All Forum Posts by: Dave Passey

Yes.

@Becky Jairaj Your best option will be to find the heirs. Someone is out there. You will need to be better than the HOA guys at looking. They don’t really care if it gets foreclosed on or not. If you can find the heirs then you will be able to buy the property. Do some skip tracing, talk to a title company to do some research, search for genealogical records connecting them to someone. If you wait for it to go to auction then you will pay more and be competing with other buyers that weren’t willing to put in the work. Plus the bank is tacking on fees and costs every day which increases the amount they wIll be willing sell it for. If you want to wait for the auction, then you will need to have cash (or equivalent) at the auction for the purchase.

@Matt Davis Don’t do too much. It’s easy to do too much.

@Shawn Coles If you are making offers in Texas, you can always use the TREC 1-4 standard form for regular homes. It is long and bulky and not the one I use, but it‘s free and will get you started until you can get a lawyer to write you one up like the other guys mentioned. You can download it in PDF form online by searching TREC 1-4

@Corby Goade

So my real question about investing in Boise is if it is pronouced (Boy-See) or (Boy-Z)

@Ryan Frey Looking forward to it! Feel free to invite Jared to this one to hang out as well. He was an awesome guy to chat with.

Well this is a useless thread.

@François DesCotes So I am a wholesaler, flipper, and rental investor in Dallas. We send out our own marketing to find deals that we either do ourselves or sell to others. We also do cold calling to reach more people. I would not just trust a wholesalers numbers. I trust my own numbers but you need to verify it on your own to see if you agree. Finding deals takes a lot of time and the reason a lot of people can’t find good 70% deals is because they rely on guys like me to find them deals. The issue with that is that we keep the ones that are 70% or less for ourselves and sell the ones that are above 70% but below 80% to y’all. It takes a lot of time to find deals consistently and most people don’t enough time so they settle for getting deals at 80%. One of the most productive ways that we have gotten deals is door knocking a list. It is very time intensive, but gets good leads.

@Sydni Chattman You should take a look over at our Lease Option, Subject To, and Seller Finance section of Bigger Pockets. We are an active group and talk about all of this stuff.

I disagree with Nancy, there are a number of reasons an owner would sell at a price that meets your algorithm. We find properties in B class neighborhoods that hit your criteria month in and month out in the Dallas, TX market. I don't know anything about the market that you are looking in, but keep at it. 70% is going to be a little more difficult to get and we often sell properties to people at 80%, but everyone has their own criteria they follow. 

The deals are there, people that say the deals are not there are basically just saying "I don't know how to find those deals and am not willing to put in the work to get them".