All Forum Posts by: Larry Roberts

Marissa, A good place to start is here http://www.biggerpockets.com/real-estate-investing which is the BP beginners guide. You will need to have a offer to purchase for your state or county check with a RE agent in your area they may have something you can use.

@Michael Dunn from what I am seeing you are not following the 70% rule here. If you buy a house worth 90-110K for 75-80k that is cutting it close. Maybe if you are @ 110K and only have 80K in. Zillow isn't a good place to find your real numbers. I would find me a good RE agent and become friends. They can tell you where to look for the properties you are searching for.

Looks like you could offer a lower price. If the back taxes are $800 and they aren't paying them they will lose the property. If they can't afford the 800 offer $5k and pay the back taxes of $800 if more it comes out of the 5k. I would try that and see what they come back with. Bottom line back taxes not being paid the Gov will take it and sell it. I might even go with 2500 and pay taxes they may come back with 5k they may need money and jump on the offer

I would call the police. Maybe these guys aren't in a coffee shop in Uganda.

I used to work Loss Prevention for Sears and we had a guy that wrote hot checks for furniture and house hold goods. He rented a place and had a scheduled open house to "sell" the house. We had a warrant served at the residence and confiscated the furniture. But there are all kinds of RE scams out there and more people that believe they have found a deal. Call the number and see what they are doing can they meet and have a detective with you when you hand him the money they can arrest them right there. But the problem is he is only stealing $99 so the charge would not be a felony but then again maybe he is selling stolen property which is worth more LOL I would def go after this person.

I agree with Brandon. No matter how you structure the deal let the buyer know what is going on. You will get the reputation of being upfront and no suprises. I think buyers would like to do business with someone that puts everything on the table with no surprises

Pressure Washer will work

First off you should read the TOS and FAQ of a Forum before you post. No forum will allow advertising with out some sort of payment.

She can be as motivated as a camel on wed. but looks like the only option is a short sale. Lets say the house is in perfect condition no repairs needed...House is worth the $290K, She owes 250K. $40k spread perfect conditions. 70% of 290 is $203k were a investor would need it. Now Reality! It will have some rehab cost. And then your assignment fee. This house would need to be around 196K to be a wholesale deal. Would like to know from the others on here if I am close on my numbers as I am new and just going off what I have learned.

Let the agent know you are prepared to make an offer but you would like the seller to be there so you can negotiate a deal right then. Explain to them you are prepared to close quickly and you do several deals a month and don't have time to wait weeks to reach a deal.

I would go with the buyer that had cash first as the other guy drug the deal out. Next time when he gives you a time or day he will follow through. You lost a little profit but he lost a deal by not keeping his word.

Bottom Line keep your valued customers happy it will make you more in the long run. People that drag out deals could cost you money in the long run.