All Forum Posts by: Craig P.

George, I disagree.

I had a seller submit on one of my sites last month. I was able to get it under contract same day with no competition.

Sold it same day as well to another investor and my net was over $30k. I had to double close it though to protect the spread amount.

It does work. You just need to know what you are doing, and how PPC works. It is not easy, but bottom line it works.

Run fast from short-sales. They are a waste of time and money. Your best option is to find off market deals or try to wholesale REO, bank owned deals.

You can wholesale REO stuff, but it is going to be tough your you to get deals deep enough to be successful wholesaling them. If you are looking to wholesale REO deals, use the LLC strategy. Open an LLC on your sec of state site, use that LLC when you submit offers, and then sell the LLC at closing to the new back-end buyer. This is the work around to get around the "non assignment clause" doing bank own deals. PM me and I can give you a LLC transfer doc you can use.

Your best course of action is to find off market motivated sellers. There are a ton of posts on here relative to marketing to finding motivated sellers.

Good luck.

PM me. I have good experience here.

Hello, does anyone have a good probate direct mail letter? Please share!

Thanks Jon. I assume you are talking about Merchants? They have a new program which is a 90% funding option now...

I have rehabbed over 30 houses, and I can tell you that the ones I didnt put windows in I regret not doing so. They sit on the market longer, and in many cases the windows will come up during the inspection period. I am a big believer in changing them...my advice is find a manufacturing window company in your city. Go there, and set up a commercial account so you can buy wholesale. Here we use a company called Norandex. I simply call them in and in 2 weeks I have custom windows ready. I pay about $1-2k per house on new windows (not including installation).

If you look at the cost of new vs. painting, scraping, time, etc I bet it isn't that much different and you will end up with a better product. Good luck.

My advice is to put more than $10 bucks, our lawyers advise us that earnest money needs to be something more substantial. We focus on private sellers not Bank REO stuff which obviously is different. On private seller deals we typically put $250 down per contract. I also advise you to get the EM into title as soon as possible just in case your seller attempts to change their mind (which happens). This way the contract is valid and can be recorded and you have some legal recourse.

I also think you should be prepared to close should you not find a back end buyer. Have a capital from a HM lender at your fingertips and use it when you cant find a back-end buyer.

Look at the numbers and see if you can buy and list as a fixer as that is a great strategy to use assuming the deal is private and the numbers are there.

Hello, i am looking to outsource my direct mail campaigns...can you share your recommendations of companies that do a good job?

Curious what everyone is seeing in their market for Hard money? Rate, and points?

I am seeing 4-5 points with 12-15% interest...with a point being refunded back if you are in and out in 6 months.