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All Forum Posts by: Nick Herndon

Nick Herndon has started 2 posts and replied 5 times.

Thanks for the advice, I read something online that mentioned using force majeure but it was unclear if it will work. The listing agent and attorney representing the estate are playing hardball and won't let us out or give a price reduction. I'm not sure about what to say to them fearing if I say the wrong thing they could use it against me in court.

Does anyone have any advice on getting out of buying a house that needs court probate approval? I got into contract before covid 19 became an issue and had to put 10% down that i'm at risk of losing if I back out. Court date is postponed and my hard money lender no longer wants to lend on it

@Matt K. Unfortunately most MLS sellers are just looking for the highest offer and there are always investors willing to gamble and retail buyers not looking to make a profit. My rehab costs are very low and my offers are as clean as you can get and I always try to offer anything extra that might help the seller with a problem. Another problem I have is that I have to factor in the cost of my hard money loan and most of my competition has cash and that can be the difference in them being able to offer more. Bottom line is I just need to GET OFF THE MLS and start marketing and working with wholesalers and finding deals not on the market! I appreciate the advice and it feels good to vent to other investors that are probably experiencing the same thing if they are actively looking for flips in the Bay Area

@Ehsan Rishat Thanks for the advice. I think i'm going to try some direct mail and facebook as well as networking with some wholesalers. I'll look into Listsource and Hopefully I'll get something under contract soon. How's the market for flipping in Carlsbad and the north coast?

I'm having a REALLY hard time finding homes to flip in the San Francisco Bay Area and am not sure what to do. Working with wholesalers could be the answer but the ones that have brought me deals in the past were all a waste of time and mostly MLS deals that I already knew about. I'm thinking about trying direct mail but have a limited budget and not sure if it's worth it, maybe Facebook ads instead? Any suggestions