All Forum Posts by: Robert Burns

I have a purchase agreement on a property that I intend to assign to a rehab flipper. I calculated the approximate ARV, repairs (flooring & updates) and profit and ultimately the wholesale price including my assignment fee. ARV: $255 - $270k, repairs: $40,000, Assignment Fee: $10,000. My purchase price: $156k which makes my wholesale price: $166k.

I have a rehab flipper interested in the property and after further investigation it was revealed that the seller placed an insurance claim on the flooring loss due to water leak in the bathroom. A $16,000 insurance check is being held in the mortgage company escrow for the repair to be made. My seller would rather not repair the floors and have the insurance check reduce her principle at closing. My buyer wants her to reduce the price of the house since she is keeping the insurance money. However I priced the house without the flooring and offered it as an AS IS property so the quick math is ARV ($262.5k avg - Selling Price - Assignment Fee - Repairs - Holding/Closing = $51.5k profit. My buyer thinks she should reduce her price by 1/2 the insurance check amount ($8k). She is reluctant to do that as she thought the $156k was a very low price to begin with. I feel like my integrity is on the line because I negotiated the price of $156k as an AS IS price with the flooring work needed. I would appreciate any and all comments. Have a Great Day!

I'm talking with a very motivated seller who is having extreme difficulty dealing with her mortgage holder, Ocwen Financial.  Does anyone have experience with them?

So you use a market sale date back 3 years.  For instance you would use a bracket of say (1993 - 2013). Is that right?

What is the recommendation for the length of time absentee owners should own properties to be put on a mailing list?

I'm getting quite of few probate direct mail letters returned to me as undeliverable.  Any suggestions on what to do?

Sean, Thanks for the feedback.  I currently use Listsource.

Has anyone used or familiar with Agent Pro 24/7.  I'm looking for ways to improve my wholesale seller marketing and this "popped up" on my radar screen.

Any feedback would be appreciated!

I recently did a drive by and got a list of about 12 houses that appear to be vacant.  I went to the local assessors office and looked up the tax records for addresses and on all but 1 property the tax address and the property address is the same.  How do I find the address of the owners if it's truly a vacant property?

Wayne, thanks for the quick and insightful feedback.  What is your favorite method to find motivated sellers?

Does anyone have experience with Z Buyer?  Do they provide high quality leads?