All Forum Posts by: Jim Gordon

I am not up on it but there is a law in Ohio that is changing the way those clubs can do business. What caught my eye was that they filed a petition to put the law on the ballot and almost 60% of the signatures were false names.

That may affect the profitability of the club in the near future and why he is selling.

First some people are disposing of assets to cover poor investments that they have made on other properties.
Second get an an agent that has had experiece in rentals to be a buyers agent for you. The listing agent works for the seller and their job is to get the best deal they can for the seller.
Third you can bet that there is deferred maintanance on these properties. Take into account if you can economically increase the apeal of the property.
Forth verify area rents and what the rental market is for the area.
That's a short start and yes there are deals out there. They may not be in areas that you would want to live in but don't let that stop you from making money.

We have some money in Canada and the CN dollar took a dump and was trading at 65-70 cents US. It is now at par and it looks like a good time to move back to the US.
Stay with what you know because if you start to play in the money markets you can get burned.

By the way John you are over in Europe what is going on with some of the Swiss hedge funds. I heard that they are having some trouble because they invested in US mortgage backed securties.

Do you have a copy of the lease and what have you done to stop him from writing a new lease with that tenant with very favorable terms?
I have taken property with deadbeats in them and you get a better deal because the current owner does not have the guts to evict a friend.

I have a lender at a bank in Cincinnati that I can give you contact information for if you need it.

Minna right now there are so many people that have multiple liens on their homes that a short sale is hard to work. I ran into someone that wanted to list their home and go short and I walked from it. They owed about 130% of the estimated sale price of their home and had 4 liens that they would admit to. I don't need to deal with that to sell a house.

Jay there is no way that I know of to get by the FHA seasoning rules. Did you ever try to get the Federal government to make an exception in just this one instance?
Assign the contract and keep the transaction together.

With HUD there is no bidding war just offer your highest and best because you get one shot. They do not come back and ask if you will pay a little more. The high bidder can win the bid by being 1.00 higher than anyone else NET to HUD.

noobdog1 -- Wheatie shoud have said that an owners title insurance policy will cover any problems and something that you really should get on a property that you know has liens that were discharged and may have more floating out there.

If wholesaling is legal in your state a person that has been tested and found to have superior knowledge of the laws can also wholesale. :D :D :D