected the interior of the home yesterday with the owner present, and it needs massive amounts of reparation.

Thank you all so very much for your input. I do have solid buyers lined up for this area (Hamilton, Nj). The property is in a decent neighborhood, a mixture of types 3 and 4 properties. There are other homes selling in that region as well. Most of the comps were sold at $140K+, but the subject property is listed at $79, 900. I'll do further due diligence. I do intend to inspect the interior of this home, but just wanted to determine some type of FMV for it first. Thanks again for the feedback.